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GMS - Chapter 6.docx

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Global Management Studies
GMS 200
Sui Sui

GMS200 Chapter 6 Chapter 6 – Planning process and techniques  General Mills south to have 40% of its products meet nutrition standards in 8 months  Study Question 1: How do managers plan? o Planning  The process of setting objectives and determine how to best accomplish them o Objectives  Identify the specific results of desired outcomes that one intends to achieve o Plan  A statement of action steps to be taken in order to accomplish the objectives o Steps in planning process:  Define your objectives.  Determine where you stand vis-a-vis objectives.  Develop premises regarding future conditions.  Analyze and choose among action alternatives.  Implement the plan and evaluate results. o Benefits of planning  Improves focus and flexibility  Improves action orientation  Improves coordination and conntrol  Improves time management  Short range and long range plans o Short-range plans: 1 year or less o Intermediate-range plans: 1 to 2 years o Long-range plans: 3 or more years  People vary in their capability to deal effectively with different time horizons  Higher management levels focus on longer time horizons  Jack Welch , GE and succession planning o In 1994, 7 year before he retired from General Electric Company (GE), Jack Welch had started the succession planning process.  General Electic o GE is an American multinational corporation o Products: Appliances, Aviation etc. GMS200 Chapter 6  Jack Welch o Chairman & CEO of GE between 1981 and 2001 o Introduced 6-sigma quality management program and boundaryless organization structure o During his tenure, the company value rose by 4000% o By 1999 he was named “Manager of the Century” by Fortune magazine  Succession planning of GE o GE has 23 potential candidates in 1994 o In November 2000, GE announced that Jeff Immelt would succeed Jack Welch as the chairman and CEO of the company.  Strategic and Tactical Plans o Strategic plans – set broad, comprehensive, and longer-term action directions for the entire organization. o Tactical plans – define what needs to be done in specific functions to implement strategic plans.  Financial plans  Marketing plans  Human resource plans  Google’s expansion strategy o Google’s strategic plan is to “organize the world’s information and make it universally accessible and useful”, Google needs to expand internationally. o Google’s tactical plans include: to expand its own presence to China, where Google has
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