This document discusses the concepts and definitions of planning. Planning involves setting objectives and determining a course of action to achieve those objectives. It requires managers to be aware of environmental conditions and forecast the future. Planning is deciding in advance what needs to be done and involves selecting objectives, policies, and programs from alternatives. Key elements of planning include gathering information, setting goals, devising strategies, implementing plans, monitoring performance, and evaluating effectiveness. The document provides examples of companies like Nokia and Yahoo that declined due to a lack of planning, as well as examples of companies like Toyota and Tesla that improved through effective planning.

1. WELCOME
TOPIC- PLANNING
PRESENTED BY - TANISHQ SHAW

3. CONCEPT AND DEFINITONS OF PLANNING
MEANING
• Planning is the function of
management that involves setting
objectives and determining a course of
action for achieving those objectives.
Planning requires that managers be
aware of environmental conditions
facing their organization and forecast
future conditions.
DEFINITION
Planning is deciding in advance what is to
be done. It involves the selection of
objectives,policies,procedures,and
programmes from among alternatives.
--M.E.HURLEY

4. SETTING OBJECTIVES
FORMULATING DERIVATIVE
PLANS
ESTABLISHING PLANNING
PREMISES
IDENTIFYING
ALTERNATIVES
EVALUATION AND CHOICE
SECURING
COOOPERATION
FOLLOW UP OF PLANS

5. 6 KEY ELEMENTS OF PLANNING
• GATHER INFORMATION
• SET OBJECTIVES OF PLAN
• DEVISE STRATEGIES TO MEET GOALS
• IMPLEMENTION OF PLAN
• MONITORING PLAN’S PERFORMANCE
• EVALUATE THE EFFECTIVENESS OF PLAN

7. CASE STUDY ON IMPORTANCE OF PLANNING
COMPANIES THAT EXPERIENCED DOWNFALL DUE
TO LACK OF PROPER PLANNING
• NOKIA: One of the largest company that
drastically failed because they didn’t embrace
the concept of software and didn’t put their
focus on hardware due fear of having
alienation of the current users.
• YAHOO! :While web aggregation and the
online search was under the virgin territory,
yahoo charged their customers for services like
file sharing and e-mail. When this was
happening, Google, on the other hand,
provided these services for free of cost.
COMPANIES THAT EXPERIENCED UPGRADATION
FUE TO PROPER PLANNING
• TOYOTA:They studied their competitors(FORD) and
tried to copy what the Americans did so well. They
blended these processes with their strengths and came up
with something even better.Toyota proved that knowing
one's weaknesses can be the key to success - and be one
of the best business strategies you can ever deploy.
• TESLA: Tesla's supply chain strategy is one of the most brilliant
moves they've made. They knew early on that batteries would
present the biggest technological hurdle to their cars and the
biggest bottleneck to production.Rather than let this derail them,
they took complete control of their supply chain by investing in
battery manufacturers. This has the additional benefit of
simplifying diversification as Tesla can use those same batteries in
parallel business ventures such as their Powerwall