MG 210 Lecture 8: Foundations of Planning

• School: Quinnipiac University
• Department: Management
• Course: MG 210
• Professor: Julia M.Fullick- Jagiela

Document Summary

As they flow down, they are tailored to specific needs. Formal planning: define goals ( what ), establish strategies ( how ), integrate/coordinate, specific time period, written and shared with organizational members. Formal planning is associated with: positive financial results, quality of planning/implementation affects performance more than extent of planning, external environment can reduce impact of planning on performance, time frame matters: 4 years of planning. Plans (documents that outline how goals are going to be met). Means-ends chain: higher-level goals (or ends) are linked to lower level goals, which serve as a means for their accomplishment. Focuses on employees working to accomplish goals they"ve had a hand in setting. Well-written goals (smart) (smart): specific, measurable, attainable, relevant, time-bound. Written in terms of outcomes rather than actions. How can managers plan effectively in dynamic environments. In an uncertain environment, managers develop plans that are specific/flexible. Environmental screening (screening info to detect emerging trends).