The Top Managers Of Malayan Banking Berhad

“Organizational Management and Leadership” defines planning as “the development of goals, which leads to the development of an overall strategy for achieving those goals. Planning can be performed at all levels of an organization. Supervisors are planning when a weekly work schedule is put together for hourly staff. Top executives are planning when they define the mission statement of the company and determine how the organization can maintain its competitive advantage.”

Planning consists of competitive moves and business approaches developed to attract, please customers, conduct operations, grow the business, gain competitive advantage, and achieve performance objectives (Huidan, 2011). There are three steps to planning. A manager must be able to decide what goals to pursue, the best strategy to achieve those goals, and how to use their available resources to achieve those goals as efficient as possible (Bethel University,

It also forms part of good business ethics and is good practice to keep people up to date at all times when things change or need to be changed. Failing to do so can result in other peoples work plans being out of sync.

The structure and design of organizations have drastically changed over the last twenty-five years. Organizations develop new goals at the beginning of the year or after the completion of previous goals, and heavily depend on planning to help achieve these goals. Planning is an integral part of organizational success, as upper management receives substantial information on various needs such as risk uncertainty, available resources, employee development, and unforeseen changes in technology (Daft, 2013). Most importantly, successful planning allows management to make effective decisions when unforeseen events arise within the organization. Not participating in planning is equivalent to taking a road trip across the country without a

Planning is the foundation of all the functions of management upon which the other three areas should be built. During planning, management must evaluate the company’s current situation and then developing strategies to achieve these goals, this is called strategic planning.

Anne, Planning is the most important function of management, planning provides clear concise directions for everyone in the organization. The importance of planning is that it provides attention on objectives and results, reduces uncertainty, gives direction for everyone, encourages team work and creativity, helps with decision making among many other important factors. Each organization is different in the approach they take in planning one’s organization. There are different plans that may be used depending on what you are trying to achieve.

Planning is defined as choosing a goal and developing a strategy to attain that goal.

Bateman and Snell (2003) state that "planning is the conscious, systematic process of making decisions about goals and activities that an individual, group, work unit, or organization will pursue in the future" (Planning and strategic management, p. 108). There are several levels in the planning process. Strategic planning involves setting long-term goals and is a function traditionally employed by top-level management. Newer models of strategic planning tend to involve all levels of management. Examples for strategic planning include profitability and productivity. Tactical planning is carried out by mid-level management and focuses on the required actions to achieve the strategic goals. At this point, the planning process is divided into

No two people go through life the same exact ways. Some choose to live moment to moment while others feel the need to have a grander plan for their future. People develop plans for different scenarios in their life to include what college they will attend, what profession they want to enter, the type of wedding and even, when they want to get married. Individuals who live by a plan can often be heard referencing their Plan B or five-to-ten year plan. Just as individuals like to plan, businesses also want a blueprint for their short- and long-term growth. Planning enables organizational leaders and managers to play a significant role in creating progressive objectives that enrich company productivity and

The planning stage is where all the other pats of management begin from and it is important at all levels of management.

Planning is considered to be a primary function of management. All organisations operate in a complex, dynamic and competitive business environment, and therefore, have to plan their actions without which they may not be able to survive.

Planning is a process of establishing a mission with clear goals as a means to achieve them. Good planning requires special skills and perspectives allowing decision-makers to understand the challenges they are facing and apply the most effective solution to a problem. In order to achieve success, one must plan accordingly. Planning can be short term or long term. Short term plans are done on daily basis and are easier to achieve than long term plans. Long term plans are also known as strategic plans and are used to achieve a long range vision or mission of a company. In both methods of planning, short term and long term, is necessary to achieve top notch results. Like in any other process, there are both benefits and pitfalls to a

According to Faiza, Suleman, & Safdar (2015) strategic planning is a well-known organizational management activity that is used by firms to “Set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results and assess and adjust the organization 's direction in response to a changing environment” (p. 795). Strategic planning is a set of essential decisions and actions that form and direct what a firm is, what it does, why it does it, who it does it for and what its future plans are. Thus, effective strategic planning can tell an organization how to measure its profits and achievements so that it will know if it is truly successful.

For managers to be successful they have to be able to plan accordingly. Any good manager can understand the importance of planning, because it is one of the most basic functions of managerial skills. A goal has to be established and strategies have to be conveyed to the subordinates. For example, If I’m a manager I will engage

Managers and organisations plan because it provides them with some direction and reduces uncertainty within the firm. It is also used to set standards for controlling, it is therefore very important within organisations. (Robbins, Bergman, Stagg & Coulter et al, 2006)