II.

• STRATEGIC PLANS by the top management

  • 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.
• 1. 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 

  V

  II. Identify the courses of actions 

  V

  III. Assign responsibilities 

  V

  IV. Document the plan and distribute to people concerned 

  V

  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.