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PLANNING IN MANAGMENT (CONTINGENCY PLANNING (1.- Risk assessment
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PLANNING IN MANAGMENT
Is the part of managment that deals with the creatios of procedures, rules and guidelines to achive an established objective.
STRATEGIC PLAN
Is a high-level overview of the entire business, its vision, objectives and values.
The managers of each level will be based on the strategic plan to guide their decisions. It will also influence the culture within the organization and how to interact with customers and the media.
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TACTICAL PLAN
Describes the tactics that the organization plans to use to achive the ambitions described in the strategic plan.
It is a short-term document, low level that breaks down the broad mission statements into smaller, executable pieces.
-If the strategic plan is a response to what?, the tactical plan responds to how?.
The tactical plan is a very flexible document; It can contain anything and everything necessary to achive the goals of the organization.
There are some components shared by most tactical plans:
1.- Specific Goals with Deadlines
2.- Budgets
3.- Resources
4.- Marketing, Financing, etc.
It develops in detail the planning of the operation of each one of the areas of the company from the frame of reference elaborated in the strategic level.
Elaborate the directive to use the resources assigned to each area in the most effective way possible to achieve the expected objectives.
OPERATIONAL PLAN
Describes the day to day running of the company and draws a roadmap to achieve tactical objectives within a realistic time frame.
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Can be single-use, or continuous use as described below:
1.- Single use plans
2.- Permanent plans:
-Policies
-Rules
-Procedures
Permanent plans are created with an ad-hoc character but can be repeated and changed as necessary. The operational plans aling the strategic plan of the company with the day to day of the company.
It corresponds to the allocation of specific tasks. It is developed based on the guidelines provided by the strategic and tactical planning levels.
This level is directed and executed by the bosses with the lowest hierarchical rank in the company. It fulfills very specific tasks, such as production and operation of products and services.
CONTINGENCY PLANNING
1.- Risk assessment
a)Address all bussiness-critical operations
b)Identify risks (Risk analysis)
c)Prioritizing risks (Risks impact/probability charts
To carry out a risk analysis, follow these steps:
1.- Identify threats:
-Human
-Operational
-Reputational
-Project
-Financial
-Technical
-Natural
-Political
-Structural
2.- Estimate Risk
2.- Developing the plan
-Your main goal is to maintain business operations
-Define time peiods
-Identify the trigger
-Keep the plan simple
-Consider related resurce restrictions
-Identify everyone's needs
-Define success
-Incluide contingency plans in standard operating
-Manage your risks
-Identify operational inefficiencies
3.- Maintaining the plan
After you prepare the contingency plan, you need to do several things to keep it practical and relevant.
Steps in the contingency plan maintenance process:
-Communicate
-Inform
-Provide
-Conduct
-Assess
-Review
-Distribute
-Keep
-Audit
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