1. Planning – deciding what work will be done and how it will be accomplished Objective: Discuss the Nature of Planning as a Management Function

2. Four Functions of Management  Planning  Organizing  Leading  Controlling

3. Planning Process Set goals Determine what needs done to accomplish them Implement actions Evaluate results

4. Barriers to Effective Planning  Trouble making accurate forecasts  Time  Cost  Internal inflexibilities  External inflexibilities  Rapid change

5. Characteristics of Effective Planning  Simplicity  Flexibility  Linked to long-term objectives  Consistency  Feasibility  Direction for action

6. Types of Planning  Strategic Planning Company level goals  Tactical Planning Division level goals  Operational Planning Specific procedures for departments/individuals  Contingency Planning Emergencies, setbacks, unexpected conditions