Assignment 2: Explain the planning process of a company and then compare its processwith planning process in theory môn Principles of Management | Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh

Assignment 2: Explain
the planning process of a company and then compare its process
with planning process in theory.
For any company to operate smoothly, it is undeniable that plans are made in advance of any
events or activities. The possibility of a plan to be successful depends on the planning process.
In this essay, I would like to briefly analyze the planning process of Big Hit Labels – an
entertainment company of Korea - for its boy group BTS to debut strongly, and compare it with that in theory.
Theoretically, the planning process consists of five steps. First and foremost, in order to plan,
the schemers need to define their objectives. In other words, setting particular and detailed goals
help to set the foundation for a plan. Big Hit Labels, in 2013 (the year that BTS debuted), aimed
for the most attention BTS could get. Secondly, planners need to “determine where they stand
vis-à-vis objectives”, which also means to understand their position in reaching the goals, as
well as their strengths and weaknesses. Since at that time, Big Hit Labels was a powerless
company, the agency tried to cram BTS’ debut stage into a sudden vacant position on the
broadcasting list that day. As a replacement, BTS still gave their best and successfully gained
public concerns. Big Hit bears in mind that the strengths of BTS were their ability of producing
music, their hilarity and their sincerity; along with their weaknesses of being inexperienced and
being too young to deal with social attacks. That was the reason why Big Hit created for BTS
their own Youtube channel where they get to upload videos with content about the members
producing music, members playing with each other like brothers, dance practice videos. Thanks
to these videos, the fans get to know more about BTS off the stage, and are easily to have good
feelings with the boys. In addition, Big Hit sent BTS to America, the dream land for any artists,
to show off their music and their moves on stage, with all tickets handed out by the members
themselves and all for free. They did get the love and support strongly from new fans. Those
were all how Big Hit does the next three steps: “develop premises regarding future conditions”,
“analyze alternatives and make a plan” and “implement the plan and evaluate the results”. Big
Hit develop their premises that in the future, these new fans are going to be loyal fans that
create a strong fan base in the US for BTS, since Americans love stories of the underdogs, and
BTS is exactly an “underdog”. They realize that Korea may be not the only market for BTS to
thrive, so they combine both Korea and America for BTS to show themselves. With the success
of the first free stage in USA, Big Hit knew that BTS can exploit more from this country with
their talents, so the company never ceased to push the boys in America. However, they also
learned the lessons of previous Korean groups, pushing themselves in foreign countries but
forgetting their home one, leading to failures in Korea. That explains why Big Hit always
invested in any BTS’ stages, even the smallest ones, no matter in America or Korea, with the most they have got.