Briefly explain how planning and monitoring helps organizations, managers and individual job-holders to achieve results, and the types of plans that managers need to understand.
Planning and monitoring helps organizations and its stakeholders in various ways. They act as evidences regarding the effectiveness and efficiency of the investors and funding agencies of the organization. The organizational achievements are communicated through planning and monitoring processes to the public at large. These processes help the managers in knowing their strengths and weaknesses related to their job performances that can help in yielding desired results. They help and support in the internal planning and development processes of the organization. Planning and monitoring makes the organization more accountable towards various stakeholders.
The plans which managers need to understand include operational, tactical and strategic. With the help of operational plans tactical pans are achieved and tactical plans help in the achievement of strategic plans.
State how the use of external consultants may assist with the development of a strategic plan?
The external consultants will help in the proper scanning of the organization in terms of its strengths, weaknesses, opportunities and threats etc. Management consulting by external parties includes a wide range of organizational activities. The practices used by management consultants are defined differently by various firms. These experts can help in the formulation of strategies that are competitive at corporate and operational levels. They help in thinking outside the box while gathering knowledge about the competitors and the current market trends. They even help in the establishment of the alignment among the SBU’s, divisions and regions etc. They also help in the identification of the changes needed for supporting the strategic plans.
The operational plans of the organization are limited to one part of the organization. These are short term plans which are formed by the management for the achievement of the tactical objectives. They help in the systematic determination and scheduling of the current short-term activities that will further help in the achievement of the strategic planning objectives. Performances under the operational plans are monitored through the management performance indicators (MPI). Through operational plans the directions are provided to people for performing day to day tasks essential for the proper functioning of the organization. Operational plans are regularly referred by the management and staff for performing their everyday tasks. These plans provide guidelines for what, when, who and how much to the workers.