Planning- An Overview

Summary

In this tale, a princess, betrayed by a wicked visor who usurps her throne, seeks refuge in the jungle and encounters a hermit. The hermit, an ex-student of Harvard Business School, imparts the wisdom of planning, emphasizing its importance in achieving goals. Through his guidance, the princess learns the principles of strategic planning, which she applies to regain her kingdom. The story illustrates the power of planning in overcoming adversity and achieving success, with the princess eventually ruling wisely and the hermit becoming her prime minister.

Takeaways

• 👑 The story revolves around a princess who, after her father's murder, seeks to reclaim her kingdom with the help of a hermit.
• 🌳 The hermit emphasizes the importance of planning as a foundational management function, crucial for achieving goals.
• 📈 Planning is described as a process for accomplishing purpose, acting as a blueprint for business growth and a roadmap for development.
• 🔍 Planning helps in setting objectives, making it easier to bridge the gap between current reality and desired future states.
• 🚦 A good plan should be realistic, with a clear view of expectations, and can be long-range, intermediate, or short-range.
• 🛣️ The planning process involves choosing a destination, evaluating alternative routes, and deciding on the specific course of action.
• 🏗️ Planning serves critical functions such as clarifying focus, providing a framework for business strategies, and offering a benchmark for performance measurement.
• 🔄 Planning is a dynamic and continuous process, flexible to adapt to changing conditions and future-oriented.
• 💡 The benefits of planning include reducing uncertainty, guiding decision-making, achieving coordination, and enhancing efficiency.
• 🚫 Limitations of planning include the inability to eliminate all risks, the potential for rigidity, and high costs associated with the planning process.
• 🏆 The story concludes with the princess successfully reclaiming her kingdom, highlighting the practical application of management principles in real-life scenarios.

Q & A

What was the situation the princess faced upon her return from abroad?

Upon her return, the princess discovered that the wicked visor had killed her father and declared himself King.

Where did the princess go after the shocking discovery about her father's death?

The shocked princess fled to the jungle to escape the wicked visor.

How did the princess end up in the hermit's hut?

The starving princess found a small hut in the forest and fainted at its door. When she awoke, she was inside the hermit's hut.

What did the hermit propose to the princess to help her regain her kingdom?

The hermit proposed to help the princess by formulating a plan and began her training in planning.

What is the definition of planning according to the script?

Planning is defined as a process for accomplishing a purpose, a blueprint of business growth, and a roadmap for development.

What are the three steps to summarize planning as mentioned in the script?

The three steps to summarize planning are: choosing a destination, evaluating alternative routes, and deciding the specific course of action for the plan.

Why is it important to have a plan according to the script?

Having a plan is important because it helps management to clarify focus, provides a logical framework for business development, and offers a benchmark for measuring performance.

What are the features of planning as described in the script?

Planning is a process, future-oriented, undertaken at all levels of the organization, flexible, pervasive, continuous, and goal-directed.

What are the limitations of planning as discussed in the script?

The limitations of planning include the inability to eliminate risk, dependency on authentic information, time and money consumption, potential rigidity, and the challenge of adapting to a dynamic environment.

What are the essentials of a good plan as outlined in the script?

A good plan should be continuous, creative, communicated, time-bound, flexible, and have an inbuilt controlling system.

How did the princess ultimately dethrone the wicked visor?

The princess, with the help of her loyal subjects and the hermit's guidance, dethroned and imprisoned the wicked visor, and ruled her kingdom wisely.

Outlines

00:00

👑 The Princess's Exile and Quest for Restoration

The video script begins with a tale of a princess who is deeply loved by her father, the king. He sends her abroad for education, but upon her return, she finds her father murdered by a wicked visor who has usurped the throne. Overwhelmed by the tragedy, the princess flees to the jungle and collapses at the door of a hermit's hut. She is taken in by the hermit, to whom she narrates her plight. The hermit, moved by her story, pledges to help her reclaim her kingdom. This sets the stage for the princess's journey, which is marked by the hermit's introduction to the concept of planning as a critical tool for achieving her goals. The hermit explains that planning is a process for accomplishing objectives, a blueprint for growth, and a roadmap for development. It helps in setting clear objectives and bridging the gap between current reality and desired future states. The princess is taught that a plan should be realistic, considering the activities that will be undertaken to achieve the desired outcomes.

