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Lecture

Chapter 6.docx


Department
Global Management Studies
Course Code
GMS 200
Professor
Jian Guan

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Chapter 6: Planning Processes and Techniques
GMS 200 Notes
Planning the process of setting objectives and determining how to accomplish them
Objective specific results that one wishes to achieve
Plan a statement of intended means for accomplishing objectives
The Planning Process
1. Define your objectives
2. Determine where you stand/current position
3. Develop premises regarding future conditions (anticipate the future)
4. Analyze alternatives to make a plan
5. Implement plan and evaluate results
Planning improves focus, flexibility, coordination, control.
Complacency trap being carried along by the flow of events
Canadian Elliot Jacques suggested that people vary in their capability to think with different time horizons. He
believed that most people work comfortably with only 3 month time spans, a small group works well within a 1
year span and rarely do people work with a 20 year time frame in mind.
Strategic Plan identifies long term directions for the organization
Vision clarifies the purpose of the organization and expresses what it hopes to be in the future
Tactical Plan helps implement all or parts of a strategic plan
Functional Plans indicate how different operations within the organization will help advance the overall
strategy
Operational Plans identifies short term activities to implement strategic plan
Policy standing plan communicates broad guidelines for decisions and actions
Procedure/rule precisely describes actions that are to be taken in specific situations
Budget a plan that commits resources to projects or activities
Zero based budget allocates resources as if each budget was brand new
Forecasting attempts to predict the future
Contingency planning identifies alternative courses of action to take when things go wrong
Scenario planning identifies alternative future scenarios and make plans to deal with each
Benchmarking uses external and internal comparisons to plan for future improvements
Best practices things people and organizations do that lead to superior performance
SMART GOALS Specific, Measureable, Attainable, Referred to, Timely
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