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Chapter 6

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Global Management Studies
GMS 200
Ricardo Reyes

Planning Process and Techniques –Chapter 6 Introduction - Management skills and tasks get things done through others - Main skills and tasks of management entail planning, organizing, leading, direction, coordinating and controlling - Management begins with the famous five p rule – proper planning prevents poor performance (tom Gorman) - In the life of any organization, the need for planning is of critical importance to success regardless of size Objectives of planning - Planning serves as the primary management function - Planning sets the stage and provides a foundation for the manager’s efforts to organize, lead and control - A plan must be n writing, if not, it’s just an idea in a person’s head - Through planning, managers attempt to look into the future and make decisions that will facilitate goal accomplishment - In business that goal is maximization of profit - Because of the future nature of planning there will not be complete information - All plans include some element of uncertainty and risk Proper planning prevents poor performance - Planning entails (1) setting objectives and (2) determining how best to accomplish them - Objectives involves identifying specific results or desired outcomes that one intends to achieve - Plan – a statement of action steps to be taken in order to accomplish the objectives - Planning sets the stage for organizing, leading, and controlling by providing direction - Planning is central to the management process - Planning involves deciding where you want to go and how best to go about it Elements of planning - A goal and a measure of the distance from the goal - An assessment of the external environment (political, economical, social, technological, legal, environment) an assessment of the company’s (internal environment) strengths, weaknesses, opportunities and threats (swot) - An assessment of existing and needed resources - A series of tasks that will move the company toward the goal - A mechanism for measuring progress Five steps in the systematic planning process 1. Define your objectives- know where you want to go 2. Determine where you stand via-a-vis objectives – know your strengths and weaknesses(SWOT) 3. Develop premises regarding future conditions – generate alternative scenarios of what may happen (what if?) 4. Analyze and choose among action alternatives 5. Implement the plan and evaluate results Roles of Planning and controlling in the management process Why Plan? Benefits - Planning improves focus (clarity of vision and flexibility) – keep your eyes on the ball, change course when necessary - Planning is action oriented – it helps keep people and organizations focused on the action that are needed to stay competitive and to become better at what they are doing - Planning improves coordination – helps ppl make meaningful contributions to the organization as a whole and it minimizes people, groups and subgroups working in silos - Planning improves time management – managers have to use their time wisely, plans help accomplish that Planning and Time Management - Managers work in a setting that has many commitments. They need to use their time wisely. “plan your work, work your plan” o Don’t let drop-in visitors instant messaging use up your time o Do prioritize your important and urgent work o Don’t let others control your schedule o Do set and follow priorities; do most important and urgent work first Types of Plan Managers Use - All shares goal of creating order and discipline - Short-range, intermediate and long-range plans o Short-range plans – one year or less o Intermediate – 1-2 o Long -3+ Strategic and Tactical Plans - Strategic - broad, comprehensive and longer term action directions for the entire organization - Tactical plans – define what needs to be done in specific areas to implement strategic plans Typical Operational Plans (direct running of company) - Production plans – deal with work methods and technology needed by people in their work - Financial plans – money required to support various operations - Facilities – faciliti
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