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Lecture 6

MGMT 309 Lecture Notes - Lecture 6: Goal Setting, Decision-Making, Contingency Plan


Department
Management
Course Code
MGMT 309
Professor
Bradley Wesner
Lecture
6

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Decision Making and the Planning Process
Decision making
Cornerstone of planning
The catalyst that drives the planning process
Underlies the formulation and implementation of all plans
Planning
Occurs within an environmental context
All begins with the mission of the organization
Purpose
Premises
Values
Directions
We start these plans after knowing in what direction
we're going in
If our mission statement is specific and measurable, we
can then formulate plans to achieve those goals
Goals serve four important purposes:
They provide guidance and a unified direction
This can actually help employees be more
motivated and work harder
Goal setting affects other aspects of planning
Effective goal setting promotes good
planning
Good planning facilitates future goal setting
Specific and moderately difficult goals can
motivate employees
Goals provide an effective mechanism for
evaluation and control
Gives means to monitor and intervene if
necessary
Kinds of Goals - Level
Goals are set for and by different levels

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Mission statement: states an organization's
fundamental purpose
Changes over time as organization
evolves
Strategic goals: set by/for top management
Broad, general goals
Tactical goals: set by/for middle managers
Focus on actions necessary to achieve
strategic goals
Plan is aimed at achieving tactical
goals, developed to implement specific
strategic goals
The battle plan used in war
Developing plans
Recognize and understand
overarching strategic plans and
tactical goals
Specify relevant resource and
time issues
Recognize and identify human
resource commitments
Executing plans
Evaluate each course of action in
light of its goal
Obtain and distribute information
and resources
Monitor horizontal and vertical
communication and integration of
activities
Monitor ongoing activities for
goal achievement
Operational goal: set by/for lower level
Focus on short term issues associated
with tactical goals
Area and time frames
Area
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