Chapter 8 - Planning & Controlling

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Wednesday October 27th, 2010
Chapter 8
Planning and Controlling
How and Why Managers Plan:
-management process: planning, organizing, leading and controlling
-1st function is planning: is the process of setting objectives and determining how to accomplish them
Importance of Planning:
-when planning is done it creates a solid platform for the other management functions:
Organizing: allocating and arranging resources to accomplish tasks
Leading: guiding the efforts of human resources to ensure high levels of task accomplishment
Controlling: monitoring task accomplishment and taking necessary corrective action
The Planning Process:
-objectives identify the specific results that one wishes to achieve
-the plan is a statement of intended means for accomplishing objectives
-the steps in the systematic planning process include:
1. Define your objectives
2. Determine where you stand
3. Develop premises regarding future conditions
4. Analyze and choose among action alternatives
5. Implement the plan and evaluate results
-the planning process is a systematic way to approach 2 important tasks (1) setting performance
objectives and (2) deciding how to best achieve them
Benefit of Planning:
-today’s organizations are facing pressure from many sources
Example: ethical expectations, government regulations, complex technologies, uncertainties, of
global economy, changing technologies
-planning in such conditions offer a number of benefits
Planning improves focus and flexibility
Both important for performance success
Planning improves action orientation
Helps stay ahead of the competition
Planning improves coordination
Improves coordination
Planning improves time management
Offers better time management
Planning improves
Makes it easier to measure performance results and take action to improve things as
Planning Theories:
-2 different theoretical approaches
Rational comprehensive planning
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