Submitted by: Submitted by Ansonys
Views: 153
Words: 459
Pages: 2
Category: Business and Industry
Date Submitted: 02/19/2013 12:33 AM
Formal planning is a process where organization individuals will gather, having discussion to set objectives, plan strategies and being documented to make it available for individuals to know about it.
With a proper planning process, set time lines and allocation to the managers, it allows everyone to know what they are supposed to do and when they have to get it done to achieve the organizational objectives. And by having time lines, it provides a measurable tool for managers to check whether they are going smoothly.
Right now, the Regeneration Medic is facing a high level of uncertainty and anxiety as the employees do not understand where the organisation is heading especially in a turbulent environment. Through formal planning, it provides a clear direction through setting the objectives. With a clear direction, it create motivation in the employees to accomplish the work commitment they are assigned. With a good formal planning, it allows the individual to forecast the future and plan out strategy to tackle and this will eventually boost up the confident of the organization as they are prepared for the future. Thus, it reduces the impact of changes especially in the turbulent environment where changes are common. Lastly, with the objectives set up, managers can use the performance to match up with the objectives so corrections can carry out to improve. With the aid of formal planning, it can dissolve the high level of uncertainty and anxiety in the employee and increases the performance level and efficiency of the organization.
The balanced scorecard is a model that uses the organization’s vision and input various targets and actions to achieve it. According to Balanced Scorecard Institute (2012), “It provides a framework that not only provides performance measurements, but helps planners identify what should be done and measured. It enables executives to truly execute their strategies.” And the various aspects are Customers, Financial, Internal...