chapter 8 Flashcards
what is planning
- Planning: The process of
setting objectives
and determining
how best to
accomplish them - Objective & Goals: Identify the
specific results or
desired outcomes
that one intends
to achieve - Plan: A statement of
action steps to be
taken in order to
accomplish the
objectives
steps in the planning process
- Define your objectives
- Determine where you stand vis-à-vis objectives
- Develop premises regarding future conditions
- Analyze alternatives and make a plan
- Implement the plan and evaluate results
Role of planning in the management process
- planning
- organizing
- controlling
- leading
benefits of planning
- Improves focus and flexibility
- Improves action orientation
- Improves coordination and control
- Improves time management
time management tips
- DO say “no” to requests that distract from what you
should be doing - DON’T get bogged down in details that can be
addressed later - DO screen telephone calls, emails, and meeting
requests - DON’T let drop-in visitors, text messaging use up your
time - DO prioritize your important and urgent work
- DON’T become calendar bound by letting others control
your schedule - DO follow priorities; do most important and urgent
work first
strategic plans
set broad, comprehensive, and longer-term action directions for the entire organization or a major division
vision
clarifies purpose of the organization and what it
hopes to be in the future
tactical plans
specify how the organization’s resources are used to implement strategy
functional plans
indicate how different components within the organization will help accomplish the overall
strategy
Operational plans
describe short-term activities to implement strategic plans
forcasting
- Attempts to predict the future
- Qualitative forecasting uses expert opinions
- Quantitative forecasting uses mathematical models
and statistical analysis of historical data and surveys
contingency planning
- Identifying alternative courses of action to take when
things go wrong - Contingency plans anticipate changing conditions
- Contingency plans contain trigger points to indicate
when to activate plan
Scenario planning
- A long-term version of contingency planning
- Identifying alternative future scenarios
- Plans made for each future scenario
- Increases organization’s flexibility and preparation
for future shocks
Benchmarking
- Use of external and internal comparisons to better
evaluate current performance - Adopting best practices: things people and
organizations do that lead to superior performance
SMART goals
Specific: Desired outcomes clear to anyone
Measurable: No doubt when accomplished, or missed
Attainable: Challenging, but realistic to accomplish
Relevant: Focused on important results
Timely: Linked to due dates and timetable
