Module 3 Flashcards
The output of planning
Plan
Provides a methodical way of achieving desired results.
Plan
What is the first stage of any type of planning?
The conscious and explicit statement of the ultimate objectives.
The aspects of the changing environment
- 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
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
Developed after considerable detailed study of a routine set of actions
Checklist
“The management function that involves anticipating future trends and determining the best strategies and tactics to achieve organizational objectives.”
Planning according to Nickels
“The selection and sequential ordering of tasksrequired to achieve an organization goal.”
Planning according to Aldag and Stearns
“Deciding what will be done, who will do it, where, when, and howit will bedone and the standards to which it will be done.”
Planning according to Cole and Hamilton
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 thechief
executive), to his division (if he heads a division), or to his unit (if he is a supervisor).
- Setting Organizational, Divisional, Or Unit Goals
After determining the goals, the next task is to devise some means to realize them. The ways to realizethegoals are called strategies and these will be the concern of top management. The middle and lower management will
adapt their own tactics to implement their plans.
- Developing Strategies or Tactics to Reach Those Goals
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. Even if the resource requirements are currently available, they must be specified.
- Determining Resources Needed
When actual performance does not match with the planned performance, corrections may be made or reinforcement given.
- Setting Standards
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
- Top management level
- Middle management level
- Lower management level
Management level that use strategic planning
Top Management Level
Management level that use intermediate planning
Middle Management Level
Management that use operational planning
Lower Management Level
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.
Strategic Planning
In this planning method the whole company is considered, specially its objectives and current resources. The output of strategic planning is the strategic plan which spells out “the decision about long-range goals and the course of action to achieve the goals.
Strategic Planning
Refers to “the process determining the contributions that subunits can make with allocated resources.”
Intermediate Planning
Under this planning method, the goals of a subunit are determined and a plan is prepared to provide a guide to the realizations of the goals.
Intermediate Planning
Refers to “the process of determining how specific task can best be accomplished on time with available resources.
Operational Planning
It must be performed in support of strategic plan and intermediate
Operational Planning
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
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
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
a single-use plan designed to coordinate a large set of activities.
Program
is a single-use plans that is usually more limited in scope than a program and is sometimesprepared to support a program.
Project
The Contents of a Marketing Plan according to William Cohen
- The Executive Summary
- Table of Contents
- Situational Analysis and Target Market
- Marketing Objectives and Goals
- Marketing Strategies
- Marketing Tactics
- Schedules and Budgets
- Financial Data and Control
presents an overall view of the marketing project and its potential.
Executive Summary
The Contents of the Production Plan
- The amount of capacity the company must have
- How many Employees are required?
- How much material must be purchased?
The Content of Financial Plan
- An analysis of the firm’s current financial condition as indicated by an analysis of the most recent statements
- A sales forecast
- The Capital Budget
- The cash budget
- A set of pro Forma (or Projected) financial statements
- The external financing plan
Contents of the Human Resources Plan
- Personnel requirements of the company
- Plans for recruitment and selection
- Training plan
- Retirement plan
Parts of the Strategic Plan
- Company or corporate mission
- Objectives or Goals
- Strategies
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
The planning barriers, according to Plunkett and Attner
- Managers inability to plan
- Improper planning process
- Lack of commitment to the planning process
- Improper information’ 5. Focusing on the present at the expense of the future
- Too much reliance on the planning department
- Concentrating on only the controllable variables
Aids to planning that may be used
- Gather as much information as possible
- Develop multiple sources of information
- Involve others in the planning Process
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