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Chapter 6

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Global Management Studies
GMS 200
Sui Sui

C HAPTER 6 – PLANNING PROCESS AND TECHNIQUES How and Why Managers Plan - Planning: the process of setting objectives and determining how to accomplish them  Importance of Planning - When planning is done properly it becomes the platform for other management functions: o Organizing – allocating and arranging resources to accomplish task o Leading – guiding the efforts of human resources to ensure high levels of task accomplishment o Controlling – monitoring task accomplishments and taking necessary corrective action o Figure 6.1, The Roles of Planning, pg. 163  The Planning Process - Objectives: are specific results that one wishes to achieve - Plan: a statement of intended means for accomplishing objectives - Steps in the systematic planning process include the following: 1. Define your objectives – identify desired outcomes, know where you want to go, know when you’re falling off track along the way 2. Determine where you stand vis-à-vis – evaluate current accomplishments relative to the desired results, know where you stand in reaching objectives; know what strengths work and what weaknesses are holding you back 3. Develop premises regarding future conditions – try to anticipate future events, generate alternative “scenarios” for what may happen; identify each scenario, things that may help or hinder progress 4. Analyze and choose among action alternatives – list and carefully evaluate possible actions to be taken. Choose the alternatives most likely to accomplish your objectives; describe, step by step what must be done 5. Implement the plan and evaluate results – take action and carefully measure your progress toward your objectives. Follow the plan; evaluate results; take corrective action and revise plans as needed - The planning process is a systematic way to approach two important tasks 1. Setting performance objectives 2. Deciding how to best achieve them  Benefits of Planning - Planning Improves Focus and Flexibility o An organization with focus knows what it does best, knows the needs of their customers, and knows how to serve them well o An individual with focus knows where he or she wants to go in a career situation, and is able to retain that objective even when difficulties rise o An organization with flexibility is willing and able to change and adapt to shifting circumstances and operates with an orientation toward the future rather than the past o An individual with flexibility adjusts career plans to fit new and developing opportunities - Planning Improves Action Orientation o Complacency trap – being carried along by the flow of events o Stephen R. Covey says that good planning makes us more: 1. Results oriented – creating a performance-oriented sense of direction 2. Priority oriented – making sure the important things get first attention 3. Advantage oriented – ensuring that all resources are used to best advantage 4. Change oriented – anticipating problems and opportunities so they can be best dealt with - Planning Improves Coordination o When plans are coordinated among people and subsystems, there is greater likelihood that their combined accomplishments will advance performance for the organization - Planning Improves Time Management o It is important to distinguish between things you must do (top priority), should do (high priority), would be nice to do (low priority), and really don’t need to do (no priority). TYPES OF PLANS USED BY M ANAGERS  Short-Range and Long-Ranges Plans o Short-range plans: 1 year or less o Intermediate-range plans: 1 to 2 years o Long-range plans: 3 or more years - Top managers look at long-range plans, lower managers focus on short-range plans - Internet Time, a time frame of planning that keeps making the “long” range of planning shorter and shorter - People vary in their capability to deal effectively with different time zones - Higher management levels focus on longer time horizons  Strategic and Tactical Plans - Strategic Plans: set broad, comprehensive, and longer-term action directions for the organization o Strategic planning by top management involves determining objectives for the entire organization and describing what and where the organization wants to be in the future - Vision – clarifies the purpose of the organization and express what it hopes to be in the future - Tactical plans – help to implement all or parts of a strategic plan - Functional plans – indicate how different operations within the organization will help advance the overall strategy o Production plans – dealing with work methods and technologies o Financial plans – dealing with money and capital investments o Facilities plans – facilities and work layouts o Logistics plans – suppliers and acquiring resource inputs o Marketing plans – selling and distributing goods or services o Human resource plans – building a talented workforce Operational Plans - Operational plans – identifies short-term activities to implement strategic plans Policies and Procedures - Policy: is a standing plan that communicates broad guidelines for decisions and action - Procedure or rule: precisely describes actions that are to be taken in specific situations  Budgets - Single-use plans are used
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