GMS 200 Lecture Notes - Lecture 5: Scenario Planning, Goal Setting, Participatory Planning

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Kenneth Kalu

Document Summary

Planning is the process of setting objectives and determining how best to accomplish them. Objectives: the specific results or desired outcome that one intends to achieve. Plan: a statement of objectives and action steps to be taken in order to accomplish the objectives. Planning sets the stage for organizing, leading, and controlling by providing direction. When planning is done well, it creates a good platform for other management functions to be successful. The planning process: define your objectives - identify desired outcomes or results in very specific terms. Know where you stand in reaching the objectives. What strengths work in your favour and what weaknesses may hold you back: develop premises regarding future conditions - forecast different states of events, and generate alternative scenarios". Identify for each scenario things that may help or hinder progress towards your objectives: analyze alternatives - list and evaluate the possible actions based on different scenarios. Choose the alternative most likely to accomplish your objectives.