“Planning is deciding in advance what to do and who is going to do it”. Considering the fact, bring about the different types of plans an entrepreneur is going to express in the process of the required output.
Planning for what to do, how to do it, when to do it, and who must do it. Planning is the process by which managers set goals and figure out how to reach them. Planning is the process of choosing goals and missions and the actions that will help to meet target. It also requires decision-making, which is making a choice from a group of possible future actions.
Planning play important role for any business. Entrepreneur must use best planning for success of new start-up.
Strategic management is the part of the management process that deals with the overall integration of an organization’s internal divisions as well as the integration of the organization with its outside environment. Strategic management comes up with and implements tactics that try to match an organization as closely as possible to its task environment so that it can meet its goals, as well.
Strategic plans address the needs of the organization at the institutional level. Strategic plans show how the organization wants to be in the long run. They explain why the organization exists, what its long-term goals are, and how it plans to reach them.
When entrepreneur start to think about their business, they need to write down their mission. This is a statement that explains why business exists and answers the question, “What businesses should we start?” The mission and the strategic plan are two of the main things that help the organization decide what to do. Strategic plans have a number of important characteristics: They are long-term and help an organization understand its task environment; they are pervasive and cover many organizational activities; they integrate, guide, and control activities for both the short and long term; and they set limits for managers to make decisions about what they can and cannot do.
Operating plans give the technical core of the company a direction and a list of things to do. These are called administrative plans, and they help connect institutional-level plans with operating plans, as well as tie together all of the technical core’s plans.
Another type of plan is a frequency-of-use plan. Some plans are used over and over again, while others are only used once. Standing plans, such as rules, policies, and procedures, are designed to cover problems that managers have to deal with over and over again. Managers, for example, may be worried about tardiness, which may happen a lot in the whole work group. These managers might decide to set up a rule that will be used every time an employee is late for work. A standard operating procedure is a procedure that is used when there is a long-term plan in place (SOP).
They are made for specific situations or problems and are usually changed after just one use. Single-use plans are usually changed after just one use. A lot of managers use programs, projects, and budgets, which are all single-use plans that are used only once. A picture shows how standing and single-use plans are different from each other.
The time-frame plans of the company show how important it is for them to think about the future. To show how important it is to plan for the future, short-, medium-, and long-range plans show how important it is. Hofstede’s classification of cultures around the world in terms of how they think about the future, we’ll see that short, medium, and long range times are very different from organization to organization. He came up with a plan for the company that bears his name that lasted for 250 years.
These plans aren’t just different because of how long they last. They also vary in other ways, like how much time they cover. Most of the time, the further a plan looks into the future, the more uncertainty planners face. As a result, long-term plans tend to be less detailed than short-term plans. There is also a lot of uncertainty in long-range plans because of this. So, they are usually less formal, less detailed, and more flexible than short-range plans. Long-term plans, on the other hand, are more likely to be directed in some way.
The contingency plans
All type of Organizations often do contingency planning, which is also known as scenario or “what if” planning. When entrepreneur think back, they will remember that the planning process is based on certain assumptions about what is likely to happen in an organization’s world. This is why contingency plans are made to deal with what might happen if these assumptions prove to be wrong. Thus, contingency planning is the creation of alternative plans of action that can be used if something goes awry with a plan. A contingency plan allows management to act quickly if an unplanned event, such as a strike, boycott, natural disaster, or major economic shift, makes existing plans ineffective or ineffective. To deal with things like terrorism and air disasters, airlines come up with plans for how to deal with them. Most contingency plans never get used, but when they do, they are very important.
Managers come up with a lot of different types of plans based on how often they are used, how long they last, and how big their start-up. Last plan i.e. contingency plans must prepare that can be used if something goes wrong in very turbulent environments.