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ADM 1300 FINAL NOTESMANAGER AS PLANNER AND STRATEGIST Planning identifying and selecting suitable goals and courses of actionStrategy cluster of decisions what goals to pursue actions to take and how to use resources to achieve goalsPLANNING 3 STEP PLANNINGoDetermine 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 achieveoFormulate a strategyAnalyze organizations current situation conceive and develop strategies necessary to attain its missions and goalsoImplement a strategyManagers decide how to allocate resources and responsibilities required to implement the chosen strategies among the individuals and groups in the firm WHO PLANSoCorporate 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 inoDivisionBusiness 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 industry oFunctional 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 goals AllofthesemustbeconsistentwithoneanotherFunctionalshouldbeconsistentwithBusinesswhichisconsistentwithCorporatethereforeallconsistentandlinkedWHY PLANNING IS IMPORTANToAllows mangers to take part in decision making for appropriate goals and strategiesoGives sense of direction and purposemanagers know whats important and controls the effective use of resourcesoCoordinates managers of different functions and divisions ensures they work together to achieve goalsoManagers will be motivated to do their best to make sure goal is achieved since they know what they are responsible forEFFECTIVE PLANNINGoUnity only one central guiding plan should be used at a timeoContinuity Plans are built refined and modified so all levels fit together
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