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Planning - Coggle Diagram
Planning
Types of Planning
Operational plan
Short-term plan (1-2 years)
Contingency plans
To cope with emergencies or unexpected circumstances
Tactical Plan
Breaking the plan down (1-2 years)
Human resource (manpower) plan
The future staffing needs of the business
Strategic Plan
Long term plan (5-10 years)
Financial plan
steps in planning
Create a plan
Implement the plan
Set the goal
Review the plan
Asses the current situation
SMART plans
Achievable
Must be realistic
Relevant
Must be relevant
Measurable
Evidence that the goal has been achieved
Timed
Must have a target date
Specific
Must clearly state its goal
Benefits of planning
Benchmarking
Comparing planned targets and actual results
Improves motivation
All employees know the future goals
Identify SWOT
Identify and exploit strengths ,weaknesses ,opportunities and threats
Finance
Helps obtain finance
Anticipate probems
Anticipate future problems to overcome them when they arise
SWOT
Weaknesses
Internal
Opportunities
External
Strenghts
Internal
Threats
External
Planning occurs when management looks to the future and sets specific goals for the business.