Short Run Planning

382 Words2 Pages
Short – run Planning Planning is proactive. It means looking ahead and chalking out future courses of action to be followed. It is a preparatory step in making decisions. It is a systematic activity which determines when, how and who is going to perform a specific job. Planning is a detailed program regarding future course of actions. When it comes to planning, there are three steps. Strategic planning; which is determining the best approach to achieve an organization's long-term goals and objectives. Intermediate planning; the way that the strategic plans are being pursued and there is short- run planning. Short run planning is similar to short-term goals and they are the ways to meet the goals of intermediate plans. This concept refers to the decision-making time frame of a firm, in which at least one factor of production is fixed. A media company can make three changes in the short-run: Increase production, by getting the latest technology to speed up production, hiring only the very smartest employees and trying to keep up with all the trends. Decrease production, which might include laying off staff members if the company is not making their predicted figures and shut down the whole production. Short- run planning are usually susceptible to becoming reactive, meaning if something unforeseen happens, the plans must be altered. Some of these strategies may not match the long- term or intermediate plans of the company and it may even be counterproductive to the overall vision of the company, this is why short- run plans needs to have flexible strategic plans to overcome this unexpected changes. Planning is the essence of good management. Planning starts with a vision supported by a mission statement connected to measureable goals. Short- run planning ideally involves establishing specific, measurable, attainable, realistic and time-targeted objectives. The
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