GMS 200 Lecture Notes - Lecture 5: Stretch Factor

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

Mid-term after chapter 5 please come on time or else you will not have enough to complete it. Bring pencils for 70 multiple choice questions in 70 min (1hr 10min). Planning is the process of setting objectives and determining how to best accomplish them. Planning sets the stage for organizing, leading, and controlling by providing direction. Five steps in the systematic planning process are as follows: define your objectives identify desired outcomes or results in very specific ways. Know where you stand in reaching the objectives; know what strengths work in your favour and what weaknesses may hold you back: develop premises regarding future conditions anticipate future events. Generate alternative scenarios for what may happen; identify for each scenario things that may help or hinder progress toward your objectives: analyze alternatives and make a plan list and evaluate the possible actions.