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Lecture 2

ADM1300 - week 2 - the planning and leading functions.docx

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Matthew Archibald

September 16 The planning function Primary Type of Managerial Level Examples Planning Strategic Top Management Organizational objectives, fundamental strategies, long-term plans (2-5 years) Tactical Middle Management Quarterly and semi-annual plans, departmental policies & procedures - Within a department Operational supervisory mgmt daily & weekly plans, rules & procedures for each dept - Front-line managers/supervisor contingency primarily top mgmt but ongoing plans for actions and communications in an all levels contribute emergency - What happens if plan A doesn’t work? - what is the backup plan? Figure 7.1 page 1191 Steps in Planning Process Figure 7.2 page 191  define the org's mission / vision o vision: dream for your future. Ie Microsoft would have said “to have a desktop computer in every household in 1980 and now they are adjusting that because it’s been achived. Where you want to be in 10-15-20 year o mission stmt: your reason for being as an organization. What products or services do I do/undertake, who is my customer base, and why am I here? Rooted in the situation of my business be spread across the organization. o You have to get buy in from your employees on what it is that you are and what you want to achieve. o The overall strategy is goal & objective setting. o Sample vision/mission stmt:  Vision: To make ppl happy – walt Disney company  Vision: Create experiences that combine the magic of software with the power of internet services across devices – Microsoft  Mission: to be the world’s leading producers and providers of entertainment and info using our portfolio of brands to differential our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world (Disney)  Mission: help ppl and businesses through the world realize their full potential (Microsoft) – what does “full potential” mean? Everyone’s full potential might mean different things and ppl might have differnet potentials  assess the org's competitive position o how do we look vs the competition o look at swat analysis – understanding our competitive competition vs our competitors. Internal Strenghts & weaknesses, External opportunities and threats  internal strength: customer service, marketing, brand awareness, financial performance,  internal weaknesses: expensive, visionary behind apple passed away, patent issues, management issues  opportunities: new products, create strategic alliances (cheaper produced products)  external threats: they choose to price their products high. When the economy is weak, the global economy can be seen as a threat, competition in the smart phone market, other phones now have the same features as the iphone, even if they originally had a first-mover advantage with their apps and touch screen etc.  set objectives for the org o what are my goals? What am I trying to achieve? o They have to be smart, therefore they have to be specific, measurable, agreed up, realistic & Timely o Ie I want to increase revenue by 5% in the next 12 months  Specif amounts  Measurable (5%)  Timely (2 years)  Agreed up: ppl must agree that these are the right goals so you can get buy in. The employees are the ones making this happen.  Realistic: if you have only been increasing 1% each year, then is 5% realistic?  create strategies for competitive differentiation o Differentiate your product or offering from somebody else. What makes you different? o Ie walmart is different because they have everything and they get it cheap because they are a big corporation. Also they have a strong (questionable) corporate culture o It is important to make sure that you are better than anybody else at something  turn strategy into action o implementation  evaluate results and refine the plan  feedback – (middle of circl o always there o magical thing that you are using to make sure you are on track or update where you are headed mission/ vision
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