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Chapter 8

Chapter 8 notes

11 Pages
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Department
Global Management Studies
Course Code
GMS 200
Professor
Shavin Malhotra

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Chapter 8: Planning and Controlling
How and Why Managers Plan
Planning: is the process of setting objectives and determining how to accomplish
them
Importance of Planning
Planning done well, creates a solid platform for the other management functions
oOrganizing: allocating and arranging resources to accomplish taks
oLeading: guiding the efforts of human resources to ensure high levels of task
accomplishment
oControlling: monitoring task accomplishments and taking necessary
corrective action
Can help stay on top of completion
Planning Process
Objectives: are specific results that one wishes to achieve
Plan: is a statement of intended means for accomplishing objectives
1.Define your objectives
2.Determine where you stand vis a vis objectives
3.Develop premises regarding future conditions
4.Analyze and choose among action alternatives
5. Implement the plan and evaluate results
Benefits of Planning
Planning improves focus and flexibility
oOrganization with focus knows what it does best, knows the needs of its
customers, and knows how to serve them well
www.notesolution.com
oIndividual with focus knows where he or she wasnt to go in a career or
situation and is able to retain that objective even when difficulties arise
oOrganization with flexibility is willing and able to change and adapt to
shifting circumstances
oIndividual with flexibility adjusts career plans
Planning improves Action Orientation
oStay ahead of the competition and always become better at what they are
doing
oAvoid the complacency trap of simply being carried along by the flow of events
oConvey good planning makes us:
Results oriented
Priority oriented
Advantage oriented
Change oriented
Planning improves coordination
oMeans end chain: lower level objectives help accomplish higher-level ones
Planning improves time management
oEasy to lose track of time and fall prey to what consultants identify as time
wasters
oDistinguish between things that you must do (top priority), should do (high
priority), would be nice to do (low priority), and really dont need to do (no
priority)
Planning improves control
oControl making it easier to measure performance results and take action to
improve things as necessary
oHelps define objectives
Planning Theories
www.notesolution.com
Rational comprehensive planning (RCP): focuses on a logical decision-making
approach and advocates a holistic approach to problem solving
oUses conceptual or mathematical models that relate ends (objectives) to
means (resources and constraints) with a heavy reliance on statistical
analysis
Major advantage is its simplicity. Logical, deliberate process
Disadvantage, somewhat unrealistic
Incrementalism: muddle through
Six key procedures for disjointed incrementalism
oInstead of comprehensive survey and the evaluation for all alternatives, only
focus on policies that different incrementally from existing policies
oOnly small amount of policy alternatives are considered
oEach policy alternative, only a restricted number or important consequences
evaluated
oProblem confronting the decision maker is continually redefined:
incrementalism allows for countless ends means and means ends adjustments
oNo one right decision or solution
oIncremental decision making is described as remedial
Model recognizes that planning is continually being undertaken and revised
Incremental panning is limited in scope as it generally addresses only a small range
of alternatives
Types of Plans Used by Manager
Short and Long Range Plans
Short range: cover one year or less
Intermediate range plans: cover one to two years
Long term plans: look three or more years into the culture
Strategic and Operational Plans
www.notesolution.com