05:04

📈 The Fundamentals and Benefits of Planning

The second paragraph delves deeper into the importance and benefits of planning. It emphasizes that planning is a continuous process that is future-oriented and flexible, adapting to dynamic conditions. Planning is described as a pervasive and continuous managerial function that involves complex processes of perception, analysis, thought, communication, and action. It is goal-directed, and a manager cannot plan without clear objectives. The paragraph outlines the benefits of planning, such as reducing uncertainty and risk, guiding decision-making, achieving coordination, facilitating control, and enabling organizations to cope with changing environments. However, it also acknowledges the limitations of planning, such as the inability to eliminate risk entirely, the time and cost involved, and the potential for rigidity in a dynamic environment. The hermit, revealing himself as an ex-student of Harvard Business School, assures the princess that management principles can be applied to real-life situations to achieve success, suggesting that with a well-crafted plan, she can win back her kingdom.

10:05

🏆 The Triumph of Planning: Princess's Restoration and Prosperity

The final paragraph concludes the story with the princess applying the principles of planning to her quest. With the hermit's guidance, she formulates a strategy to regain her kingdom, leveraging the loyalty of her subjects. The wicked visor is dethroned and imprisoned, and the princess assumes her rightful place as ruler. The hermit, now her Prime Minister, and the Harvard-educated ex-student continue to use their management skills to guide the princess in leading her kingdom towards peace and prosperity. The paragraph reinforces the message that planning is essential in all aspects of life, from business to personal endeavors, and that success is achieved through careful planning and execution. It ends on an inspirational note, reminding the viewer that to be a winner, one must plan to win.

Keywords

💡Planning

Planning is a process for accomplishing a purpose and is likened to a blueprint for business growth and a roadmap for development. In the video, planning is crucial for the princess to regain her kingdom, as it helps in deciding objectives and bridging the gap between the current situation and the desired outcome. The hermit teaches the princess that planning involves choosing a destination, evaluating alternative routes, and deciding on the specific course of action.

💡Objectives

Objectives are the end goals or targets that an individual or organization aims to achieve. In the script, the princess's objective is to reclaim her kingdom from the wicked visier. Planning helps in defining these objectives both in quantitative and qualitative terms, which is essential for the princess to focus her efforts and measure her progress.

💡Strategy

A strategy is a high-level plan to achieve one or more objectives. The video emphasizes the importance of having a strategy in place, as it provides a logical framework for the princess to develop and pursue her plans over the coming years. The hermit's guidance to the princess on formulating a strategy is a key part of her journey to regain her kingdom.

💡Coordination

Coordination refers to the organization of the efforts of different departments or individuals to achieve a common goal. In the context of the video, coordination is highlighted as a benefit of planning, as it helps the princess to align the efforts of her loyal subjects and other potential allies in the quest to dethrone the visier.

💡Control

Control in the video is mentioned as a function of planning that allows for measuring and reviewing actual performance against predetermined goals. It is crucial for the princess to have a system of control to ensure that her plans are being executed effectively and to make adjustments as necessary.

💡Risk

Risk is the potential for loss or failure associated with a particular action or decision. The video acknowledges that planning can minimize but not eliminate risk. For the princess, understanding and managing the risks involved in her quest to reclaim her kingdom is a critical part of her planning process.

💡Flexibility

Flexibility in planning allows for adaptation to changing circumstances. The hermit emphasizes the need for flexibility, suggesting that plans must be adjusted according to dynamic conditions. This concept is vital for the princess as she navigates the unpredictable challenges in her path to reclaiming her kingdom.

💡Management

Management is the process of organizing, directing, and controlling resources to achieve organizational goals. The video uses the hermit, who is an ex-student of Harvard Business School, as a management guru figure who imparts his knowledge to the princess, illustrating the application of management principles in achieving the princess's goal.

💡Benchmark

A benchmark is a standard or point of reference against which performance can be measured or assessed. In the script, planning offers a benchmark against which the princess can measure her progress and the effectiveness of her actions in her quest to regain her kingdom.

