GMS 200 Chapter Notes - Chapter 8: Participatory Planning, Project Management, Statistical Process Control

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Shavin Malhotra

Document Summary

The process of setting objectives and determining how to best accomplish them. creates a solid platform for the four management functions. plan: a statement of action steps to be taken in order to accomplish the objectives. systematic planning process: define your objectives: objectives identify the specific results or desired outcomes that one intends to achieve, determine where you stand vis- -vis objectives: evaluate current accomplishments relative to what you want to actually achieve. Implement the plan and evaluate results: take action and measure your progress toward your objectives. Improves focus and flexibility: a company with focus knows what it does best and knows the needs of the customers, and flexibility allows for it to handle change and adapt to the change. Improves action orientation: allows for companies to stay ahead of the competition. Makes us more result, change, advantage, and priority oriented. Improves coordination: creates a means-end chain where lower-level objectives accomplish higher goals.