MGMT 2100 Chapter Notes - Chapter 5: S.M.A.R.T., Nominal Group Technique, Groupthink

• School: University of Iowa
• Department: Management
• Course: MGMT 2100
• Professor: Crawford

Document Summary

Planning: choosing a goal and developing a strategy to achieve that goal. When workers and managers have a plan, they will work harder. Working hard for long periods of time. Encourages persistence even when there may be little chance of short-term. Rallys the organization to embrace the needed transformation. Encourages people to think of better ways to do their jobs. Has been proved to work for both companies and individuals. Companies with plans have larger profits and grow much faster than companies without plans. Impede change and prevent or slow needed adaptation. Sometimes companies are so focused on achieving their goals set forth in their plans that they fail to see that their plans aren"t working or need change. Planners sometimes feel that they know exactly what the future holds for their competitors, suppliers, and company"s, but all plans are made on assumptions.