Professional Documents
Culture Documents
Introduction
PLANNING
• Such assessments provide us with the basis for proceeding to the critical aspect
of setting objectives.
• Most companies will include, among their goals, a certain return on invested
capital. This must be done with he realization that, if a high rate is set,
management will have to make greater risks.
3. STRATEGIC PLANNING
• The use of strategic approach is basic to the process of planning, and strategic
planning is a key part of the planning process.
• What would happen over the ext five years if the company were to
continue its present course-selling the same products in the same
markets in the same quantities and at the same prices and
following the same internal operating policies.
4. OPERATIONAL PLAN
• The manager must set the goals to be attained each year, indicate
the steps to be taken to achieve those goals, and detail the
resource requirements in terms of manpower and cash over time.
OPERATIONAL CATEGORIES
• Market Planning
• Production Planning
• Manpower Planning
• Organizational Planning
• Financial Planning
• The short-term plan will be divided into twelve monthly periods and
can, therefore, be based on sale and cost forecast which are more
detailed and accurate than those used for the log-term plan.
CONCLUSION