Loreal Planning Process Essay

1316 WordsApr 18, 20116 Pages
Loreal Planning Process Planning Process is the task of setting objectives, specifying how to achieve them, implementing the plan and evaluating the results (Boddy 2005:169). The key theoretical elements of the planning process are: Vision: Is concerned with what the organisation aspires to be. Its purpose is to set out a view of the future so as the enthuse, gain commitment and stretch performance (Johnson et al 2008:164). Mission: Aims to provide employees and stakeholders with clarity about the overall purpose and raison d’être of the organisations. It is therefore do to with building understanding and confidence about how the strategy of the organisation relates to that purpose (Johnson et al 2008:164). Values: Define the way that the organisation operates. Of particular importance are an organisation’s core values – these are the underlying principles that guide an organisation’s strategy (Johnson et al 2008:163). Goals and Objectives: are desired outcomes for individuals, groups, and entire organisations. They turn the generalities of mission statements into specific commitments – what is to be done by when. (Boddy 2005:178-9). Plans: Effective plans can clarify direction, motivate people, use resources efficiently and allow people to measure progress towards objectives (Boddy 2005:190). Monitor: In order to monitor satisfactorily, management need to set standards and targets in respect of key objectives, as both strategic and operational levels. It also needs to ensure that information system are in place (Boddy 2005:248). Evaluate: Strategy evaluation is the appraisal of plans and the results plans that centrally concern or affect the basic mission of an enterprise. Its focus in the separation between obvious current operation results and those factors which underline success or failure in the chosen domain activity (Mintzberg et al,

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