Fromthe research, I learned that organization management refers to theprocess of planning, controlling, leading, and organizing resourcesof a business with the primary goal of achieving set targets. Forthe organizational administration of a company to be both effectiveand efficient, combining all the elements of management is important.The primary purpose of dividing the process of corporate managementinto different components is to make sure that it can get a clearpicture of what goals of each department are and also find out themost efficient way to implement them. The internal and externalfactors of the organization are also handled rapidly by ensuring thatthe process is divided into some components. I agree that theplanning aspect of an organizational management is the mostcompelling one as it is the first step in ensuring that theorganization runs smoothly.
Planningas an Aspect of Management
Iagree with the statement that planning is a component of managementthat is concerned with how the organization defines its futuredirection, and determines the resources to use in the process ofachieving its goals. In the course of the study I also learned thatthe manager of an organization may come up with some plans such asbusiness plans, sales plans, and marketing plans, depending on whatthey want to achieve in the organization. Under planning, theorganization identifies its short and long term objectives and comesup with the desired strategies on how best to achieve them. I agreewith this statement as planning is very vital in determining whetheror not an organization achieves its goals. Planning is the primaryresponsibility of the management team as it sets the ground for theother components of organizational management. The process ofcorporate planning also entails staffing and resource allocation withthe primary aim of achieving the organizational goals.
Significanceof Planning in an Organization
Ifound out that planning plays a significant role in corporatemanagement as it helps the business to follow a path that will assistin achieving its goals and objectives. It is true that planningstarts with the administration of the organization reviewing how thecurrent operations are running and identifying what needs to beimproved in specific areas. After identification of the goals, theadministration also envisions what results it wants to achieve andlooks for the necessary steps that can help in obtaining the desiredoutcomes. Such results could be measured in financial terms or goals,which may include the organization being rated the highest concerningits customer satisfaction.
Afterthe research, I realized that planning, as a component oforganizational management, has some advantages as discussed below
EfficientUse of Resources
Allbusiness and organizations, regardless of their size, have limitedresources that need to be planned well so that they can help theorganization in achieving its goals. The planning process is used toprovide the management team with information necessary in makinginformed decisions on how to efficiently allocate the limitedresources so that the business can achieve its goals. Withoutplanning, the company wastes a lot of supplies haphazardly thus, ithas a limited chance of achieving its set goals. Even for nonprofitorganizations, efficient use of resources helps in minimizing theoperational costs and making sure that an organization achieves moregoals with fewer resources.
Oneaspect of the planning process is to set goals that challenge everystaff member in the organization to strive and ensure that thebusiness performs better than its competitors. Establishingaggressive but realistic goals helps the team to stay focused on thecourse hence, stands in a good position of achieving its targets. Anorganization needs to be in constant planning for the future so thatit will not lose ground to its competitors. The goal setting processis a significant point that can help organizations and managers toalign the business’ vision with the needs of its clients.Establishing goals also help an organization to focus into the futureand make the remedy to situations that may not be helping inachieving those goals.
ManagingRisk and Uncertainty
Theprocess of planning in an organization plays a significant role as ithelps the organization to manage risk and uncertainty. Risk anduncertainty are brought by an economic and competitive environmentthat surrounds such businesses. Managing risks is essential to thebusiness`s success and can be the difference between achieving goalsand failing to achieve them. The business has to deal with unforeseenevents that occur unexpectedly thus, it needs to deal with thembefore they lead to financial losses. With planning, the managementof an organization develops some "what-if" scenarios wherethey envision possible risk factors and develop some plans that canhelp in dealing with them.
Theprocess of planning also helps in team building and encouraging aspirit of cooperation as it helps all staff members, in anorganization, to be focused in achieving the same goal. Themanagement comes up with a plan and communicates it with othermembers of the group and, thus, each employee knows theirresponsibilities. Each staff member can see how their workcontributed to the overall success of the business and, thus, takecredit for it. Staff members are also able to see that the goals ofthe organization were able to be achieved due to cooperation amongsome team members this motivate all members and makes themappreciate teamwork.
Throughthe process of planning, an organization can view their currentweaknesses and strengths hence, compare themselves with theircompetitors. This statement is true as the management can see areaswhere their competitors are vulnerable and come up with marketingstrategies to take advantage and solve of such situations. Observinghow competitors do things can also help the organization inidentifying the opportunities that they may have overlooked. Healthycompetition helps an organization see the areas of operation thatneed improvement so as to give it a competitive edge in the market.
Managingan Organization through Planning
Planningis an important role in any organization regardless of whether theorganization is a sole proprietorship, a corporate, or a nonprofitone. Managing an organization through planning takes many forms, andthe process is meant to steer the business into profitable andsuccessful futures. For example, development planning can help themanagement in running the organization through creating a diverse,high-performance workforce that is composed of satisfied and loyalemployees. Organizations that perform better do not happen by luckrather it takes years of planning and successful plan implementation.Workforce development planning entails setting employee goals andcoming up with training programs that are aimed at producing informedand experienced employees.
Productplanning is done with the chief goal of ensuring that theorganization creates appealing products than their competitors. It ishandled by finance, marketing, and operations department under thesupervision of the company management. Further, it helps theorganization to manage the different departments with the goal ofmaking them work together to achieve organizational targets. Theharmony created among the different departments of an organizationhelp to smoothen its operations making the achievement of goals easy.
Anotherway, through which management is conducted via planning, is throughexpansion and growth of the organization. Growth plans in anorganization are meant to identify opportunities and roadblocks thatprevent it from achieving its goals and come up with strategies thatcan overcome such hurdles. Every business has some options on how tokeep their companies growing, hence it depends on how theorganization views the available options.
Organizationalmanagement is also done through financial planning whereby a businessmakes and lay platforms necessary in managing debts as well as in theutilization of their profits in the most productive way. Financialplanning enables the company to invest all available cash, thusearning some returns instead of making it lie in a bank.
Inconclusion, I learned that planning is an essential component oforganizational management as it helps the company to set priorities,focus on available resources and energy, ensure both stakeholders andemployees work together, and strengthen and boost operations. Themain purpose of planning is to make sure that all departments of theorganization work together with the aim of achieving the overallorganizational goals. The planning component of corporate managementis compelling as it is the first step in ensuring that alldepartments of the organization run smoothly. As I see it,organizations need to understand that without planning, it would behard to any organization, whether profitable or not, to be successfulin its endeavors since there is no plan on how it can achieve itsgoals