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 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.