QMS 202 Lecture Notes - Lecture 6: Crisis Management

• School: Ryerson University
• Department: Quantitative Methods
• Course: QMS 202
• Professor: Masoomeh Moharrer

Document Summary

Planning: the process of setting objectives and determining how to best accomplish them. Identifiyign the specific results or desired outcomes that one intends to achieve. It"s a goal (target or end that management desires to reach) , and you can tell if you are in the expected target or not: for attracting investors, environment is uncertain, planning reduces crisis management, attracting investors. If you consult with stakeholders they are responsible and they will help a project to try and make it the most successful. Avoids competency trap ( the false belief that the same practice that led to a past success, it will. Improves time management necessary lead to a future one) Guidelines for taking action in specific circumstances. Plans that describe exactly what actions are to be taken in specific situations. Single-use plans that commit resources to activities, projects, or programs. Because of lost opportunity in between because we can"t make any new decision until.