To be a good manager, you should put a plan for your business to reach more productivity. the planning is very important because it provides the information top management needs to make effective decisions about how to allocate the resources in a way that will enable the business to reach its objectives. so we will discuss the different types of planning.
Types of Planning in Management
In the management field, There are skills level pyramid that help in management and planning that any manager should know to enhance its business. then he should know the following types of planning in management:
Is used to plan strategic plans and describes single-use plans that are created for events and activities with a single occurrence and ongoing plans that describes the step-by-step process for accomplishing particular objectives. the Key components of an operational plan include:
- Clear objectives.
- Activities to be delivered.
- Quality standards.
- Key targets and key performance indicators.
- Risk management plan.
- Staffing and resource requirements.
- Implementation of timetables.
- A process for monitoring progress.
Is used to set priorities, focus energy and resources. It’s the foundational basis of the business and will dictate long-term decisions. and also is used to ensure that employees and other stakeholders are working toward common goals. the key components of a strategic plan include:
- Mission, vision, and aspirations.
- Core values.
- Strengths, weaknesses, opportunities, and threats.
- Objectives, strategies, and operational tactics.
- Measurements and funding streams.
Is used to support strategic planning by translating them into specific plans relevant to a distinct area of the business. It includes tactics that the business plans to use to achieve what’s outlined in the strategic plan. tactical planning is important for management consulting companies are often hired to assist companies in preparing tactical plans. A company usually begins with its objectives and then develops strategies for how to carry out their objectives.
Is used to risk management for an exceptional risk. it can be helpful in circumstances that call for a change. contingency planning allows a business to return to its daily operations as quickly as possible after an unforeseen event. The contingency plan protects resources, minimizes customer inconvenience and identifies key staff, assigning specific responsibilities in the context of the recovery. the process of the steps you can use to prepare a contingency plan for your business:
- Identify Key Risks.
- Prioritize the Risks.
- Create a Contingency Plan.
- Maintain the Plan.