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Planning - Essay Example

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Management (Name) (Institution) (Course) (Tutor) (Date) Introduction Michal Jones is a company that deals with buying and leasing of properties. It is a well established company and has been operating for sometime now with more of it sales being registered in the buying, selling and letting…
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Download file to see previous pages It is simply identifying the objectives of a company and finding the best ways of how to achieve them. Strategic planning starts from the desired end and its steps go backwards to get to the current status. On the other hand, long term planning begins with the current status and moves forward to meet the desired future needs. According to Adekola et al 2007, strategic planning looks at the big picture, and is flexible in determining its means as compared to other types of planning. At Michal Jones & Company strategic planning has been practiced in various ways. These ways include: pure planning and financial planning. Planning determines where an organization will be in the future, how it will get there, and how the organization will establish itself if it got there or not. Planning serves different functions in Michal Jones & Company. It has provided a clear focus for the organization, therefore, producing effectiveness and efficiency (Burtonshaw-Gunn et al 2009). Planning has also been the reason why the productivity of the organization has increased significantly due to increased effectiveness and efficiency. Planning has also been used in the solving of major problems in the organization. This is because a predetermined problem is solved before its occurrence due to effective and strategic planning. Moreover, at Michal Jones, planning has enabled the creation of a base for the company’s hence all deviations have been corrected to avoid major blows occurring in the organization. For effective planning to be established, the management at Michal Jones & Company has identified the purpose, which happens to be the key objective of the company. Lusthaus et al 1999 argues that, through the use of the organization’s mission statement elaboration has been made to the public and the potential buyers as a whole on what Michal Jones & Company seeks to achieve. The situation has been analyzed and is now an already existing program. Its defects are amended and the viable changes made. Alternatives present at Michal Jones & Company have been identified leading to a variety of ideas, activities, and solutions (Michael Jones & Company 2010). Creativity reigns in an effort to enhance brainstorming and members’ involvement in the formulation of the plan. The resources have been reviewed, and they have been listed down with regard to available time, money, human and physical resources (Paladino 2010). This ensures that the plan formulated conforms to the ability of Michal Jones & Company and not based on mere assumptions. Some of the impediments that have been witnessed at Michal Jones & Company with regard to effective planning are that planning leads to rigidity. This is because the set conditions may change, and this may contrast prevailing conditions at that particular time. When such a point comes by, flexibility is encouraged in an effort to negate the rigidity. Moreover, strategic planning is not easily facilitated in dynamic environments. Strategic planning also entails finances. No company or organization can be able to plan about the future without the knowledge of where to get the finances from (Reading 2004). In essence, finances go hand in hand with the planning strategy. At Michal Jones & Company, finances were solicited from the Banks as loan payable back in interest rates within a period of one year. Financial statements are very important in every ...Download file to see next pagesRead More
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