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Lecture

4)ManagingDecision-MakingandPlanning.doc

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Department
Administration
Course
ADM1300
Professor
All Professors
Semester
Fall

Description
THE MANAGER AS A PLANNER AND STRATEGISTPlanning identifying and selecting suitable goals and courses of actionStrategy a cluster of decisions about what goals to pursue what actions to take and how to use resources to achieve goalsPlanning as a 3 stepactivity1 Determining the organizations vision mission and goalsVision Statement A board declaration of the big picture of the organization andor a statement of its dreams for the futureDifferent from the organizational directionMission Statement A broad declaration of an organizations overriding purpose that identifies the organizations products and customers and distinguishes the organization from its competitorsMust define business first by asking Who are our customers What customer needs are being satisfied and How are we satisfying customers needsGoal A desired future outcome that an organization strives to achieve2 Formulating a strategyManagers analyze the organizations current situation and then conceive and develop the strategies necessary to attain the organizations mission and goals3 Implementing a strategyManagers decide how to allocate the resources and responsibilities required to implement the chosen strategies among individuals and groups within the organizationWho Plans1 Corporate Level PlanningCorporate Level Plan Top managements decisions relating to the organizations mission overall strategy and structureCorporate Level Strategy A plan that indicates the industries and national markets in which an organization intends to competeUsually the responsibility of top manages lowerlevel managers can be and usually are given the opportunity to become involved in the processCorporatelevel managers are responsible for approving business and functional level plans to ensure that they are consistent with the corporate plans2 DivisionBusiness Level PlanningDivision A business unit that has its own set of managers and functions or departments and competes in a distinct industryBusiness Level Plan Divisional managers decisions relating to divisions longterm goals overall strategy and structureBusiness Level Strategy A plan that indicates how a division intends to compete against its rivals in an industry
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