Principles Of Management (BIC1014) Planning PDF

PRINCIPLES OF MANAGEMENT (BIC1014) Planning Attendance Professor Sr Dr. Hafez Salleh FRISM, Reg. CQS(BQSM) Dept. of Quantity Surveying, University of Malaya  MAIN ELEMENTS...

PRINCIPLES OF MANAGEMENT (BIC1014) Planning Attendance Professor Sr Dr. Hafez Salleh FRISM, Reg. CQS(BQSM) Dept. of Quantity Surveying, University of Malaya  MAIN ELEMENTS Principles of Management 01 02 03 04 PLANNING ORGANIZING LEADING CONTROLLING Involves setting Involves arranging and Focuses on motivating, The process of monitoring organizational goals, structuring the resources influencing, and guiding and evaluating the objectives, strategies, (human, financial, employees to work towards organization's allocating resources, and physical, and achieving the organization's performance to ensure developing detailed plans goals. This element involves that it aligns with the informational), creating to guide the organization. communication, leadership, established plans and departments, assigning motivation, and the responsibilities, objectives. It involves resolution of conflicts. establishing reporting measuring actual relationships, and performance against the coordinating activities. standards set Levels of Management 3 PRINCIPLES OF MANAGEMENT  Steps Involved in the Planning Process 4 PRINCIPLES OF MANAGEMENT Setting Objectives Environmental Formulating Resource and Goals Analysis (SWOT Strategies Allocation 1 2 Analysis) 3 4 Monitoring and Risk Budgeting Action Measurement Assessment Planning 8 7 and Mitigation 6 5 Communication Implementation Evaluation and Adaptation and and Alignment Feedback Revision 9 10 11 12 Setting Objectives and Goals 5 PRINCIPLES OF MANAGEMENT Planning begins with setting clear and specific objectives and goals. These goals should be SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) to provide a clear direction. Specific – not vague Measurable – quantifiable Attainable – realistic Results-oriented Target dates – deadlines Environmental Analysis (SWOT Analysis) 6 PRINCIPLES OF MANAGEMENT Organizations conduct a thorough analysis of their internal and external environments. This includes identifying strengths, weaknesses, opportunities, and threats (SWOT) that may impact the organization's ability to achieve its goals Formulating Strategies 7 PRINCIPLES OF MANAGEMENT Strategies are developed to outline the overall approach and tactics for achieving the objectives. Strategies consider how the organization will leverage its strengths, address weaknesses, seize opportunities, and mitigate threats Resources Allocation 8 PRINCIPLES OF MANAGEMENT Planning includes allocating necessary resources such as finances, human resources, technology, and materials to support the strategies and achieve the goals Action Planning 9 PRINCIPLES OF MANAGEMENT Detailed action plans are created to break down the strategies into specific tasks, responsibilities, and timelines. Each action plan outlines what needs to be done, who is responsible, and when it should be completed  Budgeting 10 PRINCIPLES OF MANAGEMENT Financial planning is an integral part of the planning process. Budgets are prepared to allocate funds to various activities and projects in line with the organization's goals and priorities Risk Assessment & Mitigation 11 PRINCIPLES OF MANAGEMENT Identifying potential risks and uncertainties is important in planning. Organizations assess risks and develop contingency plans to mitigate adverse effects on the achievement of objectives Monitoring and Measurement 12 PRINCIPLES OF MANAGEMENT Planning includes establishing key performance indicators (KPIs) and metrics to measure progress toward goals. Regular monitoring and measurement help organizations track performance and make necessary adjustments. Communication & Alignment 13 PRINCIPLES OF MANAGEMENT It is essential to communicate the plan to all relevant stakeholders, ensuring that everyone understands their roles and how their work contributes to the organization's goals. Alignment of activities with the plan is crucial Implementation 14 PRINCIPLES OF MANAGEMENT Once the plan is developed, it is put into action. Implementation involves executing the action plans, allocating resources, and overseeing day-to-day activities to ensure that tasks are completed as planned Evaluation & Feedback 15 PRINCIPLES OF MANAGEMENT Periodic evaluation of progress against the plan is essential. Organizations assess whether goals are being met and gather feedback from stakeholders to identify areas for improvement Adaptation & Revision 16 PRINCIPLES OF MANAGEMENT Plans are not static documents; they may need to be adjusted based on changing circumstances or new information. Adaptation and revision ensure that the plan remains relevant and effective.  