Foundation_Of_Planning

Foundation_Of_Planning - FM Project 01 Foundations Of...

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FM Project 01 – Foundations Of Planning Foundations Of Planning FM Project – ePGP01-2015-2017 Submitted To: DR. VENKATESH MURTHY Submission Date: 09-Feb-2016 Compiled and Submitted by: Vikas Saxena (ePGP01.002) Rohan Shrikant Pandit (ePGP01.004) Yuvraj Jalinder Dhage(ePGP01.019) Syed Mohammed Areeb (ePGP01.028) RAMAN SHARMA (ePGP01.037) Mohit Arora (ePGP01.046) 1 I i ndian i I nstitute o O f m M anagement , Rohtak
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FOUNDATIONS OF PLANNING 2 I i ndian i I nstitute o O f m M anagement , Rohtak
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FM Project 01 – Foundations Of Planning Contents INTRODUCTION ........................................................................................................................................ 3 MAIN TASKS OF STRATEGIC MANAGEMENT ....................................................................................... 4 STRATEGIC MANAGEMENT ................................................................................................................ 4 VITAL OBJECTIVES OF STRATEGIC MANAGEMENT ........................................................................... 5 PROCESS OF STRATEGIC PLANNING .................................................................................................. 6 INFERENCE ............................................................................................................................................... 7 CONCLUSION ............................................................................................................................................ 7 REFERENCES: .......................................................................................................................................... 8 3 I i ndian i I nstitute o O f m M anagement , Rohtak
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INTRODUCTION Management is an art of controlling things and getting things done through the people. Extending these thoughts, Henry Fayol has precisely said, “To manage is to forecast, to plan, to organize, to command, to coordinate and to control.” As we are aware that to do simple task in our daily routine life, firstly we think about what to do , after that we make plan for execution & then we execute that plan to complete that task successfully. Now, think about if for a simple task , we need to plan then organisation which run the business in crores, how planning is important for that . That's why to make project a big hit, it is always advisable to put more efforts in planning rather than in execution . More time we invest in planning , more exposure we get which will be helpful to tackle problems in execution steps of the project . In simple terms, Planning can be defined as to think about the process, make a roadmap & simply go ahead for the execution of that process. The core of coming up with the structure of engagements that will trump a goal is called as PLANNING. The aim of this project is to understand why planning is the golden Key of success in complex organization. Planning process refers to the devising and maintaining a workable scheme to accomplish the business need that the project was undertaken to address. Planning provides executing with a documented project plan early on, and then provides documented updates to the plan as the project progresses. 4 I i ndian i I nstitute o O f m M anagement , Rohtak
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FM Project 01 – Foundations Of Planning Planning is of major importance to an organization because the organization involves doing something which has not been done before. 5 I i ndian i I nstitute o O f m M anagement , Rohtak
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MAIN TASKS OF STRATEGIC MANAGEMENT STRATEGIC MANAGEMENT Strategic management is a sub-set of management and is concerned with the general direction and long-term of a business, which is distinct from its day-to-day life operations. A decision concerning the long-term policy of a business is referred to as strategy. In simple words, what an organization is trying to achieve is called its objectives and how the organization is going to achieve it is called strategy. To determine the strategy of an
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