Lesson 3 (2nd Q) Flashcards
Two components of planning
Goals and action plan
The target and result the company wants
Goal
The strategy and steps a company takes
Action plan
Well-defined, clear, and unambious
Specific (S)
Provides a reliable way to gauge process
Measurable
Can be done with the given skill and time in hand
Attainable (A)
Makes sense in helping you get to your bigger goals
Relevant (R)
Has a clear dead line and amout of time to spend on
Time-bound
Proposed the notion of planning
Weihrich and Koontz
Involvement of the chosen mission and objective which serves as the best alternative set of action
Notion of planning
Importance of planning for what happens in the future
Newman’s idea
Said that process of creating strategic procedure to ensure the effectiveness of a certain performance
Henry Fayol
Process of achieving goals and organizational objectives
Planning is goal-oriented
Requires creative thinking, analytic reasoning, and problem solving
Planning is a rational process
Requires creative thinking, analytic reasoning, and problem solving
Planning is a rational process