Factors behind pran-rfl's success

The company hasn’t reached this position without a great management function. Planning: One of the most common sets of activities in the management is planning. It is a preparatory step. It is a systematic activity which determines when, how and who is going to perform a specific job. It involves defining the organization’s goals ,establishing strategies for achieving those goals and developing plans to integrate and coordinate activities Planning is a detailed program regarding future courses of action. It is rightly said “Well plan is half done”. Therefore planning takes into consideration available & prospective human and physical resources of the organization so as to get effective co-ordination, contribution & perfect adjustment. It is the basic management function which includes formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources. There is no mystery about how PRAN reached it today’s position. All it took was great planning involved turning ideas into actua1ities by a series of logical steps. PRAN followed some general and logical steps and they are:

By defining the major objective. The major objective is the total job, the final result. There can be only one major objective, and this must be clearly visualized before any planning can be attempted. The major objective for PRAN is to remain as the market leader with consumer items in food & beverage sector in the country & to be the market leader in same sector in abroad with minimum NP level of 10%. They thoroughly communicate this to the entire organization. 

When forecast are available and premises are established, a number of alternative course of actions have to be considered. For this purpose, each and every alternative will be evaluated by weighing its pros and cons in the light of resources available and requirements of the organization. The merits, demerits as well as the consequences of each alternative must be examined before the choice is being made. After objective and scientific evaluation, the best alternative is chosen. Managers of PRAN always surf the market to avoid vacuum in Market in aspect of existing product availability & in aspect of new product. The planners take help of various quantitative techniques to judge the stability of an alternative.

By formulating short term plans People fail because they try to achieve major objectives in one swoop. The task should be broken down into contributory minor objectives, each clearly defined and each capable of detailed planning. These plans include policies, procedures, rules, programmes, budgets, schedules, etc. As PRAN main objective is to remain the market leader, short term plans will include sales maximization, production maximization, and cost minimization. The company’s short term objective is to avail the target that been set before the year starts. These targets are also a part of the long term objective as well. Derivative plans indicate time schedule and sequence of accomplishing various tasks.

By involving more organizational member. Organization should involve more members in the planning process. This doesn’t mean plans are handed down from one level to the next but instead are developed by organizational members at various level. PRAN uses this strategy very well, they help their employee grow. They give them proper training and development and encourage employees to ask questions and make suggestions that they think better.

By working out detailed plans for minor objectives and allowing flexibility. With the overall plan broken down and correctly phased, it becomes possible to work out details for the accomplishment of each minor objective. At this stage the decisions which PRAN make are: What is to be done? How is it to be done - resources, methods and means? Who is going to do the job? When is the job to be done - starting and finishing times Where is the job to be done? All the facts may not be known when plans are first made. Later on, new data may become available.

For this reason, minor plans of PRAN are flexible enough to cater for unforeseen events or emergencies. Having considered the steps involved in planning PRAN turn their attention to the way in which they should be applied. In PRAN planning is applied downward, with the active co-operation of subordinate staff all down the line. It follows that every level understand the planning approach outlined and is able to allocate priorities and work out precise details. Only in this way PRAN break down a really major objective into the mass of detailed activities which become necessary for its accomplishment. In the end, a proper job of planning by the entire supervisory staff of PRAN ensure unified and successful action. PRAN is very effective in doing so as they treat their employees as core resources and family member and encourage their participation indecision making and in implementing plans those are formed by the top level management thus they implement their plans easily and efficiently with the help of subordinates and staffs. After the plans are implemented monitoring the plans are equally important to ensure that objectives are achieved. It is also important to appraise its effectiveness. PRAN does this on the basis of feedback or information received from departments or persons concerned. This enables the management to correct deviations or modify the plan. This step establishes a link between planning and controlling function. The follow up go side by side the implementation of plans in the light of observations made, and thus help PRAN to make more realistic future plans. 

In PRAN managers frequently check all the works that are to be maintained and take any corrective actions that are needed. PRAN is one amongst the fewest in Bangladesh who has a culture of profit sharing management as an appraisal for performing the jobs correctly.