Planning

Planning is an organizational process of creating a plan. As such, it is a fundamental property of intelligent behaviour.

A plan is an arrangement for doing and/or using something in order to achieve a goal. A goal is the most important thing in planning. We can prepare a short- or a long-term plan depending on the activities. A plan is the most important document and a key to growth. It should present a realistic view of the expectations.

It is important to prepare a plan keeping in view the necessities of the enterprise. That helps management to clarify and research their business’s or project’s development and prospects.

Planning can play a vital role in helping to avoid mistakes or recognize hidden opportunities. The planning process enables management to understand more clearly what they want to achieve, and how and when they can do it.

A well-prepared business plan demonstrates that the managers know the business and that they have thought it over in terms of products, management, finances and, most importantly, market and competition.

Planning is not done off-hand. Any plan should be prepared after careful and extensive research. Besides desktop research, you have to communicate with the customers and find out their needs and demands. While planning, these demands should be taken into account. When the necessary information is collected, you have to consider options. Then next step is to estimate costs and to develop the budget. Objectives and deadlines should be set, managers responsible for gaining the objectives should be appointed.

When the situation changes, and sometimes not for the better, it’s important to stand back, reassess the situation and redefine the goal. It might even mean changing one’s end goal, but always knowing exactly what you want to achieve

is the important thing.

A plan will not solve all our problems. However, it is one of the components of success.

Keys to successful planning

1. Have a clear idea about your business goal.

2. Choose the structure for your business carefully. It will lead you logically through all the activities.

3. Remember customer needs.

4. Identify the tasks that are necessary.

5. Set realistic deadlines.

6. Provide time and money for the planning process.

7. Focus on results at the end of every stage of the process. Be ready to reconsider your plans according to the situation.

<== попередня сторінка	\|	наступна сторінка ==>
I. The Managing Director of a Hong Kong-based hotel group is talking to his managers about the group’s future plans. Underline the plans that he mentions.	\|	III. Answer the questions.

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