GROUP 1 (ORMA) SHARON DELICA BLOCK 9.pptx

Planning and techniques and tools and their applications

1. Planning techniques and tools and their applications (GRADE 11- BLOCK 9 GROUP 1

2. Objectives: In this lesson, planning allows you to convert your targets into achievements. It helps you devise a merchanism and chart a course for reaching your set goals.

3. DIFFERENT TECHNIQUES and tools

4. 1. forecasting Is an attempt to predict what may happen in the future. Forecast used may either be Quantitative or qualitative QUANTITATIVE - uses mathematical calculations and statistical analyses of surveys or research. QUALITATIVE- based on opinions of prominent economist.

5. 2. Contingency planning Facrtors may offer alternative courses of action when the unexpected happens or when things go wrong. It must be prepared by managers. Contingency factors called “trigger points” indicate when the prepared alternative plan should be implemented.

6. 3. Scenario planning A planning for future states of affair s is a long-term version of contingency planning. Alternative plans must be prepared in order to meet changes or challenges in the future.an organization can make necessary adjustments in their strategies ang challenges in the future. Some challenges and changes that may arise in future scenarios like: environmental pollution, human rights violations, climate and weather changes, earthquake damages to communities, and others.

7. 4 . BENCHMARKING a planning technique that generally involves external comparisons of a company's practices and technologies with those of other companies

8. 5. Participatory planning is a planning process that includes the people who will be affected by the plans and those who will be asked to implement them in all planning steps.

9. Other planning techniques and tools that can be used

10. MANAGEMENT BY OBJECTIVES (MBO) Peter Ducker used this term 1954 and applied it is an approach to planning, MBO drawn a great ideas of attention among the academics and practitioners.

11. BREAK EVEN ANALYSIS even charts are used for planning purposes and almost every manager makes a profit plan and break-even analysis is useful in developing it. Using the break-even charts, even point, that is, the point at which total cost equal total reversue , can be determined. Using this chart, manager can say whether the company can sell enough products to heale even and plan accordingly.