|
Donato ochan Hakim
CEO, South Sudan
|
What is Prevoyance? Explanation
Prevoyance is the function of management which says one must examine the future and draw a plan. How hard is it to forecast what needs to be done in the future? I need a bit of explanation on this, thanks...
X
Sign up for free
Welcome to the Principles of Management forum of 12manage.
Here we exchange knowledge and experiences in the field of Principles of Management.
❗Sign up now to gain access to 12manage. Completely free.
X
Continue for free
Please sign up and login to continue reading.
Here we exchange knowledge and experiences in the field of Principles of Management.
❗Sign up now to gain access to 12manage. Completely free.
| |
|
|
| |
|
mmuller kcim
Manager, Botswana
|
|
Prevoyance In order to achieve strategic planning, how much forecasting is needed?
If forecasting is ineffective, what is the supposed outcome of planning - risky, detrimental?
What variables are used to determine forecasting and planning in order to achieve operational congruence throughout the managerial cycle?
|
| |
|
pradeep deo
Strategy Consultant, India
|
|
Prevoyance Strategic planning needs studies and understanding of environment in which a business takes place. This includes political environment. Gut feeling is the most important part of strategic planning. Strategic planning for 4~5 years is reasonably sufficient. 3~4 alternatives should be thought of while performing strategic planning. A continuous monitoring of different scenarios will guide to shifting the strategies so that it will not be detrimental to the business. All business elements need to be considered while strategical planning.
|
| |
|
mmuller kcim
Manager, Botswana
|
|
Prevoyance and Forecasting @pradeep deo: Thanks so much for making that clear cut thought of strategic planning! Let's now move to the forecasting perspective! How much of it is needed? Can a manager totally rely on gut feeling to intuitively develop strategies? How much research is needed?
|
| |
|
Vance DeMasseo, United States
|
|
Prevoyance in a Volatile Business Environment If you are in a volatile business such as service and that is the only product, prevoyance can be difficult to apply even for management.
Forecasting in this kind of environment where demand for services can change daily becomes a game of chance in the highest degree. That does not mean management should not try to forecast. It means that management needs to walk very lightly and be very cautious with each manoeuvre. .
|
| |
|
pradeep deo
Strategy Consultant, India
|
|
Prevoyance in Services No business is an indepedent business. Service is no exception, therefore when analysing a service business, first understand the basic business which generates a service business. Understanding the basic business will give a clue about service business and accordingly decide the strategy.
|
| |
|
pradeep deo
Strategy Consultant, India
|
|
Preyoance, Forecasting and Gut Feeling @Mmuller kcim: Stastitistical data, forcasting etc are tools for taking decisions. But ultimately it is gut feeling which plays the final part in taking decisions.
|
| |
|
David Wilson
Manager, Canada
|
|
Future Forecasting Futurology (also called futures studies, ulrike and futurism) is the study of the future based on current predictions and interdisciplinary studies, methods and tools. Please see Future Studies and other links in Wikipedia. If needed, you should review the concepts from the Association of Professional Futurists.
I am not certain I would consider this as strategic planning, but it is certainly related to forecasting.
|
|
Log in
Comments by date▼