Planning management mainly deals with the setting of company’s goals. Management planning involves a series of steps. These steps should be followed as per the letter to achieve the goals of the company. The issues that influence planning management includes the legal issues which relate to the laws and regulations under which the business operates. Ethical factors like, portraying the correct image of the company, and the corporate social responsibility of firm to the public must be carefully analyzed. Factors influencing the firm’s strategic, tactical, operational and contingency planning are also analyzed so that the firm can realize its goals.
For any company, management planning is an extremely critical task that must be carefully handled.
Planning is a function of the management that involves setting goals and choosing the best methods to achieve them. This is done primarily to enable the organization to develop and move in the right direction. It is also important because it enables the company to operate efficiently. Planning is necessary in all departments for the goals of the organization to be achieved. This planning includes several steps:
Establishment of objectives
It is essential that we employ a systematic approach to desired aims and ambition. For planning to begin, we have to carefully set our goals and ambition that we wish to achieve in this economic year. These objectives are the core of everything in planning, and must be stated clearly both qualitatively and quantitatively. This enables the management to decide on the number of employees needed, the units of production required per day and the wages of the workers. These goals also justify the reasons as to why we venture into various activities such as advertisement and promotions.
Establishment of planning premises
These are assumptions made about the way the future of the company may turn out. This is beneficial because it helps us to establish the places and points where we normally go wrong in the implementation process, and also to find out the reasons behind these deviations. Through this, we get to find out the obstacles that we may encounter on the way and how we may avoid or by pass such obstacles in order to achieve our goals. This also plays a significant role in determining the capital investment policy and our philosophy of management.
Choice of alternative course of action
When the first two steps are in place, it is vital that we have a backup plan. These alternative plans must be considered on the basis of their advantages and shortcomings depending on the resources available. The consequences of choosing these alternatives are also considered before any decision is made.
Formulation of derivative plans
These are secondary plans, which help in, the achievements of the primary plan. These plans mainly include budgeting, work programs, rules and regulation policies among others. These plans are beneficial because they show the schedule and pattern with which various tasks are accomplished within the allocated time.
When the plans have been determined, it is mandatory that those responsible for the implementation of the plans be included in the decision making, even if they are subordinate staff. This is to increase their motivation to work and to enable the organization get the best ideas in the implementation process.
This is simply a follow up, that is done after everything has been put in place. This is done by getting feedback from the departments or the other concerned parties and evaluating them. This enables the management to correct the minor problems, or modify the plan. This process should go hand in hand with the implementation process so that in future the plans can be better than the current ones.
Issues influencing management planning
According to the nature of the BP products, the company to adhere to the laws and regulations, set by the government on this business plan. For examples, we are required to ensure that, every person who works with us, whether in the premises, or on transit, we must create a detailed plan to ensure that all the damaged items are immediately repaired.
BP ethical issues, must also be evaluated because they affect the management planning. Such ethical issues mainly entail the advertisement of our products and services. There are laws and regulations that should be followed when carrying out promotion we are expected not to overdo things to entice unknowing clients. This issue must be dealt on by the departments concerned.
Corporate social responsibility is another factor that must be checked. We have millions of clients who use our products and services every day. It is company’s social responsibility to make sure that, all products are safe for usage. It is also necessary that the business entire products meet the environmental friendly concerns to protect future, potential clients.
For a well-established firm, for example, BP strategic planning is undoubtedly the biggest goal that the company aims. This plan is notable because it is used to maximize the sales of products. Strategic planning also enables the company to build outstanding reputation in the society by offering natural products and services. Production of eco-friendly items is very helpful in this sector due to the ever growing environmental concerns.
All these factors when well combined and implemented can contribute to quality and sound management plan. This will imply that the future of the company will be bright and certainly successful.