GMS 200 Chapter 6: GMS 200 - Chapter 6

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ado Abdoulkadre

Document Summary

Planning: the process of setting objectives and determining how to accomplish them. Objectives: identify specific results or desired outcomes that one intends to achieve. Plan: a statement of action steps to be taken in order to accomplish objectives. How participation and involvement help build commitments to plans. Top management focuses more on long-range plans while lower management focuses more on short-range plans. Strategic plans: identifies long-term directions for the organization. Set broad, comprehensive and longer-term action directions for the entire organization. Vision: clarifies the purpose of the organization and expresses what it hopes to be in the future. Tactical plans: helps to implement all or parts of a strategic plan. Define what needs to be done in specific functions to implement strategic plans: production plans, financial plans, facilities plans, marketing plans, human resource plans. Functional plans: indicate how different operations within the organization will help advance the overall strategy. Operational plans: identifies short-term activities to implement strategic plans.