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Corporate Planning Essay

2180 words - 9 pages

Corporate planning
Corporate planning had its genesis in India sometimes in the sixties when a number of subsidiaries of multinational companies introduced the process in compliance with their parent companies' directives. Since then quite a few companies have introduced formal planning for a variety of reasons. Some introduced it because their top managements felt that it would help them long term objectives; some introduced it because of a fad, not wanting to be behind by others, and some others because were directed to do so. Many public sector enterprises adopted corporate planning because they were to do so by the Bureau of public Enterprises, the governmental body that regulates all ...view middle of the document...

However, this scenario is changing rapidly as a result of increasing liberalization effected by the Government in its policies towards industry. A number of industries are now characterized by a high degree of competition, e.g., textile, television, passenger car, two-wheeler, commercial vehicles, cable, paint etc. It is therefore very likely that strategic planning will be adopted by many firms in the near future.
The Indian Scenario:
            Management education received a big boost in early 60s after the setting up of Indian Institute of Management (IIMs) and the Administrative Staff College of India. IIMs structured their curriculum along the followed in reputed American business schools. The case method of study (as followed in Harvard Business School) was an important pedagogical tool, employed in IIM, Ahmedabad all these years. But in India the Mater of Business Administration program is first introduced by the Andhra University. Successively several university departments, meanwhile, have started the Masters in Business Administration (MBA) programmes at various locations throughout the country. After the opening up of the Indian economy in early 90s, the All India Councial for Technical Education (AICTE) was set up to provide proper direction to the growth of management education. The Business Policy and strategic Management Course has gained wider acceptance as an integrative as an discipline in over 1500 management institutes that have come up in the recent past (1990-2003). A number of doctoral and post doctoral studies have also been undertaken with a view to enrich the knowledge in the area, especially with a clear focus on Indian companies. A professional association called Strategic Management Forum of India has also been formed in 1996- which is exclusively devoted to the development of issues relating to strategic management. A number of publications covering the concepts, techniques and case studies relating to business policy and strategic management have also gone up impressively, especially after 90s, such as Strategic Marketing, Business Standards strategist etc.
            Bharat Heavy Electricals Limited (BHEL) is a highly diversified public sector. Undertaking operating in a number of business sectors: energy, industry, and transportation. Corporate planning at BHEL follows the general pattern in other public sectors enterprises in India. Public   enterprises in the country have emerged as a part of the national planning exercises At the time of the inception of many of the Public Sector Enterprises (PSE 's),detailed feasibility reports with a long term orientation were prepared .However, there were no built –in contingency  plans for tackling uncertainties and discontinuities. When these Public Sectors Enterprises reached a  stage when the original concepts forecasts were no longer applicable as a consequence of environmental changes, they faced enormous problems .Enterprises...

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