MARKETING MARKETING PLANNINGPLANNING

Sohaib Rabbani KhanMS (Marketing), PhD (In progress)

sohaibrabbani@yahoo.com

OrganizingOrganizing

PlanningPlanning

ControllingControlling

LeadingLeading

Basic Managerial Functions

Well Plan is half done

Planning is a mental predisposition to do things in an orderly way, to think before acting and to act in the light of facts rather than guesses. Planning is deciding best alternatives among others to perform different managerial functions in order to achieve predetermined goals. (Urwick)

According to Koontz and O’ Donnell,

“Planning is deciding in advance what to do, how to do and who is to do it. Planning bridges the gap between where we are to, where we want to go. It makes possible things to occur, which would not otherwise occur.”

Planning Planning involves tasks that must

be performed to attain organizational goals, outlining how the tasks must be performed, and indicating when they should be performed.

Steps in planning function: 1.Establishment of objectives2.Establishment of planning premises3.Choice of alternative course of action4.Formulation of derivative plans5.Securing cooperation6.Follow up / Appraisal of plans

Proper planning accomplishes the following

1.Managing uncertainty2.Better focus 3.Improves coordination 4.Basis for control 5.Improves effectiveness

Type of Plans Long term and short term plan Formal and informal plansProactive and reactive plansStrategic and operational plans

The Planning Process: 1. Goal setting: Identification and

formulation of objective2. Developing plans: Choice

between alternative plans 3. Implementation: Execution of

the plan

Successful planning process: 1. Everyone participates2. Board and staff educated in

planning3. Board and staff explore new ideas4. Board takes advantage of

opportunities5. Necessary resources available

Making planning effectiveLinked to long term objectivesConsistency Everyone participatesFeasible FlexibilitySimple Top management support

What is an objective?

“Objectives are goals, aims or purposes that organization wish over varying periods of time “

ControllingControlling involves monitoring actual performance, comparing actual to standards, and taking actions if necessary.

MBOA method by which managers

and employees define objectives for every department, project and person, and use them to

monitor subsequent performance

Five step MBO Process1.Organizational objectives

reviewed 2. Employee objectives set3.Progress monitored4.Performance evaluated 5.Achievers rewarded

The nature and purpose of MBOMBO is concerned with goal setting and planning for individual managers and their units

The essence of MBO is a process of joint goal setting between a supervisor and a subordinate

Managers work with their subordinates to establish performance goals that are consistent with higher organizational objectives

MBO helps to clarify hierarchy of objectives as a series of well defined means-ends chains.

Decisional RolesRoles that revolve around making choices.- Entrepreneur – Seeks opportunities. Basically they search for change, respond to it, and exploit it.- Negotiator – Represents the organization at major negotiations.- Resource Allocator – Makes or approves all significant decisions related to the allocation of resources.- Disturbance Handler – Responsible for corrective action when the organization faces disturbances.

Essential steps for MBO1. Set goals : The most difficult step2. Develop Action Plan: For both work groups and individuals3. Review progress / take corrective actions : Periodic during the year4. Appraise overall performance : Review annual goals

Advantages : Better communication and coordination –

Frequent reviews and interactions between superiors and subordinates

Motivation – involving employees in the whole process of goal setting and increasing employee empowerment

Clarity of goals Subordinates tend to have a higher

commitment to objectives

Disadvantages:Time consumingVolume of paper work

New Workplace Issues and Challenges

Technology and Speed

Globalization and Diversity

Knowledge, Learning,

Quality, and Continuous

Improvement

Change, Creativity, Innovation, and Entrepreneurship

Participative Management,

Empowerment, and Teams

KnowledgeManagement

Ethics and Social

Responsibility

Networking and Boundaryless Relationships

GENERATIONAL DIFFERENCES