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There are two types of planning that firms normally engage in with a view to increasing profits and maximizing the value of the stakeholders. One is strategic planning which is long range in nature and deals with the overall direction of the firm, anticipating significant developments and changes that will have a major impact on the firm and industry. On the other hand, operational planning is a blueprint detailing where the firm wants to be at some future point in time and what resources are needed to get it there. Operational plans begin with operational objectives that define where the firm wants to be at the end of the planning period. The operational plan includes a marketing plan, a production plan, a human resource plan, and a financial plan (Brigham and Ehrhardt, 2014) . The marketing plan lays out the resources needed to meet operational objectives and may include such specific details like advertising strategy, marketing promotions, channels of distributions, and sales territories. The production plan consists of facilities like plant refurbishments and expansions, supplier arrangements, inventory control, etc. The human resource plan deals with the personnel aspects of the organization. The financial plan specifies the resources that are needed to fulfill the objectives of the business.
Discuss the significance of the following maxim with particular reference to financial planning: "If you don't plan, you are planning to fail". Cite relevant examples to illustrate your point.
Haroldson Inc, started selling for $22 per share the last dividend well was $1.20 and dividends are expected to grow at a 6% annual rate. flotation costs on new stocks sales are 5% of the selling price. what is the cost of Haroldson's retained earnin..
Several samples of size 5 each were taken from a fertilizer-bag-filling machine. The results were: Overall mean lbs; Average range lbs. Determine the upper and lower control limits of the chart. Please give the formulas for calculating UCL and LCL an..
In strategic management, the primary value of SWOT is that it enables a firm to. Setting reasonably attainable objectives and providing training and support would be the best management approach to an employee who
Carolyn Martin of Rainmaker Thinking Inc. encourages her clients to develop mentoring programs so that important company and industry knowledge is passed from older to younger employees. "[Older workers] are walking out the door with a gold mine of e..
You recently announced that your company, Swiming Fox, Inc, is considering launching a new line of swimwear that you predict will be the next “big thing”. You already have a line of swim wear that is a staple for athletes. What are some of your most ..
A company is making facial tissues. What type of inspection plan would you recommend as the tissues are being manufactured.
Explain the stages of Moral Development according to Kohlberg with appropriate illustrations and examples
As we learn from our course text this week, the e-marketing plan is normally a part of an organization’s overall marketing plan, aligning with the business unit’s overall goals and strategies. What is to be included on the Title page when uploading a..
You meet with them to discuss the matter. Using the Internet and suggested readings, discuss your recommendation (with a brief rationale) for a suitable BI software solution to depict this data.
Find out replacement chips for its product lines here is demand over past 12 quarters. Use decomposition technique to forecast 4 quarters of 2010.
What are consequences of negative dimensions of this organizational culture? In what ways are they harmful to organization its employees, suppliers and customer
You operate a small wooden toy company making two products: alphabet blocks and wooden trucks. Your profit is $30 per box of blocks and $ 40 per box of trucks. Producing a box of blocks requires one hour of woodworking and two hours of painting; prod..
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