Planning and decision making
- Consequences that arise due to poor planning
Poor planning in project management is one of the reasons that translate to project failure (Virine and Trumper, 2019). The results of poor planning include; budgets not clearly set, poor time management, lack of clear project objectives, and dissatisfied customers. A product that failed in the market as a result of poor planning was the Nike fitness band called FuelBand. Despite Nike Company having acquired both MyFitnessPal and MapMyFitness companies, the company registered failure in the product launch (Witt, Kellogg, Snyder and Dunn, 2019). The primary reasons for the negligence attributed to a lack of research on consumer perception of wearable and functionalities it would perform upon introduction. Therefore, with no backup data collected on how best to introduce the wearable into the market, it was difficult for Nike Fitness to have an opportunity to make it in the market.
- Systematic planning for setting goals and making decisions
When launching a product, a company is keen on the number of units of products or service subscriptions that needs to be done for the marketing to be identified as a success (Chimhowu, Hulme and Munro, 2019). Therefore, there is a need to ensure proper planning is conducted for the company to deliver its expected results. Companies that have systematic planning on all their products can attain their goals and objectives, which is considered significant for the companies. Proper decisions are made when plans have been made to fit the overall company goals. For example, Apple is highlighted as one of the brands that are intent on how it released any of its products. There is proper planning done and proper marketing, which translates to a great sale.
- Meaning of “Failing to plan is planning to fail.”
The proverb ‘Failing to plan is planning to fail’ is a common proverb that is used when individuals are getting into the meeting with the intent to close a deal. When there is no proper preparation done regarding a meeting, the possible outcomes expected are not likely to be fruitful. A company that does not have adequate planning and poor research is done on the proposed introduction of products and services results in poor proposed strategies that will possibly yield poor results (Chimhowu, Hulme and Munro, 2019). Also, employees are identified as the best persons who can carry the vision of the company and easily accomplish it when they are given the correct guidance. Therefore, when a proper plan is not made on the employees’ delivery of services to the company, then the company is likely to fail in its delivery of services.
- Type of planning required to establish effective monitoring and controlling the display of products in Supermarkets
Supermarket products need to be displayed in an organized manner. Consumer spending habits are observed when planning on the items to show on the shelves in the supermarkets. For example, sweets and foods that can easily be grabbed are placed at the counter before payment to allow customers to grab last-minute items. The food items are placed right away when consumers enter the supermarket while stationary and heavy products are placed at the back of the supermarkets. Therefore, consumer spending habits in a region allow the supermarkets’ management to effectively monitor the products to be stocked at respective stations and study their progress and sell movements.