Planning

Question 1

Define planning

Answer 1

The process of setting performance objectives and determining what actions need to be taken to achieve these goals.

Question 2

Discuss the planning theory ‘scenario planning’

Answer 2

Scenario planning utilises ‘what if’ scenarios. It is used so managers within their respective areas of operation can be better prepared for shocks to their work environment. A shock can be something like a terrorist attack, a new technological innovation or the global economic crisis. Scenario planning can better prepare the organisation to deal with instances such as this and will better prepare the organisation and its managers for future success.