💡Enterprise

Enterprise refers to an organization engaged in commercial, industrial, or professional activities. The video script mentions the enterprise in the context of planning being important for businesses, and by extension, the princess's kingdom can be seen as an enterprise that requires strategic planning for success.

💡Efficiency

Efficiency is the ability to achieve goals without wasting resources. The video script suggests that planning leads to economy and efficiency in operations. For the princess, efficient use of her resources is critical in her efforts to overthrow the visier and rule her kingdom wisely.

Highlights

The story begins with a princess whose father is killed by a wicked visor, prompting her to flee to the jungle.

The princess finds refuge in a hermit's hut and shares her tragic story with him.

The hermit offers to help the princess regain her kingdom by teaching her the importance of planning.

Planning is defined as a process for accomplishing a purpose and a blueprint for business growth.

Coons and O'Donnell's view on planning as deciding in advance what to do, how to do it, and who is to do it.

Planning bridges the gap between current reality and desired future outcomes.

A plan should be realistic, with objectives defined in both quantitative and qualitative terms.

Plans can be long-range, intermediate-range, or short-range, depending on the timeframe and scope.

The importance of a plan in securing external support and its role as a key to growth.

Planning can be summarized in three steps: choosing a destination, evaluating routes, and deciding on a specific course of action.

The critical functions of planning include clarifying focus, providing a framework for strategy, and offering a benchmark for performance measurement.

Planning is a continuous and flexible process that is future-oriented and adaptable to changing conditions.

Planning is a pervasive and continuous managerial function involving complex processes of perception, analysis, and decision-making.

Planning is goal-directed, and a manager cannot plan without knowing what they want to achieve.

Planning involves making choices among multiple goals and alternatives to achieve them.

The importance of planning is emphasized through quotes from ancient wisdom and Napoleon Hill.

The benefits of planning include reducing uncertainty, guiding decision-making, achieving coordination, and coping with change.

Limitations of planning include the inability to eliminate risk, the dependency on authentic information, and the potential for rigidity.

Essentials of a good plan include continuity, creativity, time-bound objectives, flexibility, and coordination.

Planning is necessary in all walks of life, including business, architecture, events, and personal life.

The hermit, an ex-student of Harvard Business School, uses management principles to guide the princess in her quest to regain her kingdom.

The princess applies the knowledge of planning to successfully dethrone the wicked visor and rule her kingdom wisely.

Transcripts

[Music]

planning and

[Music]

overview once upon a time there lived a

princess who was the apple of her

father's eye her father loved her dearly

and sent her abroad to complete her

education however when the princess came

back she was in for a shock

the wicked viser had killed her father

and declared himself King the shocked

princess fled to the

Jungle after wandering around in a day

state for more than a week the starving

princess Came Upon a small Hut She

fainted at the door when she awoke she

found herself in a hermit's hut she

narrated her story to the

hermit daughter you have suffered

Grievous L what do you propose to do sir

I'm helpless please help me regain my

kingdom arise daughter I will help you

we need to formulate a plan

plans yes don't you want to punish the

vizer and get back your kingdom thus

began the princess's training on the

first day The Hermit asked her some

questions where are we

presently in the

forest where do you want to

be in my kingdom ruling over it how do

you plan to get over there the princess

was silent The Hermit smiled this is

where you will learn about

[Music]

planning what is a

plan planning is a process for

accomplishing purpose it is a blueprint

of business growth and a road map for

development it helps in deciding

objectives both in quantitative and

qualitative

terms according to Coons and odonnell

planning is deciding in advance what to

do how to do and who is to do it

planning Bridges the gap between where

we are to where we want to go it makes

possible things to occur which would not

wise

occur what should a plan be a plan

should be a realistic view of the

expectations depending upon the

activities a plan can be long range

intermediate range or short range it is

the framework within which it must

operate for management seeking external

support the plan is the most important

document and key to

growth preparation of a comprehensive

plan will not guarantee success but lack

of a sound plan will almost certainly

ensure

[Music]

