Lesson 6:
LOVELY D. ESPLANA
MBA-HRM student
PLANNING
PLANNING IS IMPORTANT!
Through
planning,
one can determine
what to do step by
step
in
achieving
success
and
through
careful
planning, on what to
do
and
find
out
necessary
actions
and solutions when
problem arises.
Aside
from
planning,
decesion-making
is
also
rudimentary
element
in
establishing a business. in
every decision that one can
make, this can affect every
one’s job and the company
itself.
Careful
decision
making is a must to avoid
problems later on.
TOOLS AND TECHNIQUES
is any physical item that can
be used to achieve a goal,
especially if the item is not
consumed in the process.
Informally the word is use to
describe
a
procedure
or
process
with
a
specific
purpose.
is a systematic procedure,
formula, or routine by which
a task is accomplished.
DIFFERENT PLANNING TECHNIQUES
Part
1
Forecasting
Part
2
Contingency
Planning
Part
3
Scenario
Planning
Part
4
Benchmarking
Part
5
Participatory
Planning
1
Forecasting
2
is an attempt to
predict what may
happen
in
the
future
5
Participatory
Planning
includes the people
who will be affected by
the plans and those
who will be asked to
implement them in all
plannings
3
4
Benchmarking
Contingency
Planning
factors
may
offer
alternatives courses of
action
when
the
unexpected happen or
when things go wrong
planning technique that
generally
involves
external comparisons
of company’s practices
and technologies with
those
of
other
companies
a long term version of
contingency planning,
Planning for future
states of affairs
Scenario
Planning
DECISION MAKING IN A BUSINESS
According to Eby (2018), decisionmaking process involves identifying a
goal,
getting
the
relevant
and
necessary information, weighing the
alternatives in order to make a decision.
SWOT
Analysis
Pareto
Analysis
Break-even
Cause and
Analysis
Effect
Decision
Matrix
Pugh Matrix
1
DECISION MAKING TOOLS
SWOT ANALYSIS
is a method for identifying and
analyzing internal strengths
and weaknesses and external
opportunities and threats that
shape current and future
operations and help develop
strategic goals.
2
DECISION MAKING TOOLS
PARETO ANALYSIS
lso known as the "80/20 Rule"
– which is the idea that 20
percent of causes generate 80
percent of results. With this
tool, we're trying to find the 20
percent of work that will
generate 80 percent of the
results that doing all of the
work would deliver.
3
DECISION MAKING TOOLS
CAUSE AND EFFECT
a visual tool used to logically
organize possible causes for a
specific problem or effect by
graphically displaying them in
increasing detail, suggesting
causal relationships among
theories. A popular type is also
referred to as a fishbone or
Ishikawa diagram.
4
DECISION MAKING TOOLS
BREAK-EVEN ANALYSIS
helps you to determine at
what stage a new business
product will be profitable. It’s
an economic calculation used
to determine the number of
products or services you need
to sell to cover your costs.
5
DECISION MAKING TOOLS
DECISION MATRIX
is a technique that contains
values that helps you to
identify and analyze the
performance of the system.
The elements of a decision
matrix show results depend on
specific criteria. Is also can be
quantitative decision making
tools.
6
DECISION MAKING TOOLS
PUGH MATRIX
is a diagram that is used to
evaluate alternative solutions
for business. It helps you to
determine which solutions are
more valuable than the others.
This method does not require
a
massive
amount
of
quantitative data.
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Part 4
REFERECES
https://www.slideshare.
net/MaeParcero/tooltechniques-decisionmaking-process
https://www.youtube.com/watc
h?v=MJIbc7emwPg
https://www.youtube.com/watch
?v=cy5OUVtaGh8
https://www.youtube.com/watch?
v=4P5JRbrn5CM
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