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    Planning: LT Col Farhan Iqbal

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    Here are a few key points about how managers plan in uncertain environments: - Uncertain environments are those with high volatility, ambiguity, and lack of predictability. Many companies operate in uncertain environments due to factors outside their control like changing regulations, economic conditions, competitor actions, etc. - In uncertain environments, plans need to be more flexible and adaptable. Managers develop contingency plans (Plan B, C, etc.) in case the main plan does not work out. - Planning horizons are shorter, often quarterly or annually instead of multi-year plans. This allows for adjustments as the environment changes. - Goals and objectives are broadly defined instead of specific targets. Broad goals provide flexibility to adapt.

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    Planning: LT Col Farhan Iqbal

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    muzamilarshad31
    29 views10 pages
    Here are a few key points about how managers plan in uncertain environments: - Uncertain environments are those with high volatility, ambiguity, and lack of predictability. Many companies operate in uncertain environments due to factors outside their control like changing regulations, economic conditions, competitor actions, etc. - In uncertain environments, plans need to be more flexible and adaptable. Managers develop contingency plans (Plan B, C, etc.) in case the main plan does not work out. - Planning horizons are shorter, often quarterly or annually instead of multi-year plans. This allows for adjustments as the environment changes. - Goals and objectives are broadly defined instead of specific targets. Broad goals provide flexibility to adapt.

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    Here are a few key points about how managers plan in uncertain environments: - Uncertain environments are those with high volatility, ambiguity, and lack of predictability. Many companies operate in uncertain environments due to factors outside their control like changing regulations, economic conditions, competitor actions, etc. - In uncertain environments, plans need to be more flexible and adaptable. Managers develop contingency plans (Plan B, C, etc.) in case the main plan does not work out. - Planning horizons are shorter, often quarterly or annually instead of multi-year plans. This allows for adjustments as the environment changes. - Goals and objectives are broadly defined instead of specific targets. Broad goals provide flexibility to adapt.

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    © All Rights Reserved
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    29 views10 pages

    Planning: LT Col Farhan Iqbal

    Uploaded by

    muzamilarshad31
    Here are a few key points about how managers plan in uncertain environments: - Uncertain environments are those with high volatility, ambiguity, and lack of predictability. Many companies operate in uncertain environments due to factors outside their control like changing regulations, economic conditions, competitor actions, etc. - In uncertain environments, plans need to be more flexible and adaptable. Managers develop contingency plans (Plan B, C, etc.) in case the main plan does not work out. - Planning horizons are shorter, often quarterly or annually instead of multi-year plans. This allows for adjustments as the environment changes. - Goals and objectives are broadly defined instead of specific targets. Broad goals provide flexibility to adapt.

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    Planning

    Lt Col Farhan Iqbal


    What is Planning
    • Planning is the first Management Function that involves setting goals, establishing
    strategies for achieving those goals, and developing plans to integrate and
    coordinate work activities.
    • Definition of an organization: Division of Labor, Integration, Common Goals, Coordination
    • In a sense, it lays down the foundation for the other three management functions:
    organizing, leading and controlling.

    • Why do Managers Plan?


    • Planning provides direction to managers and non-managers alike.
    • Without planning, people will work cross purposes and prevent efficiency and effectively. Ex: Pull the rope
    game
    • Planning reduces uncertainty by forcing managers to look ahead, anticipate, and change
    • Planning wont eliminate uncertainty. Ex: Pak Cricket Team Wins at T 20 (2021)
    • Planning minimizes waste and redundancy.
    • Inefficiencies are minimized, including inefficient people
    • Planning establishes the goals or standards used in controlling.
    • Without planning, there would be no goals against which to measure work effort
    Goals
    Goals (objectives) are desired outcomes or targets.

    1. Watch Video on Goals Can we have a single Goal?


    2. What are your personal goals Single goals can’t define organizational success
    3. What are your company goals

    Goals

    Strategic: All other areas of Performance. UN food Financial – Related to financial performance. Sale
    Program: to ensure that no child goes to bed growth of 10 % with earning per share to increase
    hungry by 10%.

    Goals
    Stated : Official statements. Real : Actual goals that company
    Nike: Delivering inspiration and pursues
    innovation to every athlete
    Approaches to Goals
    Traditional and By Objectives (MBO)
    TRADITIONAL
    MBO A PROCESS OF SETTING MUTUALLY AGREED-UPON
    GOALS AND USING THOSE GOALS TO EVALUATE
    Top EMPLOYEE PERFORMANCE.