failure planning can be summarized in

three easy

steps one choosing a

destination two evaluating alternative

routes and three deciding the specific

cause of your plan

why is it important to have a plan it is

important to prepare a plan keeping in

view the necessities of the

Enterprise a plan is an important aspect

of

business it serves the following three

critical

functions planning helps management to

clarify focus and research their

businesses or projects development and

Prospects

planning provides a logical framework

within which a business can develop and

pursue business strategies over the next

3 to 5 years planning offers a benchmark

against which actual performance can be

measured and

[Music]

reviewed features of

planning planning is a process rather

than Behavior at a given point of time

planning is future

oriented planning is undertaken at all

levels of the

[Music]

organization planning is flexible as

commitment is based on future conditions

which are always

Dynamic hence plans have to be changed

in accordance with the changed

conditions planning is a pervasive and

continuous managerial function involving

complex processes of perception analysis

conceptual thought communication

decision and

action planning is always goal directed

a manager cannot plan anything unless he

knows what he wants to

[Music]

achieve planning is the primary function

of management as every activity needs to

be planned before it is actually per

formed in other words planning proceeds

all other managerial functions and

provides the very basis for organizing

Staffing directing and

controlling planning basically involves

making choices need for planning arises

when goals or objectives are many and

alternatives to achieve them are also

plenty while planning alternatives are

evaluated and a choice is is made

regarding which course of action is to

be

followed for instance princes you have

the choice to either capture your

kingdom or live in Exile since you have

decided to capture your kingdom you can

decide from amongst various Alternatives

how to go about it Choice one you can

claim the help of other kings who are

your

sympathizers Choice two your earthw

subjects can help you choice three you

can petition the UN or other NOS to help

you sir why is planning so important the

Ancients have always said the journey of

1,000 miles begins with one step

Napoleon Hill has said create a definite

plan for carrying out your desire and

begin at once whether you are ready or

not to put this plan into

action this very simple quote

encapsulates the importance of planning

planning is the Cornerstone of the

management function planning helps in

Bridging the Gap between the present and

future CA of

action princes now I will narrate to the

importance of the benefits of

planning importance and benefits

benefits of

planning let us have a quick look at the

benefits of

planning planning reduces uncertainty

risk and confusion in

operation planning guides the decision

making by the

managers planning helps in achieving

coordination and facilitates

control planning with an element of

flexibility makes the organization

capable of coping with the changing

enironment and facing

challenges planning leads to economy and

efficiency in

operations planning begins with the

determination of

objectives limitations of planning

planning can minimize the risk but

cannot eliminate the

risk the success of planning depends to

a great deal on authenticity of

information and external and internal

variables over which the planner has no

control planning is the big process so

it is very time consuming and money

consuming planning leads to

rigidity following a pre-decided plan

when circumstances have changed may not

turn out to be in the organization's

interest planning may not work in a

dynamic environment environment the

organization has to constantly adapt

itself to changes planning cannot forese

everything and thus there may be

obstacles to effective

planning planning reduces

creativity planning involves huge

costs planning does not guarantee

success the success of an Enterprise is

Possible only when plans are prop y

drawn up and

implemented any plan needs to be

translated into action or it becomes

meaningless Essentials of a good plan

the planning process must be continuous

and creative and communicated to the

lowest possible level planning should be

time bound and exist at all levels in

the

organization planning should not be

rigid and should coordinate the efforts

of the

Departments planning must have an

inbuilt controlling

system people are the essence of

planning this Factor should be kept in

mind while framing

[Music]

plans types of

planning planning is necessary in all

walks of life to name a few

architectural

planning business planning

comprehensive

planning event planning and

production Family Planning financial

planning life

planning marketing

plan strategic

planning remember you were born to win

but to be a winner you must plan to win

prepare to win and expect to win

sir you sound like a management Guru

actually I am an ex- student of Harvard

Business

School oh sir will this management

principal help me win back my

kingdom why not management principles

are meant to be applied in real life a

plan is a blueprint of how you execute

your dream in real life plans are

nothing planning is everything

armed with this knowledge the princess

made her plans her subjects were loyal

to her and ultimately she dethroned and

imprisoned the Wicked vizer the princess

ruled over her kingdom wisely and well

and what about the hermit well he became

her Prim Minister and the ex- student of

Harvard used his management skills to

guide the prince princess as she led her

subjects to peace and

[Music]

prosperity