GMS 200 Chapter Notes - Chapter 6: Participatory Planning, Scenario Planning, Personal Development
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GMS 200 Full Course Notes
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Planning the process of setting objectives and determining how to best accomplish them. Objectives identify the 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. The importance of planning: creates a solid platform, decide where you want to go, decide how best to go about it. Planning process: define your objectives, determine where you stand vis-a-vis objectives, develop premises regarding future conditions, analyze and choose among action alternatives. Long-range and short-range plans: short-range plans = 1 year or less. Long-range plans 3 or more years: people vary in their capability to deal effectively with different time horizons, higher management levels focus on longer time horizons. Forecasting: making assumptions about what will happen in the future, qualitative forecasting uses expert opinions, quantitative forecasting uses mathematical and statistical analysis.