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Description
Chapter 8: Planning and Controlling How and Why Managers Plan • Planning: is the process of setting objectives and determining how to accomplish them Importance of Planning • Planning done well, creates a solid platform for the other management functions o Organizing: allocating and arranging resources to accomplish taks 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 • Can help stay on top of completion Planning Process • Objectives: are specific results that one wishes to achieve • Plan: is a statement of intended means for accomplishing objectives 1. Define your objectives 2. Determine where you stand vis a vis objectives 3. Develop premises regarding future conditions 4. Analyze and choose among action alternatives 5. Implement the plan and evaluate results Benefits of Planning • Planning improves focus and flexibility o Organization with focus knows what it does best, knows the needs of its customers, and knows how to serve them well www.notesolution.com o Individual with focus knows where he or she wasn’t to go in a career or situation and is able to retain that objective even when difficulties arise o Organization with flexibility is willing and able to change and adapt to shifting circumstances o Individual with flexibility adjusts career plans • Planning improves Action Orientation o Stay ahead of the competition and always become better at what they are doing o Avoid the complacency trap of simply being carried along by the flow of events o Convey good planning makes us: Results oriented Priority oriented Advantage oriented Change oriented • Planning improves coordination o Means end chain: lower level objectives help accomplish higher-level ones • Planning improves time management o Easy to lose track of time and fall prey to what consultants identify as time wasters o Distinguish between things that 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) • Planning improves control o Control making it easier to measure performance results and take action to improve things as necessary o Helps define objectives Planning Theories www.notesolution.com • Rational comprehensive planning (RCP): focuses on a logical decision-making approach and advocates a holistic approach to problem solving o Uses conceptual or mathematical models that relate ends (objectives) to means (resources and constraints) with a heavy reliance on statistical analysis • Major advantage is its simplicity. Logical, deliberate process • Disadvantage, somewhat unrealistic • Incrementalism: muddle through • Six key procedures for “disjointed incrementalism” o Instead of comprehensive survey and the evaluation for all alternatives, only focus on policies that different incrementally from existing policies o Only small amount of policy alternatives are considered o Each policy alternative, only a restricted number or important consequences evaluated o Problem confronting the decision maker is continually redefined: incrementalism allows for countless ends means and means ends adjustments o No one right decision or solution o Incremental decision making is described as remedial • Model recognizes that planning is continually being undertaken and revised • Incremental panning is limited in scope as it generally addresses only a small range of alternatives Types of Plans Used by Manager Short and Long Range Plans • Short range: cover one year or less • Intermediate range plans: cover one to two years • Long term plans: look three or more years into the culture Strategic and Operational Plans www.notesolution.com • Strategic plan: identifies long-term directions for the organization • Top management planning involves determining objectives for the entire organization and describing what and where the organizations wants to be in the future • Operational plans: identifies activities to implement strategic plans o Production plans: dealing with the methods and technology needed by people in ther work o Financial plans: dealing with money required to support various operations o Facilities plans: dealing with facilities and work layouts o Marketing plans: dealing with the requirements of selling and distributing goods or services o Human resource plans: dealing with the recruitment, selection, and placement of people into various jobs Policies and Procedures • Standing plans: form of organizational policies and procedures are designed for use over and over again • Policy: is a standing plan that communicates broad guidelines for decisions and action • Rules or Procedures: precisely describes actions that are to be taken in specific situations Budges and Projects • Single use plans: used once, serving the needs and objectives of well-defined situations in a timely manner • Budget: is a plan that commits resources to projects or activities • Fixed budget: allocates a fixed amount of resources for a specific purpose • Flexible budget: allows the allocation of resources to vary in proportion with various levels of activity • Zero-based budget: allocates resources as if each budget were brand new www.notesolution.com • Projects: are one time activities that have clear beginning and end points • Project management: makes sure that activities required to complete a project are accomplished on time and correctly • Project schedules: define specific task objectives, link activities to be accomplished with due dates, and identify the amounts and time of resource requirements Planning Tools and Techniques Forecasting • Forecasting: attempts to predict the future • Qualitative forecasting: expert opinions to predict the future • Quantitative forecasting: uses mathematical models and statistical analysis of historical data and surveys to predict future events • Forecasts should be treated cautiously, planning aids, not substitutes Contingency Planning • Contingency planning: identifies alternative courses of action to take when things go wrong • Never perfect • Changes in environment Scenario Planning • Scenario planning: identifies alternative future scenarios and makes plans to deal with each Benchmarking • Benchmarking: uses external comparisons to gain insights for planning • Purpose is to find out what other people and organizations are doing very well, and plan to incorporate these ideas into one’s own operations • Best practices: are things that lead to superior performance Use of Staff Planning www.notesolution.com •
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