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ADM1300 Final.docx

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Matthew Archibald

ADM 1300 FINAL NOTES MANAGER AS PLANNER AND STRATEGISTPlanning identifying and selecting suitable goals and courses of action Strategy cluster of decisions what goals to pursue actions to take and how to use resources to achieve goals PLANNING3 STEP PLANNING o Determine organizations vision mission and goalsVision statement broad declaration of big picture of organization statement of its dreams for the futureMission statement organizations purpose that identifies products and customers Distinguishes from competitorsAsks Who are the customers What needs are being satisfied how are we satisfying customers needsGoal desired future outcome that an organization strives to achieve o Formulate a strategyAnalyze organizations current situation conceive and develop strategies necessary to attain its missions and goals o Implement a strategyManagers decide how to allocate resources and responsibilities required to implement the chosen strategies among the individuals and groups in the firmWHO PLANS o Corporate Level PlanningCorporate level plan top mgmts decisions in relation to firms mission strategy and structure Corporate level strategy indicates the industries and national markets the firm is to compete in o DivisionBusiness Level Planning Division business unit has separate managers and departmentsfunctions to compete in a distinct industryBusiness level plan divisional managers decisions relating to divisions longterm goals overall strategy and structureBusiness level strategy indicates how a division will compete against rivals in the industryo Functional Level Planning Function Unit or department people with same skills or use same resources to perform tasksFunctional level plan functional managers decisions relating to goals that functional managers propose to pursue to help division reach businesslevel goalsFunctional level strategy indicates how a function will achieve its goalsAll of these must be consistent with one another Functional should be consistent with Business which is consistent with Corporate therefore all consistent and linked WHY PLANNING IS IMPORTANT o Allows mangers to take part in decision making for appropriate goals and strategies o Gives sense of direction and purposemanagers know whats important and controls the effective use of resources o Coordinates managers of different functions and divisions ensures they work together to achieve goals o Managers will be motivated to do their best to make sure goal is achieved since they know what they are responsible for EFFECTIVE PLANNING o Unity only one central guiding plan should be used at a time o Continuity Plans are built refined and modified so all levels fit together o Accuracy managers need to make every attempt to collect and use all available information at their disposal in planning process o Flexibility plans should be altered if the situation changesEnsures that multiple goals and plans do not clash and cause confusion STRATEGYStrategy formation analysis of organizations current situation followed by development of strategies to accomplish organizations mission and achieve its goals SWOT ANALYSIS o Strengths Weaknesses Opportunities Threats
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