GMS 200 Chapter Notes -Stretch Factor, Participatory Planning, Strategic Management

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Bamidele Adekunle

Document Summary

Planning is part of the management process; it is the process of setting objectives and determining how to accomplish them. The planning process: define your objectives identify desired outcomes or results in very specific ways. Know where you stand in reaching the objectives; know what strengths work in your favour and what weaknesses may hold you back: develop premises regarding future conditions anticipate future events. Scenarios for what may happen; identify for each scenario things that may help or hinder progress toward your objectives: analyze alternatives and make a plan list and evaluate possible actions. Choose the alternative most likely to accomplish your objectives; describe what must be done to follow the best course of action. Implement the plan and evaluate results take action and carefully measure your progress toward objectives. Follow through by doing what the plan requires; evaluate results, take corrective action, and revise plans as needed.