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gms200 chapter 7 lecture.docx

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Ryerson University
Global Management Studies
GMS 200
Shavin Malhotra

Chapter 7 Lecture FYI2- Quiz opens up at 2 and Sunday 2pm close 12q on 10mins - Based on Powerpoint Strategy involves planning Planning involves situational analysis In situational analysis, a manager identifies planning assumptions, issues and problems Step 1. Situational Analysis Strategy, Manage, Plan, Think Three levels of planning; Strategic (policy), tactical (procedure) and operation (execution) Strategic planning is defined as the process of addressing the following questions: Where are we? What do we have to work with? Where do we want to be? How do we get there? Tactical planning: identifying specific procedures and processes required at lower levels of organization Typical tactics planning would involve: profit levels, share value, growth, return on investment, societal impact Operational Planning: - Specific goals - Actions and time required to achieve goals - Human resources required - Physical resources required - Budget required Ex Grow Operation; OPP raid 42 houses in Ontario, arrested quite number of people. Goal: Arrest 42 people Action: Allocation of officers, HR required: Police, Detectives, Ambulance, Fire Department, SWAT Physical resources: hand cuffs, warrant, dogs, tasers, baton, vehicles, coffee Budget: limited budget Goals: The targets or ends the manager wants to reach are called goals A backup plan, in case the original plan does not work out is called a Contingency Plan (ba
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