    Division ADOBE, GE, AND MICROSOFT HAVE REPLACED


    TRADITIONAL PERFORMANCE RATINGS WITH MBO.
    Department
    ADOBE “CHECK IN PROGRAM”. EVERY TWO MONTHS,
    THEY MEET TO SEE PROGRESS. AT THE END OF YEAR,
    Worker THE “REWARDS CHECK IN” MEETING TO DECIDE
    ABOUT PROGRESS, AND DECISIONS FOR PAY AND
    Turning broad goals into specific at each level is frustrating BONUSES
    and tedious.
    Not followed in letter and spirit. MBO USES GOALS TO MOTIVATE THEM AS WELL
    Misinterpretation and biases is expected.
    Clarity is lost. FOUR PARTS: GOAL SPECIFICITY, PARTICIPATIVE
    DECISION MAKING, EXPLICIT TIME PERIOD,
    NOT ALWAYS TRUE. YOU HAVE FEED BACK AND CONTROLLING PERFORMANCE FEED BACK
    AS WELL IN MANAGEMENT
    Approaches to Goals
    MBO – Steps to Implement
    Approaches to Goals
    Characteristics of Goals

     Written in terms of outcomes rather than actions


     Measurable and quantifiable
     Clear as to a time frame
     Challenging yet attainable
     Written down
     Communicated to all necessary organizational members
    Steps in Goal Setting

     Review the organization mission or purpose


     Evaluate Available resources
     Determine the goals individually or with input from others
     Write down and communicate
     Review results and whether goals are met
    Plan
    Plans are documents that outline how goals are going to be met. They usually include resource
    allocations, schedules, and other necessary actions to accomplish the goals.
    Uncertainty is high. Needs
    flexibility. Ex: Once employees
    Apply to entire held themselves responsible to
    organization. Ex: Based achieve mission
    on Dr Adeeb vision:
    treatment for all - SIUT

    One time plan. Ex: If


    Imtiaz wants to open
    store at Peshawar or
    Kabul

    One Year or Less.


    Ex: Bahria Plan to
    launch another SOPs. Ex: Khaddi
    phase plan for building
    Apply to particular Initially 7 or more years.
    operational area. Ex: new store
    Recent - Beyond Three Years. No Room for
    SIUT requires fund Due to environmental
    from Zakat – extensive interpretation. Ex: A
    uncertainty. NASA: What is out soldier is given a specific
    fund raising. there in space task at the border
    Developing Plans

    Process of Developing plans is influenced by 3 contingency factors

    Organizational Level Environmental Uncertainty Commitment Concept

    High Uncertainty:
    Be specific, but
    Flexible. Plan A
    And Plan B,C,D,E

    Top Management: Strategic Planning Government impose taxes or Make plans with commitment.
    Lower Management: Operational, but financial liabilities or pose certain taxes. Walmart laid off employees but
    within the ambit of strategic planning. For ex: Gain Tax in property market by expanded its store. How could
    See previous slide. However, it does not Shabbar Zaidi in recent govt. you ensure shelves stocked if
    mean that no strategic planning is done Sale of any property before 5 years, you lay off employees
    at Lower management you need to make 1% of gross besides Read: How managers plan in
    other taxes uncertain environment
    Approach to Plans

    Process of Developing plans is influenced by the planning approach it takes

    Formal Planning
    Like Top Down Goal
    Planning by Organizational
    Setting Members
    Each Department screens Weekly Meetings
    the parameters and extracts
    Supply Chain Marketing
    its plans.
    Production
    Draw back.
    Mostly a shelf binder.

    Work Team 1 Work Team 3 Ex: Dell performs this


    Top leadership meet
    Work Team 2 weekly basis
    Lower teams meet on
    Daily Meetings
    daily basis
    In Class Read

    1. How Managers plan in uncertain environment?


    1. What is an uncertain environment? Do your companies work in uncertain environment?
    2. Why we need to be specific and flexible both? Give example.
    3. Keeping in view what you have studied today, how LinkedIn has planned.

    1. Planning for Holiday Shipping at Fedex?


    1. How can the planning process help FedEx meet the company’s goal of meeting on-time
    delivery promises?
    2. FedEx noted that inclement weather and last-minute online sales surges impacted the
    company’s ability to deliver packages by Christmas. How could planning help overcome
    unexpected challenges such as these in the future
    3. Would it be valuable for FedEx to gather competitor intelligence? Why or why not?
    4. What other trends could affect the shipping industry in the future?

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