Managerial Planning

Managerial Planning is the 1st function in management. It also forms the basis for all other managerial functions of organizing, leading & controlling. Planning is the title of Part 3 of Management 2015 Book, which we introduced before in your channel Management with Merits, Manage to Prosper. The channel targets Arab people to equip them with the managerial and leadership competencies and skills to prosper and achieve their goals. Management 2015 book is the 1st book in the channel, which is to be discussed in the months of Sep, Oct & Nov 2019. In addition to introducing the book before in a previous video, we have started discussing it by finishing Part 2 in the last session (Basics of Management in Today’s Workplace) and Part 1 (Introduction to Management) in a previous session. To download the associated presentation with this video in PDF, please go to the link below the video in Youtube in the description section. To go directly to our Youtube channel and access the playlist of Management 2015 book, please click here

Managerial Planning - Contents of Part 3 of Management Book
Part 3 – Planning (Management 2015 Book)
Source: Robbins, P. & Coulter, R. (2015). Management. (13h edn). U.S.A.: Pearson  

Managerial Planning is simply the management function that involves setting goals (What do we want to achieve?), establishing strategies for achieving those goals, (How to achieve?), and developing plans to integrate and coordinate work activities (Details of how to achieve). Thus, planning has two basic parts, which are the goals (What do we want?) and the Plans (How can we reach? – The Means).

The majority of companies, especially successful ones, do managerial planning.  Thus, they make their own goals & plans. There are several types of goals and plans depending on the categorization basis. For example, if we consider time, we can have long term (3 years or more) and short term (one year or less) goals/plans. In the same manner, taking breadth into account, the division can be made into broad strategic (affecting the whole corporation) or functional (affecting only one area like marketing) plans/goals.

 

Managerial Planning - Types of goals & plans in companies
Types of Goals/Plans
Source: Robbins, P. & Coulter, R. (2015). Management. (13h edn). U.S.A.: Pearson  

 

When companies perform formal managerial planning, they are actually guided by their strategic path (vision, mission, values) in choosing & implementing a specific approach for goal-setting. The most popular one followed in practice is the traditional approach. Using this method, Strategic corporate goals are formulated by the top management (strategic planning team), then they cascade throughout the organizational levels whose managers formulate branch goals that lead to achieve the strategic ones. Thus, goals are formulated in a descending manner (up to down), whereas achieving these goals is done by an ascending scheme (down to up) via a (Means-Ends) chain. By this approach, achieving goals in the lower levels (their ends) become means (ways) for upper levels to achieve their respective goals as well until achieving the top corporate goals. 

Despite the popularity of the traditional approach, it might encounter some problems, which are actually present in reality. With big hierarchy, vagueness of plans & poor communication, interpretation of strategic plans by the lower levels might be ambiguous, which leads to problems in branch and lower goals formulation and implementation. This might cause lower level departments and employees to focus only on increasing production and reducing cost, without taking quality into serious consideration. The below shape explains how such distortion in the goals and plans might happen.  

Managerial Planning - The downside of traditional goal setting
The Down-side of Traditional Goal-Setting
Source: Robbins, P. & Coulter, R. (2015). Management. (13h edn). U.S.A.: Pearson  

As a result of the above, corporations might use other goal-setting methods such as Management by Objectives (MBO) and the Balanced Score-Card (BSC). More details about them can be found in the attached PDF presentation. 

Part 3 (Planning) of our Management 2015 Book contains a chapter named: Strategic Management, which will be fully discussed when we take Strategic Management (2017 – 16th Edition) Book, one of the books that the channel will present. It’s a great American book by Fred & Forest R. David, published by Pearson, U.S.A. Briefly speaking, strategies are the means or methods to achieve goals. Besides, managing strategies involves three interrelated processes, which are strategy planning (formulation), implementation & evaluation.

 Strategic Management Book- كتاب الإدارة الاستراتيجية 2017، أحد الكتب التي ستناقشها القناة
Strategic Management Book (2017)

 

The last section of Part 3 (Planning) of the book is a module called: “Creating & Leading Entrepreneurial Ventures”. This topic will be deeply discussed in the 2nd book of our channel: “Entrepreneurship – Successfully Making New Ventures – 4th Edition 2012” by Barringer & Ireland, published by Pearson, U.S.A. The book was introduced in a previous video. 

معرض الصور - كتاب ريادة الأعمال و 
 Entrepreneurship Book المشاريع الاستثمارية، الكتاب الثاني
Entrepreneurship Book (2012)

Thank you so much for watching and following us. Ensure to be with us every Thursday in your channel: Management with Merits – Manage to Prosper. Next lesson will be about the 2nd managerial function: Organizing. Please subscribe to our channel and activate the notifications bell. Kindly follow, participate and share the channel via all our electronic platforms by going to the Contact Us Page. 

20 thoughts on “Managerial Planning

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