Managers forecast to gauge the future. The purpose of forecasting is to become aware of environmental factors that will affect the business in order to plan for it objectively. The two activities in the forecast step of the planning process are
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All organisations need information to make effective decisions and to plan for the future. The information must be analysed and we must consider its implications
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It is important for management to have a clear picture of where they are going and how they will get there.
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During the planning process, there are two types of external inputs that need to be considered, namely opportunities/threats and strategic plans.
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There are nine distinct steps in the planning process. Each of these steps have activities associated with it. The activities are intertwined during the planning and management process.
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Principles to keep in mind to plan more efficiently
- The principle of current choices
- The principle of planning stability
- The principle of resistance to change
- The principle of uniform planning outcomes
- The principle of commitment
- The principle of limiting factor
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Managers need to proactively plan the future of their companies. They must identify threats and opportunities in advance and decide how to respond. Even better if a company can actively manipulate the future to the company’s advantage.
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A manager does not operate in isolation. Everything happens in a certain context. The internal and external environments in which the manager operate can be quite complex and need to be monitored.
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We all have different roles to play. Sometimes these roles can be conflicting. For example, we may need to spend a lot of time at work to provide financial stability to our household. But at the same time, we are expected to spend time with our families. We may also be expected to serve as a leaders and mentors in society and serve on committees. All these conflicting demands cause tension and may have a detrimental effect on ourselves.
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Every manager do two types of work. The first is his managerial work, which consists of planning, organizing, directing and control. The second is operational or technical work which comes with his line of work.
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