Year 1 Year 2 Year 3 ACTIVITIES Period Semester 1 Semester 2 Semester 3 Semester 4 Semester 5 Semester 6 Sep Oct Nov Dec Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun July Aug 17 UM Research Methods classes 2 months Research Proposal Presentation 1 month Phase 1 - Research Proposal 7 months Problems Identification 7 months Research aims, objectives & research questions 8 months Literature Review Progress (Chapter 1, 2 & 3) 4 months Preparation, Video Presentation & Correction for Conference Proceeding) 3 months Proposal Defense Phase 2 - Pilot Study 1 month Preparing questions for interview protocol 1 month Conducting semi-structured interviews 1 month Correction based of the SVs & experts feedbacks 3 months Preparation & Submission for 2nd Publication Phase 3 - Main & Secondary Data Collection (Quali Approach) 2 months Content validity of quali instruments 8 months Primary Data collection (Multiple Embedded Case Studies) 10 months Analyse Data from Case Studies (concurrent with the data collection) 2 months Secondary Data collection (Comparative Study from Existing Protocols etc.) 2 months Analyse Data for Comparative Study 3 months Preparation & Submission for 3rd Publication 3 months Candidature Defense Phase 4 - Expert Panels Review & Validation (Quali Approach) 2 months Experts review & validation 2 months Analyse data 3 months Drafts submission 3 months Preparation & Submission for 4th Publication 3 months Thesis Seminar 3 months Completing final draft / intention to submit 3 months Viva - voce & Correction Period GOT Note :- Progress of work Publication RESEARCH MASTER PLANNING UM Milestones (Proposal Defense, Candidature Defense & Thesis Seminar)  18 How the planning process can be applied in managing a company How the planning 19 process can be applied in managing a company Step 1: Setting Objectives and Goals Company Goal: Expand the product line by launching two new products within the next 18 months and entering two new international markets. SMART Goals: Launch two new products (Product A and Product B) by Q3 of next year. Enter European and Asian markets by Q4 of next year. Increase revenue by 25% within two years. How the planning 20 process can be applied in managing a company Step 2: Environmental Analysis (SWOT Analysis) The company conducts a SWOT analysis to assess its internal strengths and weaknesses and external opportunities and threats. Strengths: Established brand, strong R&D, advanced manufacturing capabilities. Weaknesses: Limited international experience, high dependence on domestic markets. Opportunities: Growing demand in Europe and Asia, potential for product innovation. Threats: Competitive global market, fluctuating exchange rates, regulatory challenges. How the planning 21 process can be applied in managing a company Step 3: Formulating Strategies Based on the SWOT analysis, the company formulates the following strategies: Product Development Strategy: Focus on innovation and quality to differentiate the new products from competitors. Market Entry Strategy: Partner with local distributors and invest in localized marketing for the European and Asian markets. Risk Mitigation Strategy: Hedge against currency fluctuations and ensure compliance with international regulations. How the planning 22 process can be applied in managing a company Step 4: Resource Allocation The company allocates resources to support its strategic goals: Financial Resources: Allocate a budget of RM 5 million for product development and RM 3 million for international market expansion. Human Resources: Create new teams for product development and international market entry. Technology Resources: Invest in new production lines to handle the increased manufacturing demand. How the planning 23 process can be applied in managing a company Step 5: Action Planning Specific action plans are developed to execute the strategies: Product A Development Timeline: o R&D completed by Q1. o Prototype testing by Q2. o Full-scale production by Q3. European & Asian Market Entry Timeline: o Market research by Q1. o Distributor agreements by Q2. o Product launch by Q4. How the planning 24 process can be applied in managing a company Step 6: Budgeting The company creates a detailed budget to support the new product launches and market entry strategies: Product Development Budget: RM 5 million for R&D, testing, and production. Market Entry Budget: RM 3 million for market research, marketing campaigns, and distribution partnerships. How the planning 25 