Planning is a process of brainstorming which involves establishing goals, devising strategies, and crafting

detailed action blueprints, including tasks, roles, and schedules, to accomplish specific objectives within
a defined timeframe. Forecasting is a type of imagination in which you apply different practices of
making predictions about future events or outcomes by analyzing historical data, employing statistical
methods, and projecting potential future scenarios.

The planning process

Step 1: Establish the Goals. Step 2: Developing Strategies & Tactics. Step 3: Determining resources
needed. Step 4: Setting standards.

The purpose of SWOT analysis is to analyze the org’s strengths, weaknesses, opportunities, and Threats.
It can help build on what you do well, address what the company lacks, Minimize risks, Take the
advantage for success, Make a summary analysis of external and internal factors. Idetify key terms for
the management of the organization, Help setting company priorities, Prepare strategic options which
solve the risks and problems, determine the diagnosis of the company, conduct a sales forecast in
agreement, focus on the core of the business and lastly is assess the external or internal environment.

A mission is a brief statement that defines why an organization exists, what it aims to achieve, and who it
serves, providing a guiding purpose for its actions and decisions.

A vision is a concise statement describing an organization's long-term goals and the inspiring future it
envisions.

Goals are specific, measurable, and time-bound objectives an individual or organization sets to achieve
within a defined period. They provide clear targets for performance and progress, helping guide efforts
toward desired outcomes.

Strategies are detailed plans or approaches devised to achieve specific goals or objectives. They outline
the methods, actions, and resources required to reach desired outcomes and provide a roadmap for
decision-making and execution.

Objectives are specific, quantifiable targets that support an organization's goals. They are the
measurable steps or milestones that help track progress toward achieving broader aims. Objectives are
typically time-bound and provide clarity on what needs to be accomplished to realize a goal.
Mission: A brief statement that defines an organization's purpose, goals, and target audience, guiding its
actions and decisions.

Vision: A concise statement describing an organization's inspiring, long-term goals and its envisioned
future.

Goals: Specific, measurable, and time-bound objectives set by individuals or organizations to guide
efforts toward desired outcomes.

Strategies: Detailed plans or approaches designed to achieve specific goals, outlining the methods,
actions, and resources needed.

Objectives: Specific, measurable targets that support an organization's goals, tracking progress toward
broader aims and typically set within a defined timeframe.

Functional area plans are detailed strategies created within specific departments or functions of an
organization to achieve their objectives while aligning with overall organizational goals. It involves,
marketing plan, production plan, financial plan, human resource plan.

Plans with a time horizon refer to strategies or actions designed to be executed within a specific
timeframe, which can vary from short-term to long-term, to achieve defined objectives. It involves, short
range plan, long range plan.

Plans with varied frequency are strategies revisited at different times, from daily to annually, depending
on their purpose and relevance. It involves, Standing plan where it has a sub part of Policies, Procedures,
Rules. And the other one is Single-use Plan which has the Budget, Program, and Project.

"Functional area plans, such as marketing, production, finance, and human resources, are detailed
strategies within specific departments that align with overall organizational goals.

Plans with a time horizon encompass short-term and long-term strategies designed to achieve defined
objectives.

Plans with varied frequency include standing plans (Policies, Procedures, Rules) and single-use plans
(Budget, Program, Project), revisited at different times based on their purpose."
a. Jury of Executive opinion forecasting involves seeking input and judgments from experts across various
departments such as sales, finance, purchasing, administration, or production. This method allows for a
quick and comprehensive forecasting process by considering multiple perspectives within an
organization. Some companies may complement executive opinion forecasting with quantitative
methods to enhance the accuracy of their forecasts.

b. The Delphi method is an approach that involves soliciting the opinions of a panel of experts
individually and anonymously, often through surveys or questionnaires. This method aims to gather
diverse expert insights while minimizing group bias. After analyzing the initial responses, follow-up
questions may be asked in an iterative process to reach a consensus or a clear understanding of a specific
topic, which can be valuable for making informed business predictions or decisions.

c. Sales force composite entails gathering insights from sales staff who have direct interactions with
customers, making them well-informed about customer satisfaction and experiences. This method
leverages the expertise of employees closely involved in day-to-day business operations, ensuring
accuracy and relevance of the information. Additionally, it is a straightforward process, involving
meetings with salespeople to collect valuable insights.

d. user's expectation

e. choice of method