PLANNING Flashcards
1
Q
- The output of planning
- Provides a methodological way of achieving desired results
- A useful guide in implementing activities
A
Plan
2
Q
- Without the _____, minor tasks may be given more attention than important ones.
- Hindering the accomplishments of objectives.
A
Plan
3
Q
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.
A
Nickels
4
Q
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.
A
Aldag and Stearns
5
Q
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
A
Cole and Hamilton
6
Q
Various Management Levels of Planning
A
Top
Middle
Lower
7
Q
Strategic Planning (years)
A
1-10 years
8
Q
Intermediate Planning
A
6 months to 2 years
9
Q
Operational Planning
A
1 week to 1 year
10
Q
- The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.
A
Strategic Planning
11
Q
- 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.
A
Strategic
12
Q
- 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.
A
Intermediate
13
Q
- 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.
A
Operational Planning
14
Q
The Planning Process
A
- Setting Ogranizational, Divisional, or Unit Goals
- Developing Strategies or Tactics to Reach Goals
- Determining Resources Needed
- Setting Standards
15
Q
Provide a sense of direction to his firm, to his division, or to his unit
A
Setting Organizational, Divisional, or Unit Goals
16
Q
Defined as “precise statement of results sought, quantified in time and magnitude, where possible.”
A
Goals
17
Q
SMART
A
Specific
Measurable
Agreed
Realistic
Time-Based
18
Q
- Goals focus on results
- Goals include imperative verbs so the employee knows that action is required.
A
Specific
19
Q
- Results are assessable either qualitatively or quantitatively
A
Measurable
20
Q
- You and your employees then discuss these proposed objectives and come to an agreement.
A
Agreed
21
Q
- The goals should cover areas within the control of the employee or that they have influence over.
A
Realistic
22
Q
- Each goal has a completion date, so the employee can plan their work.
A
Time-Based
23
Q
Organizational Level
A
Company
Division
Unit
24
Q
- A course of action aimed at ensuring that the organization will achieve its objective.
- This would be a concern of top management.
A
Strategies
25
Criteria for Developing a Good Strategy
Give overall direction?
Fit Resources and Opportunities?
Reach Those Affected?
Advance the Mission?
Minimize Resistance and Barriers?
26
* 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
27
* Used to be #1 in the digital photography products and services – failed to respond to rapid development in a digital photography.
Kodak
28
* 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
29
If strategies or tactics have been devised, the engineer manager will determine the human and nonhuman resource requirements.
Determining Resources Needed
30
Features for Planning Standards
* Quality Assurance Necessities
* Risk Management Plan
* Security Measures
* Testing Techniques
* Documentation and Portfolio Requirements
31
Types of Functional Area Plans
1. Marketing Plan
2. Production Plan
3. Financial Plan
4. Human Resource Management Plan
32
The written document or blueprint for implementing and controlling activities related to marketing strategy.
Marketing Plan
33
Written document that states the quantity of output a company must produce in broad terms and by product family.
Production Plan
34
Plans covering a time span of more than one year.
Long-range plans
35
Document that indicates the human resource needs of a company
Human Resource Management Plan
36
Plans intended to cover a period of less than one year.
First-line supervisors are concerned.
Short-range plans
37
Standing plans classification
1. Policies
2. Procedures
3. Rules
38
Plans that describe the exact series of actions to be taken in a given situation.
Procedures
39
Statements that either require or forbid a certain action.
Rules
40
Plans specifically developed to implement courses of action that are relatively unique and unlikely to be repeated.
Single-Use Plans
41
Single-Use Plans Classification
budgets
programs
projects
42
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
43
Single-use plan designed to coordinate a large set of activitites
Program
44
A single-use plan that is usually more limited in scope than a program and is sometimes prepared to support a program.
Projects
45
Contents of Marketing Plan
46
Contents of Production Plan
47
Contents of Financial PLan
48
Contents of Human Resources Plan
49
Parts of Strategic Plan
1. Company or corporate mission
2. Objectives or goals
3. Strategies
50
Aids to planning
1. Gather as much information as possible
2. Develop multiple sources of information
3. Involve others in the planning process
51
Planning Barriers (Accordign to Plunkett and Attner)
1. manager's inability to plan
2. improper planning process
3. lack of commitment to the planning process
4. improper information
5. focusing on the present at the expense of the
future
6. too much reliance on the planning department
7. concentrating on only the controllable variables
52
Plans used again and again, and they focus on managerial situations that recur repeatedly.
Standing Plans
53
Broad guidelines to aid managers at every level
Policies
54
A document that summarizes the current financial situation of the firm
Financial Plan
55
Types of Plans
Functional Areas
Time Horizon
Frequency of Use
56
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
