MGT 1000 Chapter Notes - Chapter 5: Brainstorming, Delphi Experiment, Groupthink
Document Summary
Choosing a goal, and developing a method or strategy to achieve that goal. 1st benefit of planning: managers and employees put out greater effort when following a plan. 2nd benefit of planning: planning encourages persistence when there may be little chance of short-term success. Plans encourage managers/employees to direct persistent efforts toward activities that help accomplish goals and away from activities that don"t. 4th benefit of planning: encourages the development of task strategies. 5th benefit of planning: planning has proven to work for both companies and individuals. Companies with plans have larger profits and grow faster than companies that don"t. 1: false sense of certainty: planners sometimes feel that they know exactly what the future holds for their competitors, their suppliers, and their companies. However, all plans are based on assumptions: detachment of planners: detachment leads planners to plan for things they don"t understand. Plans are meant to be guidelines for action, not abstract theories.
