ADMS 3930 Chapter Notes - Chapter 4: S.M.A.R.T., Middle Management, Pepsis

• School: York University
• Department: Administrative Studies
• Course: ADMS 3930
• Professor: all

Document Summary

Planning is choosing a goal and developing a method or strategy to achieve that goal. Chapter 4 planning: benefits and pitfalls of panning. Benefits of planning: intensified effort, persistence, direction, and creation of task strategies. Managers and employees put forth greater effort when following a plan. Planning leads to persistence that is working hard for long period. Planning encourages persistence even when there may be little chance of short-term success. Plans encourage managers and employees to direct their persistent efforts toward activities that help accomplish their goals and away from activities that don"t. Plans encourages the development of task strategies. The most compelling benefit of planning is that is has been proven to work for both companies and individuals. Companies with plans have larger profits and grow much faster than companies that don"t. It can impede change and prevent or slow needed adaptation. It can create a false sense of certainty.