process can be applied in managing a company Step 7: Risk Assessment and Mitigation The company identifies key risks and creates mitigation strategies: Risk: Delays in product development. o Mitigation: Implement agile development processes to ensure flexibility and on-time delivery. Risk: Regulatory issues in international markets. o Mitigation: Partner with local legal experts to ensure compliance with all regulations. How the planning 26 process can be applied in managing a company Step 8: Monitoring and Measurement The company sets Key Performance Indicators (KPIs) to monitor progress: KPIs for Product Development: Track milestones such as completion of prototypes, production deadlines, and product launch dates. KPIs for Market Entry: Measure the success of distributor agreements, marketing campaigns, and sales growth in new markets. How the planning 27 process can be applied in managing a company Step 9: Communication and Alignment The company ensures that all departments are aligned with the plan: Internal Communication: Regular meetings with the R&D, marketing, and sales teams to ensure everyone is working toward the same goals. External Communication: Constant communication with distributors and partners in the target markets to keep them informed of product launches and marketing strategies. How the planning 28 process can be applied in managing a company Step 10: Implementation The company moves forward with the execution of its plan: Product Development: The R&D team develops prototypes, conducts testing, and begins production. Market Entry: The marketing and sales teams establish distributor relationships, launch marketing campaigns, and prepare for the product launch in new regions. How the planning 29 process can be applied in managing a company Step 11: Evaluation and Feedback The company evaluates its progress at key milestones: Product Development: Regular progress reviews on product quality, production timelines, and customer feedback from early testers. Market Entry: Monitor sales performance in the new markets and evaluate the effectiveness of marketing campaigns. How the planning 30 process can be applied in managing a company Step 12: Adaptation and Revision The company revises its plan as needed: Product A: If production delays occur, the timeline is adjusted, and additional resources are allocated to speed up the process. Market Entry: If sales in one region are underperforming, the company revises its marketing strategy and invests more in market research.  31 How the planning process can be applied to manage a project How the planning 32 process can be applied to manage a project Step 1: Setting Objectives and Goals Project Objective: Successfully develop and launch a new smartphone within 12 months that meets market demand, with a sales target of 1 million units in the first year. SMART Goals: o Design, prototype, and test the new smartphone by the end of Month 6. o Launch the product in the market by Month 12. o Achieve a 15% market share within the first year of launch. How the planning 33 process can be applied to manage a project Step 2: Environmental Analysis (SWOT Analysis) The project team conducts a SWOT analysis to assess the internal and external environment affecting the project. Strengths: Strong R&D team, innovative technology, loyal customer base. Weaknesses: Limited production capacity, high development costs. Opportunities: Growing demand for mid- range smartphones, emerging markets. Threats: Strong competition from established brands, potential delays due to supply chain disruptions. How the planning 34 process can be applied to manage a project Step 3: Formulating Strategies Based on the SWOT analysis, the project team formulates strategies to guide the project: Product Development Strategy: Focus on creating unique features (e.g., a powerful camera, long battery life) to differentiate the product from competitors. Market Entry Strategy: Target emerging markets where competition is less intense, and demand is rising. Cost Management Strategy: Keep production costs low by outsourcing some components to third-party manufacturers. How the planning 35 process can be applied to manage a project Step 4: Resource Allocation The project team allocates the necessary resources: Financial Resources: Allocate RM 10 million for R&D, RM 5 million for marketing, and RM 2 million for manufacturing setup. Human Resources: Assign engineers, designers, and marketing experts to the project. Technology Resources: Use the latest software tools for design and prototyping. How the planning 36 process can be applied to manage a project Step 5: Action Planning The team