Planning

Define planning: planning is important in business purposes, organization or in our day to day life. It is a process which requires us to think before we act.

Strategic planning
is a process of defining the strategy or direction and making decisions on allocating its resources to pursue this strategy, including its capital and people. Various business analysis techniques can be used in strategic planning which is, SWOT analysis that is Strength, Weakness, Opportunities and threats, PEST analysis Political, economic, Social and technological STEER analysis Social cultural, technological, economic, ecological and regulatory factors

 Strategic planning is the formal consideration of an organization future course. All strategic plans deal wid the key question 1. What do we do? 2. For whom do we do it? 3. How do we excel? It is true that strategic planning is a tool for effectively plotting the direction of the company.

Steps in planning
There are 7 steps of planning, which are classified as follows: The first step in planning is to determine the objectives and work towards the objectives. There should be a proper goal set up

 The second step in planning is planning premises which is assumption about the future. With the second plan the entire plan is formulated, such as forecasting, deciding about the future trends, production cost n prices

 After deciding the goals and planning premises, the third plan is to decide the duration/ time to complete the project. This step is very important because if the project is not completed in the given period, the next step wont be considered, everything has to be done step to step.

 The fourth step is to have a alternative course of action. There should be different techniques and ideas, because if any technology fails we can adapt to the different one

 After setting up of alternatives, goals and the premises, now the fifth step is to evaluate them with the research and quantitative techniques. Once the research is done the next step is to decide about the budget.

 The planning process doesnt get completed here, the planning which is done should be monitored and have a close eye on the progress of plans.

Effective planning
There are four steps in effective planning they are as follows. Coordination: The planning consists of many major and derivative plans, everything should be taken care of. The plans should fit together not only in terms of content and action but also the time. So there should be proper coordination on the things which are going to be done.

 Communication: everyone should communicate with each other in organization or family life. This will make them understand the goal and the policies of the organization. With communication they will be aware of what they exactly working on

 Participation: In order to make the planning effective there should be participation of employees with the supervisor. Proper climate: there should be proper wok culture or work tradition

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