ME 212: Module 3 - PLANNING Flashcards
It is undertaken to minimize mistakes in decision-making.
Planning
It is the output of planning that provides a methodical way of achieving the desired results.
Plan
It serves as a useful guide in the implementation of activities.
Plan
What is the first stage of any type of planning?
Conscious and explicit statement of the ultimate objectives.
It pervades management.
Planning
It not only involves predetermining a course of action to be taken relative to a known event but also includes mentally searching for possibilities of future problems that might appear.
Planning
It is a function of management in which a conscious choice of patterns of influence is determined for decision makers so that many decisions will be coordinated for some period of time and will be directed toward the chosen broad goals.
Planning
It is a predetermined course of action.
Plan
It is developed after considerable detailed study of a routine set of actions and can serve as a predetermined pattern that will ensure correct future action with a maximum of rethinking on the part of the operator.
Checklists
According to __________, planning refers to “the management function that involves anticipating future trends and determining the best strategies and tactics to achieve organizational objectives.” This definition is useful because it relates the future to what could be decided now.
Nickels and others
They defined planning as selection and sequential ordering of tasks required to achieve organizational objectives.
Aldag and Stearns
Their definition of planning provides a better guiding on how to effectively perform this vital activity.
Cole and Hamilton
Planning according to them is “deciding what will be done, who will do it, where, when, and how it will be done and the standards to which it will be done.
Cole and Hamilton
It provides an answer to the concern of an organizational, divisional, or unit goals
Setting of goals
It may be defined as the “precise statement of the results sought, quantified in the time and magnitude, where possible”.
Goal
At what organizational level is the goal of attaining a return on investment of 25%?
Company Level
At what organizational level is the goal of increasing the number of projects undertaken by the company?
Division Level
At what organizational level is the goal of increasing the number of project engineers?
Unit Level
It may be defined as “a course of action aimed at ensuring that the organization will achieve its objectives.”
Strategy
It is a short-term action taken by management to adjust to negative internal or external influences.
Tactic
They are formulated and implemented in support of the firm’s strategies.
Tactics
The decision about the short-term goals and the courses of action are indicated in the __________.
Tactical Plan
They are the general and ultimate ends toward which they are aimed.
Goals of Organizations
It is the specific and well defined roles and activities on which the organization elects to concentrate its efforts.
Mission of Organization
It must be tailored to the specific situation in which an organization find itself. A strategy that has been successful for one company may not be good for another.
Strategy of Organization
It may be defined as “a quantitative or qualitative measuring device designed to help monitor the performances of people, capital goods or processes.
Standard
The quantity and quality of resources needed must be correctly determined. To satisfy strategic requirements, a general statement of needed resources will suffice. The specific requirements will be determined by the different units of the company.
Determining Resources Needed
At what level is strategic planning undertaken?
Top Management Level
At what level is intemediate planning undertaken?
Middle Management Level
At what level is operational planning undertaken?
Lower Management Level
It refers to the process of determining the major goals of the organization and the policies and the strategies for obtaining and using resources to achieve those goals. The top management of any firm is involved in this type of planning.
Strategic Planning
It refers to “the process determining the contributions that subunits can make with allocated resources.” This type of planning is undertaken by middle management.
Intermediate Planning
It is design to support strategic plan.
Intermediate Planning
It refers to “the process of determining how specific task can best be accomplished on time with available resources.” This type of planning is a responsibility of lower management.
Operational Planning
President/General Manager are responsible for?
Strategic Planning
Marketing Manager, Production Manager, Finance Manager, Personnel Manager are responsible for?
Intermediate Planning
Industrial Engineering Manager, Factory Manager, Quality Control Manager are responsible for?
Operational Planning
This is the written document or blueprint for implementing and controlling an organization’s marketing activities related to particular marketing strategy.
Marketing Plan
This is the written document that states the quantity of output of a company must be produced in broad terms and by product family.
Production Plan
It is a document that summarizes the current financial situation of the firm, analyzes financial needs and recommends a directions for financial activities.
Financial Plan
It is a document that indicates the human resource needs of accompany detailed in terms of quantity and quality and based on the requirements of the company’s strategic plan.
Human Resource Management Plan
These are plans intended to cover a period of less than one year. First-line supervisors are mostly concerned with these plans
Short-Range Plan
These are plans covering a time span of more than one year. These are mostly undertaken by middle and top management.
Long-Range Planning
These are plans that are used again and again, and they focus on managerial situations that recur repeatedly.
Standing Plan
They are broad guidelines to aid managers at every level in making decisions about recurring situations or functions
Policies
They are plans that describe the exact series of actions to be taken in a given situation.
Procedures
They are statements that either require or forbid a certain action.
Rules
These plans are specifically developed to implement courses of action that are relatively unique and are unlikely to be repeated.
Single-Use Plan
According to Weston and Brigham, is “a plan which sets forth the projected expenditure for a certain activity and explains where the required funds will come from.”
Budgets
It is a single-use plan designed to coordinate a large set of activities.
Program
It is a single-use plans that is usually more limited in scope than a program and is sometimes prepared to support a program.
Project
It refers to the “strategic statement that identifies why an organization exists, its philosophy of management, and its purpose as distinguished from other similar organizations in terms of products, services, and markets.
Company or Corporate Mission
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