creates a detailed action plan with timelines for each phase of the project: Research and Development (R&D): o Months 1-3: Complete design specifications and initial prototyping. o Months 4-6: Refine the prototype based on testing and feedback. Marketing Plan: o Months 7-9: Develop a marketing campaign targeting potential customers in key markets. Production Plan: o Months 8-10: Finalize agreements with manufacturers and set up production lines. How the planning 37 process can be applied to manage a project Step 6: Budgeting The team creates a budget that allocates funds to different activities: R&D Budget: RM 10 million for design, prototyping, and testing. Marketing Budget: RM 5 million for promotional campaigns and product launch events. Production Budget: RM 2 million for sourcing components and setting up assembly lines. How the planning 38 process can be applied to manage a project Step 7: Risk Assessment and Mitigation Potential risks are identified, and mitigation strategies are developed: Risk: Delays in receiving key components from suppliers. o Mitigation: Secure contracts with multiple suppliers to ensure timely delivery. Risk: Customer dissatisfaction with the product’s performance. o Mitigation: Conduct extensive testing and gather feedback from early adopters before the full-scale launch. How the planning 39 process can be applied to manage a project Step 8: Monitoring and Measurement Key Performance Indicators (KPIs) are established to track the project’s progress: KPIs for Product Development: Completion of design milestones, prototype test results, and user satisfaction scores. KPIs for Marketing: Engagement rates on social media, website traffic, and number of pre-orders. KPIs for Sales: Sales figures after the product launch, market share, and customer feedback. How the planning 40 process can be applied to manage a project Step 9: Communication and Alignment The team ensures clear communication and alignment throughout the project: Internal Communication: Weekly team meetings to review progress and address any issues. External Communication: Regular updates to stakeholders, including executives and investors, on the project’s status. How the planning 41 process can be applied to manage a project Step 10: Implementation The project team implements the plan by executing the product development, marketing, and production strategies: R&D Execution: Engineers finalize the smartphone design and begin production of prototypes. Marketing Execution: The marketing team launches promotional activities and creates awareness about the upcoming smartphone. Production Execution: Manufacturing starts after the prototype passes all tests, ensuring products are ready for the market launch. How the planning 42 process can be applied to manage a project Step 11: Evaluation and Feedback Regular evaluations are conducted to assess the project’s performance: Prototype Evaluation: The team gathers feedback from testers and makes necessary improvements to the smartphone design. Marketing Evaluation: The team reviews the effectiveness of advertising campaigns and adjusts strategies based on customer responses. How the planning 43 process can be applied to manage a project Step 12: Adaptation and Revision The team adapts based on evaluation results: Product Revisions: If testers identify issues with battery life, the team allocates additional time to optimize performance before mass production. Marketing Adjustments: If initial feedback indicates high demand in certain regions, the marketing budget is reallocated to focus on those areas.  44 How the planning process can be applied for Budget 2025 How the planning 45 process can be applied for Budget 2025 Step 1: Setting Objectives and Goals The objectives of Budget 2025 aim to: Drive economic growth post-COVID-19 and during global economic uncertainty. Achieve inclusive development across all sectors and regions of Malaysia. Strengthen fiscal sustainability and reduce national debt. Support vulnerable populations and improve social welfare. The SMART Goals include: Increase GDP growth by 5% in 2025. Reduce fiscal deficit from 4.5% to 3.5% by 2025. Allocate 15% of the budget to healthcare and education reforms. How the planning 46 process can be applied for Budget 2025 Step 2: Environmental Analysis (SWOT Analysis) The government conducts a SWOT analysis to assess internal and external factors influencing the budget. Strengths: Stable political environment, increasing foreign direct investments, robust infrastructure. Weaknesses: High national debt levels, reliance on oil and gas revenues. Opportunities: Growth in digital economy sectors, green