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Welcome to PlanningSkills.COM

This website focuses on a wide variety of topics related to organization and individual planning situations. The primary focus is business planning.

Planning is an anticipatory decision making process that involves situation analysis, forecasting outcomes and events, evaluating alternative courses of action, anticipating consequences and considering implementation issues and contingencies. Planning often begins with asking one or more questions, for example: What if ...? Could we ...? Do we ...? Is it possible...? How should we respond ...? How can we ...? Is it feasible to ...?

In general, planning is a proactive process that is intended to help individuals, groups and organizations achieve performance objectives.



Featured Glossary Term

Turnaround Strategy

A turnaround strategy is used when firms are struggling financially. The strategy usually involves cost reduction and asset reduction. Managers reduce costs by reducing staff, leasing rather than buying equipment, reducing marketing expenditures or R&D. Assets are also often sold to free up cash for new initiatives. In some cases assets are sold and then leased back by the company from the purchaser of the asset. Once costs are reduced and assets have been sold to generate cash a positive growth or diversification strategy must be implemented to complete the turnaround.


Featured Planning Tip

Be prepared to improvise Planning is the starting activity for finding a path to accomplishing goals. To reach success it is often necessary to improvise actions around the initial plan.

Improvise means taking action without detailed preparation; adapting to circumstances; extemporizing; performing with little or no preparation.

Change happens and we cannot forecast in detail what will happen and so we often need to improvise. Having a general strategy and improvising around the theme or thrust of the plan is often the only way to implement a strategy in a turbulent environment. Sometimes unexpected events arise and sometimes mistakes occur. Managers must improvise in these situations. A good manager needs to be adaptable and both anticipate change and react appropriately when events weren't anticipated to pursue goals and plans.







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Copyright © 2004-15 by D. J. Power (see his home page). PlanningSkills.COMsm is maintained by Alexander P. and Daniel J. Power. Please contact them at djpower1950@gmail.com with questions. See disclaimer and privacy statement. This page was last modified on December 8, 2015.
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