MGT 3200 Chapter : MGT 2 14 13
Document Summary
Three purposes of planning: fundamental purpose is to establish and achieve goals, defensive purpose is to help the organization avoid threats in environment: defense, offensive purpose is to help the organization exploit opportunities in the environment. Why is planning important: helps organizations succeed, provides a sense of unity and direction, helps organizations cope with change, provides performance standards, helps to develop managerial talent. It can be used to measure results: one of many functions they perform, takes time and is expensive, there"s a lack of immediate feedback, the manager may fear failure. Gresham"s law of planning: planning may be neglected even when the manager has to best intentions to plan, the problem is incorrect priorities. It"s the tendency for day to day problems to overshadow planning problems. The planning process: phase 1: establishing objectives, phase 2: developing premises, phase 3: decision making, phase 4: implementing a course of action, phase 5: evaluating results.
