Page 12 - 6484

understand a complete, clear rationale for categorizing skills and practices that
compose the whole of the P-O-L-C framework.
It is important to note that this framework is not without criticism. Specifically,
these criticisms stem from the observation that the P-O-L-C functions might be ideal

but that they do not accurately depict the day-to-day actions of actual
[1]
managers. The typical day in the life of a manager at any level can be fragmented
and hectic, with the constant threat of having priorities dictated by the law of the
trivial many and important few (i.e., the 80/20 rule). However, the general conclusion
seems to be that the P-O-L-C functions of management still provide a very useful
way of classifying the activities managers engage in as they attempt to achieve
[2]
organizational goals.

Planning
Planning is the function of management that involves setting objectives and
determining a course of action for achieving those objectives. Planning requires that
managers be aware of environmental conditions facing their organization and forecast
future conditions. It also requires that managers be good decision makers.
Planning is a process consisting of several steps. The process begins
with environmental scanning which simply means that planners must be aware of the
critical contingencies facing their organization in terms of economic conditions, their
competitors, and their customers. Planners must then attempt to forecast future
conditions. These forecasts form the basis for planning.
Planners must establish objectives, which are statements of what needs to be
achieved and when. Planners must then identify alternative courses of action for
achieving objectives. After evaluating the various alternatives, planners must make

decisions about the best courses of action for achieving objectives. They must then
formulate necessary steps and ensure effective implementation of plans. Finally,
planners must constantly evaluate the success of their plans and take corrective action
when necessary.
There are many different types of plans and planning.
Strategic planning involves analyzing competitive opportunities and threats, as
well as the strengths and weaknesses of the organization, and then determining how
to position the organization to compete effectively in their environment. Strategic
planning has a long time frame, often three years or more. Strategic planning
generally includes the entire organization and includes formulation of objectives.
Strategic planning is often based on the organization’s mission, which is its
fundamental reason for existence. An organization’s top management most often
conducts strategic planning.

12