ME (Module 3-4) Midterms Flashcards
The output of planning, , provides a methodical way of achieving desired results. It serves as a useful guide.
Plan
Aspects of changing environment are:
- Changes in Technology
- Changes in Government Policy
- Changes in all overall economic activity
- Changes in the nature of competition
- Changes in social norms and attitudes
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 goal.
Planning
It is a predetermined course of action.
Plan
It is developed after considerable detailed study of a routine set of actions, can serve as a predetermined pattern, which will ensure correct future action with a maximum of rethinking on the part of the operator.
Checklist
According to them, 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 define planning as “the selection and sequential ordering of tasks required to achieve an organization goal. “ The definition centers on the activity to accomplish the goals.
Aldag and Stearns
Their definition provides a better guide on how effectively perform this vital activity. 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
The process of planning:
- Setting organizational, divisional, or unit goals
- Developing strategies or tactics to reach those goals
- Determining resources needed, and
- Setting standard
The first task of the engineer manager is to provide a sense of direction to his firm (if he is the chief executive), to his division (if he heads a division), or to his unit (if he is a supervisor).
Setting Organizational, Divisional, Unit Goals
This may be defined as the “precise statement of the results sought, quantified in the time and magnitude, where possible”.
Goals
To which organizational level does attaining a return on investment of 25% belongs to?
Company
To which organizational level does increasing the number of projects undertaken by the company belongs to?
Division
To which organizational level does increasing the number of project engineers belong to?
Unit
After determining the goals, the next task is to devise some means to realize them.
Developing Strategies or Tactics to Reach Those Goals
The ways to realize the goals.
Strategies
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.
Tactics
These are the general and ultimate ends toward which they are aimed. Different organizations have different goals.
Goals of Organizations
It is the specific and well defined roles and activities on which the organization elects to concentrate its effort.
Mission of Organizations
Strategies 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 Organizations
When particular sets of strategies or tactics have been devised, the engineer manager will, then, determine the human and non-human resources requires by such strategies or tactics
Determining Resources Needed
The standards for measuring performance may be set at the planning stage. When actual performance does not match with the planned performance, corrections may be made or reinforcement given.
Setting Standards
It may be defined as “a quantitative or qualitative measuring device designed to help monitor the
performances of people, capital goods or processes.”
Standard
Planning activities undertaken at various levels are:
- Top management level- strategic planning
- Middle management level- intermediate planning
- Lower management level- operational planning
This term 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
The output of strategic planning is the _____________ which spells out “the decision about long-range goals and the course of action to achieve the goals.
Strategic plan
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 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. It must be performed in support of strategic plan
Operational planning
This is design to support the strategic plan
Intermediate plan
Useful Generalizations of Planning
- A plan should be directed toward well-defined objectives.
- Plans made by different specialists should be coordinated through adequate communication among specialists.
- Planning is a prerequisite to other functions of management.
- Planning pervades the hierarchy of an organization.
- A manager should relate the degree of commitment of his resources to the need of definite plans.
- Plans should retain flexibility.
Plans are different types. They may be classified in terms of:
- Functional areas
- Time horizon
- Frequency of use
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 a company 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 Plan
These are plans that are used again and again, and they focus on managerial situations that recur repeatedly.
Standing Plans
These plans are specifically developed to implement courses of action that are relatively unique and are unlikely to be repeated.
Single-Use Plan