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 TermVRIO
VRIO is an acronym for the four question framework an analyst should ask about a resource or capability to determine its competitive potential: 1) a question of value, 2) a question of rarity, 3) aquestion of Imitability, e.g., ease/difficulty to imitate the capability, and 4) a question of Organization, e.g. an ability to exploit the resource or capability.
The Question of Value: "Is the firm able to exploit an opportunity or neutralize an external threat with the resource/capability?"
The Question of Rarity: "Is control of the resource/capability in the hands of a relative few?"
The Question of Imitability: "Is it difficult to imitate, and will there be significant cost disadvantage to a firm trying to obtain, develop, or duplicate the resource/capability?"
The Question of Organization: "Is the firm organized, ready, and able to exploit the resource/capability?"
Featured Planning TipWhat gets measured gets managed. Peter Drucker once said, “What gets measured, gets managed.” He recognized that we need to understand how we are doing to get better at doing it. The problem also occur when we measure the wrong thing and try to manage it because we can measure it.