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
Planning is the initial activity performed within organization
Planning is a primary function
Execution of different phases of planning
Planning is all pervasive
Activity in foreseeing possibilities
Planning is forward looking
Planning should be never ending.
Planning is a continous process
Done in consideration of internal amd external enviroment of org
Planning is an integrated process
Most important part of planning is decision making
Planning involves choices
