Understanding Planning Cycle With PG Diploma In Business Management

1. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management

2. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management Benjamin Franklin said something really insightful once. He said, “By failing to prepare, you are preparing to fall.” What he meant was that in order to succeed in work, you need to plan your course first and then walk on it. Planning is an ongoing process and is not a one day job. A proper planning cycle as is taught in PG Diploma in Business Management, is to bring together all facets of planning into a single unified process. Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02

3. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management Planning cycle is a crucial aspect of a lot of PG Courses in India and therefore, today we have come up with a stepwise guide to a successful planning cycle: Step 1 - Analyse It All Step 2 - The Aim Of The Plan Step 3 - Look For Solutions Step 4 - Identifying The Best Option Step 5 - Laying Out A Detailed Plan Step 6 - Evaluating The Plan As Well As Its Impact Step 7 - ImplementingChange If Needed Step 8 - Closure Of The Plan Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02

4. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management Step 1 - Analyse It All The foremost step in the planning cycle is to identify what needs to be done that is figuring out the problem statement. This would ultimately be your formal aim at the later stages of the planning cycle. In order to come up with the problem statement, you need to assess your current position and then decide what all can be done to improve it. You can use number otf techniques. Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02

5. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management SWOT Analysis is a very renowned analysis technique where a person assesses his strengths and weaknesses as well as his threats and opportunities. The other technique is doing the Risk analysis. This helps in spotting the various risks and weaknesses involved in the project thereby creating an opportunity for improvements and neutralising those risks. Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02

6. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management Step 2 - The Aim Of The Plan Once you are done with the analysis, you now need to choose precisely what the aim of your plan is. Having a clear aim streamlines your focus thereby preventing you from wasting time in non productive issues. You can present your aim as a “Mission Statement” and justify this statement by explaining how it will be beneficial to the organization. Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02

7. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management Step 3 - Look For Solutions Now that you know, what you are meaning to achieve, it is time to list down all possible options you have to achieve your goal. Generate as many options as possible and take a look at it one by one. Coming up with all possible solutions may help you to identify less obvious but more effective solutions. Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02

8. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management Step 4 - Identifying The Best Option Now that you have a list of all the options, go through each of it one by one so as to come up with the best option possible. Now, the final option could be an amalgamation of two or three original options or simply a middle way of all the options put together. Having the best option in hand would give you a head start towards achieving your aim. Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02

9. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management Step 5 - Laying Out A Detailed Plan By this step, you will have a pretty good picture of where you are and what you need to do to achieve your aim. After selecting the most effective option, you need to detail that option and convert it into a detailed plan. This would include breaking it into tasks, assigning the tasks, calculating individual as well as overall effort, estimation of time and cost and so on. Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02

10. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management While laying down a detailed plan, it is also important to come up with a control mechanism so that you can monitor the performance at each step and introduce necessary fixes if required. Step 6 - Evaluating The Plan As Well As Its Impact A plan may look promising when it was a single statement but after detailing it, does it still look promising? Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02

11. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management That is what, you need to decide at this stage. Before putting your plan in action, try to run your plan in your head and see the possible fallouts and their impact. This would help you decide if the plan is worth implementing or not. Step 7 - Implementing Change If Needed Once you are satisfied, that your plan is worth implementing, it is time to implement it and monitor it on the daily basis. Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02

12. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management Nothing in this world is perfect and so your plan would have its fallouts. Having a daily tab on your plan would help bring necessary changes thereby improving the overall execution of the plan. Step 8 - Closure Of The Plan This might seems like an unnecessary step but this is somewhat crucial. Once you have achieved your aim, it is time to close the plan. Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02

13. Understanding Planning Cycle With PG Understanding Planning Cycle With PG Diploma In Business Management Diploma In Business Management But before this closure, it is always good to look back and see if there are any lessons to learn for the future. This would not only help you improve in the future projects but would also give you a clearer vision regarding a planning cycle. Email : admissions@vjim.edu.in : Phone : +91 40 2304 4901/02