Perspective Management_3

Corporate Planning

• It is Setting down of long-term plan of development in a methodical manner, based upon all the available facts, in relating to the ultimate goals of a company and the ways it intends to achieve them. Time scales vary from one to three to ten years (even more in certain industries).

• Fundamental to the preparation of a corporate plan is the need to define exactly the area of business in which to be operative. A second requirement is that any such plan be flexible, subject to regular updating as events move to change the criteria upon which it is based.
• COMMUNICATION, integration, change, organization, implementation, participation, commitment, accountability, goals, strategy, objectives, control, feedback, resources, results, and coordination–– they are important factors in moving an organization from where it is to where it should be in the future?

CORPORATE PLANNING PROCESS

• STEP 1
Assess the previous period's plans
• STEP 2
Analyze / review customers / constituents satisfactions
• STEP 3
Assess the internal organization situation [SWOT ][strengths-weaknesses-opportunities-threats]Assess the external environment [ PEST ][political - economic-social-technology ]
• STEP 4
set strategic directions for the company
• STEP 5
determine / identify SWOT for each units*marketing*sales *manufacturing*supply chain*finance
• STEP 6
determine the requirements for performance levels.
• STEP 7
identify and evaluate objectives/ strategies
• STEP 8
choose strategies/objectives/goals for the next period.
• STEP 9
create corporate plan
• STEP 10
development of operating plan/ for units*marketing*sales *manufacturing*supply chain*finance
• STEP 11
development of budget / for units*marketing*sales *manufacturing*supply chain*finance etc
• STEP 12
development of implementation plan.
• STEP 13
monitoring system for the corporate plan.
• STEP 14
contingency plans.
• STEP 15
Rewards / incentives for achievements.
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