A plan is an organised way of doing something. An effective plan is one that has been arranged after careful consideration, for conducting a future activity. The term "planning" denotes organising how something should be done, especially how a company should be run to make profits.
Planning is the process of selecting realistically attainable business objectives and formulating the general policies and the specific directions needed to achieve these objectives.
Long range planning can be defined as an exercise aimed at formulating a long-term plan, to meet future needs estimated usually by extrapolation of present or known needs. It begins with the current…show more content… Unless this can be achieved, the venture would not be making a meaningful contribution to society, and there would be no justification for being in business".
In 1967, CMC incorporated project management into their business model. They decided to utilise the Matrix organisational structure. This structured can be defined as an attempt to combine the advantages of the pure functional structure and the product organisational structure. It has been said that this structure is particularly suited for construction companies as they are "project driven".
Each project manager reports directly to the senior leadership in the company. Due to each project being a potential source of revenue, the power and authority used by the project managers came directly from the senior leadership. The project manager had complete responsibility and accountability for project success.
I believe this organisational structure was effective at the start of the company's existence given that CMC initially was a virtual pioneer in the field of prestressed concrete. In the beginning of the companies lifespan, CMC provide a "one stop shop" when a client could utilise CMC for all aspects of prestressed concrete incorporation into their construction project (sales, estimating, engineering, distribution). With limited competition at the time, CMC were highly sought after as they provided a product