GMS 200 Lecture 6: GMS Week 6.docx

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Tsogbadral Galaabaatar

Document Summary

The process of setting objectives and determining how the best accomplish them. Identify the specific results or desired outcomes that one intends to achieve. A statement of action steps to be taken in order to accomplish the objectives. Determine where you stand vis- a vis objectives. Short range plans= 1 year or less. Long range plans= 3 or more years. People vary in capability to deal effectively with different time horizons. Higher management levels focus on longer time horizons. Strategic plans: set broad, comprehensive and longer term action direction for the entire organization. Operational plans: define what needs to be done in specific areas to implement strategic plans. Policies and procedures that are designed for repeated use. Broad guidelines for making decisions and taking action in. Only used once to meet needs and objectives of well defined situationos in a timely manner. Single use plans that commit resource to activities, projects, or programs.