Planning, decision-making and Control

8^th of October, my 4^th class of ‘Principles of Management’ the lesson was on ‘Planning, Decision Making and Control’ in Fashion Marketing. Prof. Northway gave a lecture on the establishment of different plans undertaken by the managers, measurement of plans, considering the role of decision making in planning and determination of successful implementation of a plan; controlled to ensure a successful business. He explained about planning, its necessities and implementation. I came to know that there are different types of plans (business plan, strategic plan and operational plans). I learnt about ‘planning to grow businesses on Managerial role and about SMART measurement.

Specific: a clear statement with a specific target.

Measurable: to illustrate how progress is being made.

Achievable: it should be challenging and attainable.

Reward: achieving the objective should be rewarding.

Time: the objective should be time specific and of a certain standard.

During the class, Prof. Northway asked us to watch the video ‘Henry Mintzberg on Decision Making’ for further information. The video was enlightening and I understood the different ways of management practice.
What I learned from this is that every business enterprise has its own predetermined objectives to be achieved. In order to achieve the objectives in the best possible manner, it requires a lo of mental exercise based upon imagination, foresight and judgment for deciding the tasks to be undertaken and the techniques to be adopted. No doubt, the success lies in the effective and sound planning, which undoubtly determines the future course of action.

In case, we do not plan our future activities, we shall pursue disorderly line of action; adopt ‘hit or miss’ method and meet the failure. We shall identify the mistakes committed in the process of action at a very late stage after washing a lot of resources. It emphasizes that the efficient management must foresee the future determine the goal, take into consideration its available resources, socio-economic environment and plan its course of future action.

Definition of planning;

“Planning I  mental predisposition to do things in orderly way, to think, before acting and to act in the light of facts rather than guess.”-Urwick

“Planning is deciding the best alternative among others to perform different managerial operations in order to achieve the predetermined goal.”-Henry Fayol

“Planning is selecting and relating of facts in the visualization and formation of proposed activities believed necessary to achieve desired results.”-George R.Terry

“Planning is a thinking process, the organized foresight, the vision based on fact and experience, that is required for intelligent action.”-Alford and Beaty