TAGBILARAN CITY COLLEGE
College of Business and Industry
Tagbilaran City, Bohol
Emily C. Tabigue
Course Code ABM104 Instructor
Charwen Namocatcat
Organization and etabigue.tcc@gmail.com
Course Title Email
Management cnamocatcat.tcc@gmail.com
Course Credits 3 Contact Number 0963-001-7912
Course Classification Consultation Hours
Pre-Requisite(s) Consultation Venue TCC Faculty Office
Learning Module 3 : Planning
Duration of Delivery : February 19 – 23, 2024
Due Date of Deliverables : February 23, 2024
Module 3 – Planning
Learning Outcomes:
Discuss the Nature of Planning
Identify the characteristics of effectively worded
vision statement.
Discuss the vision and mission statements.
The Nature of Planning
Planning is a primary management function. It
involves setting the direction and goals of an organization,
establishing a system that will define the activities of the
organization, and formulating a plan to ensure that the system
works toward achieving the goals of the organization.
Planning is also a continuous process. Strategies may
be revised and changed depending on the circumstances, and
these changes have an impact on the operations of the
company. The company has to quickly adapt to these changes
to ensure that it is still on track toward achieving goals.
Vision and Mission Statements
An important aspect of planning is defining the
company’s identity and reason for being. This embodied in
the company’s vision and mission statements.
A vision statement describes what the company wants
to achieve and where it wants to go in the future.
Below are the characteristics of effectively worded
vision statements:
Graphic – The vision project to the market the kind of
company that the management wants to create and the
kind of company it aspires to be.
To make people happy. (Walt Disney Corporation)
Directional – It describes the path where the company
wants to go and presents specific plans to move
forward in the future.
To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete.
(Nike)
Focused – The vision is very specific so managers are properly guided on what to do in terms of
resources and strategies.
Our vision serves as the framework for our roadmap and guides every aspect of our business by
describing what we need to accomplish in order to continue achieving sustainable, quality growth.
People: Be a great place to work where people are inspired to be the best they can be.
Partners: Nurture a winning network of customers and suppliers, where together we create mutual,,
enduring value.
Profit: Maximize long-term return to shareowners while being mindful of our overall
responsibilities. (The Coca-Cola Company)
Flexible - It allows a room for managers to change based on market situations, technological
advancement, and customer preferences.
Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and
most responsible ways of moving people. (Toyota Global)
Easy to communicate – The vision is easy to understand and can be simplified into a powerful slogan.
Our vision is to put joy in kid’s heart and a smile on parents’ faces.. (Toy “R” us)
Mission statement describes a company’s reason for its
existence. It answers the question what the company exist.
Mission should present the company’s unique identity that
distinguishes itself from competitors.
Goals and Objectives
Goals are specific accomplishments or action plans that
are usually attained after a long period. These are broader in cope
because the intentions are more general and involve outputs that
are intangible and non-measurable.
Objectives refer to action plan that involve shorter
periods and more measurable outputs. These tend to be more
specific and result in tangible outcomes.
Types of Plans
There are three main types of plans that a manager
uses in devising strategies to achieve company goals.
1. Strategic Plans – These plans are designed by the top
management such as the CEO or president. These are
usually broad plans based on the company’s vision,
mission and values, and address the company as a
whole.
2. Tactical Plans – While strategic plans involve the
company as a whole, tactical plans create specific plan
for specific areas of the company. The elements of
tactical plans include budget, resources, and goals with
specific deadlines.
3. Operational plans – These are specific procedures and
processes made by frontline or low-level managers.
Operational plans often involve specific events such as
marketing campaigns, campus recruitment.
Contingency Planning
A contingency plan is a special plan created for
unexpected scenarios or changes. All plans no matter how
carefully laid out, are not fully error-free.
One of the common types of contingency plans is
crisis management plan. It is a plan made in preparation for
any kind of crisis such as industrial disaster like fire, or natural
disasters like earthquake or a typhoon.
Scenario Planning is another form of contingency
planning. The company formulates plans for both positive and
negative scenarios that may arise from the implementation of
plans.
The Planning Process
There are five steps involved in the planning process.
1. Formulation of goals and objectives
2. Identification of the appropriate courses of action –
These courses of action determine the responsibilities that
will be assigned to specific personnel.
3. Assignment of responsibilities – requires setting
timeliness for the implementation of each course of action.
4. Documentation and distribution of the plan to the
people concern
5. Review of the plan – ensures that any proposed revisions
should be acknowledge, discussed, and approved.
Planning at Different Levels in the Firm
Top-level Management Planning
The corporate strategy is usually conceptualized by the
chief executive officer and other members of the top
management. The top management also formulates the general
business strategy. This is concerned with building a competitive
advantage for a single business unit of a diversified company.
Middle-level Management Planning
A functional strategy determines a particular function or
process and is formulated by middle-level management officers.
The one responsible for crafting a functional strategy is usually
the manager in charge of the department or area concerned. The general manager then makes the final
approval of the strategy.
Low-level Management Planning
An operation strategy is a narrower and more focused strategy
formulated by the low-level managers or frontline supervisor.
Operational planning requires the identification of resources that can
be utilized to achieve the outline plans and goals.
Financial resources – include the capital or investment that a
company needs to start and sustain the business.
Human resources – company’s primary assets and are
composed of employees who possess the skills and competencies
needed for task and operation.
Physical resources – include production facilities, information
technology systems that enable the execution of strategies.
The implementation of operational strategies involves all the levels of the firms, from the top
management to low-level managers. For that reason, a strategy that requires significant resources needs to
be carefully planned and changed.
