broad plans based on the company’s vision, mission, and values that address the company as a whole.
used to create more specific plans that will boost the company’s well-being.
TACTICAL PLANS
focuses on creating plans for specific areas of the company.
translate broader plans into functional goals for each department.
OPERATIONAL PLANS
by frontline / low-level managers
marketing campaigns, campus recruitment.
formulation of ongoing plans that define specific operations of the organization.
Policy a set of principles that guide managers in addressing a particular issue
Rule - a regulation which describes and regulates the functions of an organization
Procedure a step-by-step process in accomplishing a task or achieving an organization
CONTINGENCY PLANS
created to manage all possible risks that may arise from the original plan.
CRISIS MANAGEMENT PLAN
plan made for any kind of crisis such as industrial disasters or natural disasters.
SCENARIO PLANNING
plans for both positive and negative scenarios that may arise from implementation of plans.
possible outcomes are analyzed and appropriate steps are identified.
PLANNING PROCESS
I. Formulate the goals and objectives
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II. Identify the courses of actions
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III. Assign responsibilities
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IV. Document the plan and distribute to people concerned
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V. Review the plan and adjust accordingly
TOP-LEVEL MANAGEMENT PLANNING
Corporate strategy is usually conceptualized by the chief executive offices and other members of the top management.
general business strategy which is concerned with building a competitive advantage for a single business unit of a diversified company.
MIDDLE-LEVEL MANAGEMENT PLANNING
Functional strategy determines a particular function or process and is formulated by middle management officers.
LOW-LEVEL MANAGEMENT PLANNING
Operational strategy - a narrower and more focused strategy formulated by low-level managers or frontline supervisors.
Financial Resources - the capital or investment that a company needs to start and sustain the business.
Human Resources - the company’s primary assets and are composed of employees who possess the skills and competencies needed for specific tasks and operations .
Physical Resources - include production facilities, distribution channels, and information technology systems that enable the execution of strategies.