Models in Planning and Decision Making

Planning is the blueprint of a business, how it grows, how it implements various actions required for growth.
•Planning helps the management to clarify, focus and research their business developments and prospects.
•Different perspectives of planning include level, importance, formality, approach and period.
•Steps involved in Planning include Being aware of opportunities, Establishing objectives, Developing premises, Determining alternative courses, Evaluating alternative courses, Selecting a course, Formulating Plans and Qualifying by budgeting.
•The models for planning and decision making include TOWS matrix, BCG matrix, Porter’s five forces model and Blue Ocean concept.