GMS 200 Lecture 5: Chapter-6

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

Document Summary

Chapter 6 - lecture 6 - 20. 02. 15 what are the useful planning tools and technique? forecasting - is the process of making assumptions about what will happen in the future. Planning: planning is the process of setting objectives and determining how to best accomplish them, planning sets the stage of organizing, leading, and controlling by providing direction. Five steps: define your objectives identify desired outcomes or results in very specific ways, determining where you stand vis- -vis objectives, develop premises regarding future conditions, analyze alternatives and make a plan. What types of plans do managers use: strategic plans, broad, comprehensive. Forecasting the process of making assumptions about what will happen in the future. Changes in the environment will eventually occur. Crises and emergencies may occur: benchmarking, external and internal comparisons, best practices lead to superior performance, staff planners, coordinate the planning function the organization or a component.