MGMT 2130 Chapter Notes - Chapter 5: Decision-Making, Vision Statement, Nominal Group Technique

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Choosing a goal and developing a method or strategy to achieve that goal.
Intensified effort
Persistence
Direction
Creation of task strategies
Benefits
Impede change and prevent or slow needed adaptation
Detachment of planners
Disadvantages
Planning
How to make a plan that works
Goals must be specific and challenging
Specific
Measurable
Attainable
Realistic
Timely
SMART goals
1. setting goals
Determination to achieve a goal; best to set goals collectively
Goal commitment
2. Developing commitment to the goals
Lists the specific steps
Action plan
3. Developing effective plans
4. Tracking progress toward goal achievement
May be more motivating and rewarding
Proximal goals - short term goals or subgoals
Distal goals - long-term or primary
Two accepted methods
Provide performance feedback
5. maintaining flexibility
Adopt an option-based approach
Maintaining flexibility by making small, simultaneous investments in many alternative
plans
Option-based planning
Cushion of resources such as extra time, people, money, or production capacity, that can
be used to address and adapt to unanticipated changes, problems, or opportunities
Slack resources
Planning from top to bottom
Chapter 5 - Planning and Decision Making
July 14, 2016
6:54 PM
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