technologies, and renewable energy. Threats: Global economic slowdown, geopolitical risks, inflation, and supply chain disruptions. How the planning 47 process can be applied for Budget 2025 Step 3: Formulating Strategies Based on the SWOT analysis, the following strategies are formulated for Budget 2025: Economic Growth Strategy: Promote technology-driven industries (e.g., fintech, renewable energy) and SMEs. Social Welfare Strategy: Expand welfare programs, especially targeted subsidies for lower-income groups (B40). Sustainability Strategy: Invest in green projects, reduce carbon emissions, and develop renewable energy sources. How the planning 48 process can be applied for Budget 2025 Step 4: Resource Allocation The government allocates financial resources based on the strategic goals: Development Budget: RM60 billion for infrastructure projects, such as roads, schools, hospitals, and green energy. Social Welfare Budget: RM35 billion for subsidies and healthcare reforms targeting lower-income groups. Defense and Security Budget: RM15 billion to ensure national security and protect from external threats. How the planning 49 process can be applied for Budget 2025 Step 5: Action Planning The action plan for implementing Budget 2025 includes: Economic Measures: RM25 billion in incentives for SMEs, technology start- ups, and the agricultural sector. Social Programs: Healthcare subsidies, free school meals, and public housing initiatives are rolled out by Q1 2025. Infrastructure Projects: Key projects, such as high-speed railways, are planned for Q2 2025. How the planning 50 process can be applied for Budget 2025 Step 6: Budgeting A detailed breakdown of allocations: RM10 billion for healthcare infrastructure and services. RM5 billion for digital economy projects, including 5G expansion. RM7 billion for renewable energy initiatives, including solar and wind power. How the planning 51 process can be applied for Budget 2025 Step 7: Risk Assessment and Mitigation Potential risks for the Budget 2025 are identified and mitigation strategies developed: Risk: Global economic downturn affecting export revenue. o Mitigation: Diversify revenue streams by promoting non-oil-based industries. Risk: Inflationary pressures reducing purchasing power. Mitigation: Implement price control measures and targeted subsidies. How the planning 52 process can be applied for Budget 2025 Step 8: Monitoring and Measurement Key Performance Indicators (KPIs) are set to monitor the implementation of Budget 2025: Economic Growth KPIs: Quarterly GDP growth figures, unemployment rate, and inflation rate. Social Welfare KPIs: Number of families receiving assistance, healthcare access improvement. Environmental KPIs: Reduction in carbon emissions and renewable energy adoption rates. How the planning 53 process can be applied for Budget 2025 Step 9: Communication and Alignment The government ensures communication and alignment with key stakeholders, including citizens, businesses, and civil society: Public Communication: The Ministry of Finance publishes a Budget 2025 White Paper, detailing the key measures and how they will benefit various sectors. Stakeholder Alignment: Regular engagement sessions with industries, SMEs, and vulnerable groups to gather feedback. How the planning 54 process can be applied for Budget 2025 Step 10: Implementation Budget 2025 measures are implemented as planned: January 2025: Financial incentives for SMEs are rolled out, and public healthcare funding increases are enacted. April 2025: Infrastructure development projects begin, including rural roads and clean energy plants. How the planning 55 process can be applied for Budget 2025 Step 11: Evaluation and Feedback Periodic evaluations are carried out to measure the progress of Budget 2025: Economic Evaluations: Quarterly economic reports track GDP growth, employment rates, and inflation. Social Evaluations: Assessments of healthcare improvements, poverty alleviation, and welfare benefits. Environmental Evaluations: Review of green projects, measuring carbon footprint reductions and renewable energy adoption. How the planning 56 process can be applied for Budget 2025 Step 12: Adaptation and Revision Based on the evaluations: If GDP growth is below target, the government may adjust fiscal policies by offering additional incentives for private sector investment. If inflation rises, price control measures or subsidy adjustments may be considered to stabilize the cost of living. Environmental Adjustments: If renewable energy goals are not met, additional funding or policy shifts may be made to accelerate adoption. Thank you and have a nice day ahead…