GMS 200 Study Guide - Final Guide: Scenario Planning

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

Planning: the process of deciding exactly what one wants to accomplish and how to do it. 5 steps of planning *: defining your objectives, determine where you stand relative to your objectives, develop premises regarding future conditions, analyze alternatives and make a plan, implement the plan and evaluate results. Provide customers what they want, when they want it, and ensure that customers receive. Service rules: sundown rule (get back to the customer the same day) Ten foot rule (ask: may i help you?) Managerial philosophies and principles: respect for the individual, service to customers, striving for excellence. Planning: planning is about providing direction for organization. For walmart: basic beliefs (philosophy and principle) +customer service rules (sundown) To output its rivals, walmart draws on its: Planning is important for both survival and success in a globally competitive business landscape. Planning may take the form of: scenario planning**