PLANNING Flashcards
- The output of planning
- Provides a methodological way of achieving desired results
- A useful guide in implementing activities
Plan
- Without the _____, minor tasks may be given more attention than important ones.
- Hindering the accomplishments of objectives.
Plan
According to _________:
o Refers to the management function that involves anticipating future trends and determining the best strategies and tactics to achieve organizational objectives.
o Relates the future to what could be decided now.
Nickels
According to ____________:
o The selection and sequential ordering of tasks required to achieve an organizational goal.
o It focuses on the activity required to accomplish the goals.
Aldag and Stearns
According to _________:
o Planning is deciding:
- What will be done
- Who will do it
- Where, when, and how it will be done
- Standards to which it will be done
o It provides a better guide on how to perform planning
Cole and Hamilton
Various Management Levels of Planning
Top
Middle
Lower
Strategic Planning (years)
1-10 years
Intermediate Planning
6 months to 2 years
Operational Planning
1 week to 1 year
- The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.
Strategic Planning
- The whole company is considered, specifically its objectives and current resources.
- The output of the ________ plan is the decision about long-range goals and the course of action to achieve these goals.
Strategic
- The process of determining the contributions that subunits can make with allocated resources.
- The goals of subunit are determined and a plan is prepared to provide a guide to the realization of the goals.
- The ____________ plan is designed to support the strategic plan.
Intermediate
- The process of determining how specific tasks can best be accomplished on time with available resources.
- This is performed in support of the strategic plan and the intermediate plan.
Operational Planning
The Planning Process
- Setting Ogranizational, Divisional, or Unit Goals
- Developing Strategies or Tactics to Reach Goals
- Determining Resources Needed
- Setting Standards
Provide a sense of direction to his firm, to his division, or to his unit
Setting Organizational, Divisional, or Unit Goals
Defined as “precise statement of results sought, quantified in time and magnitude, where possible.”
Goals
SMART
Specific
Measurable
Agreed
Realistic
Time-Based
- Goals focus on results
- Goals include imperative verbs so the employee knows that action is required.
Specific
- Results are assessable either qualitatively or quantitatively
Measurable
- You and your employees then discuss these proposed objectives and come to an agreement.
Agreed
- The goals should cover areas within the control of the employee or that they have influence over.
Realistic
- Each goal has a completion date, so the employee can plan their work.
Time-Based
Organizational Level
Company
Division
Unit
- A course of action aimed at ensuring that the organization will achieve its objective.
- This would be a concern of top management.
Strategies
Criteria for Developing a Good Strategy
Give overall direction?
Fit Resources and Opportunities?
Reach Those Affected?
Advance the Mission?
Minimize Resistance and Barriers?
- Create the products and services that give customers the best satisfaction – by consistently responding to smart technology.
- Retain the 1st position in the world in the same line of business.
Samsung
- Used to be #1 in the digital photography products and services – failed to respond to rapid development in a digital photography.
Kodak
- Concern of middle and lower management.
- This is a short-term action taken by management to adjust to negative internal or external influences.
- It is implemented in support of the firm’s strategies.
Tactics
If strategies or tactics have been devised, the engineer manager will determine the human and nonhuman resource requirements.
Determining Resources Needed
Features for Planning Standards
- Quality Assurance Necessities
- Risk Management Plan
- Security Measures
- Testing Techniques
- Documentation and Portfolio Requirements
Types of Functional Area Plans
- Marketing Plan
- Production Plan
- Financial Plan
- Human Resource Management Plan
The written document or blueprint for implementing and controlling activities related to marketing strategy.
Marketing Plan
Written document that states the quantity of output a company must produce in broad terms and by product family.
Production Plan
Plans covering a time span of more than one year.
Long-range plans
Document that indicates the human resource needs of a company
Human Resource Management Plan
Plans intended to cover a period of less than one year.
First-line supervisors are concerned.
Short-range plans
Standing plans classification
- Policies
- Procedures
- Rules
Plans that describe the exact series of actions to be taken in a given situation.
Procedures
Statements that either require or forbid a certain action.
Rules
Plans specifically developed to implement courses of action that are relatively unique and unlikely to be repeated.
Single-Use Plans
Single-Use Plans Classification
budgets
programs
projects
A plan which sets forth the projected expenditure for a certain activity and explains where the required funds will come from.
(According to Weston and Brigham)
budget
Single-use plan designed to coordinate a large set of activitites
Program
A single-use plan that is usually more limited in scope than a program and is sometimes prepared to support a program.
Projects
Contents of Marketing Plan
Contents of Production Plan
Contents of Financial PLan
Contents of Human Resources Plan
Parts of Strategic Plan
- Company or corporate mission
- Objectives or goals
- Strategies
Aids to planning
- Gather as much information as possible
- Develop multiple sources of information
- Involve others in the planning process
Planning Barriers (Accordign to Plunkett and Attner)
- manager’s inability to plan
- improper planning process
- lack of commitment to the planning process
- improper information
- focusing on the present at the expense of the
future - too much reliance on the planning department
- concentrating on only the controllable variables
Plans used again and again, and they focus on managerial situations that recur repeatedly.
Standing Plans
Broad guidelines to aid managers at every level
Policies
A document that summarizes the current financial situation of the firm
Financial Plan
Types of Plans
Functional Areas
Time Horizon
Frequency of Use
The __________for measuring performance may be set at the planning stage.
A ___________ may be defined as “quantitative or qualitative measure device designed to help monitor the performance of people, capital goods, or processes.”
standard
