Unit 2: Why & How Managers Plan Flashcards
Why do even the most well thought out plans need to sometimes be revised?
Managers need the ability to look ahead, make good plans, and help themselves and others meet the challenges of the future. However, the future is full of uncertainty, the likelihood is that even the best of plans will have to be adjusted and changed at some point. Thus, managers need the insight and courage to be flexible in response to new circumstances. They also need the discipline to stay focused on goals even as complications and problems arise.
What is the importance of planning? How does it impact the other functions of management?
When planning is well done, it creates a solid platform for the other management functions: organizing, allocating, and arranging resources to accomplish tasks; leading– guiding the efforts of human resources to ensure high levels of task accomplishments; and controlling– monitoring task accomplishments and taking necessary corrective action.
What are the two main focuses of the planning process?
Planning should focus on objectives that identify the specific results or desired outcomes that you should intend to achieve. Planning should also create a real plan, a statement of action steps to be taken in order to accomplish the objectives. Furthermore, planning should result in plans being well-implemented so that objectives are accomplished.
List and describe the 5 steps in the planning process.
1) Define your objectives - Identify desired outcomes or results in very specific ways. Know where you want to go. Be specific enough that you will know you have arrived when you get there, or know how far off the mark you are at various points along the way.
2) Determine where you stand in relation to objectives - Evaluate current accomplishments relative to the desired results. Know where you stand in reaching the objectives. Know what strengths work in your favour, and what weaknesses may hold you back.
3) Develop premises regarding future conditions - Anticipate future events. Generate alternative scenarios for what may happen. For each scenario, identify things that may help or hinder progress towards your objectives.
4) Analyze alternatives and make a plan - List and evaluate possible actions. Choose the alternative most likely to accomplish your objectives. Describe what must be done to follow the best course of action.
5) Implement the plan and evaluate results - Take action and carefully measure your progress toward objectives. Follow through by doing what the plan requires. Evaluate results, take corrective action, and revise plans as needed.
List and describe the 3 benefits of planning.
Planning improves focus and flexibility. Good planning improves focus and flexibility, and both are important for performance success. An organization with focus knows what it does best, knows the needs of its customers, and knows how to serve them well. An individual with focus knows where he or she wants to in a career or situation, and in life overall. An organization with flexibility is willing and able to change and adapt to shifting circumstances. It operates with an orientation toward the future rather than the past. An individual with flexibility adjusts career plans to fit new and developing opportunities.
Planning improves action orientation. Planning is a way for people and organizations to stay ahead of the competition and become better at what they’re doing. It keeps the future visible as a performance target and reminds us that the best decisions are often those made before events force problems upon us. It helps avoid the complacency trap, simply being carried along by the flow of events.
Planning improves coordination and control. Different individuals and groups and subsystems in organizations are each doing many different things at the same time. But their efforts must add up to meaningful contributions to the organization as a whole. When plans are coordinated among people and subsystems, there is greater likelihood that their combined accomplishments will advance performance for the organization.
What is a complacency trap?
The complacency trap is being carried around along by the flow of events.
What does it mean to be calendar bound?
Calendar bound means a fully booked schedule for all days, and usually scheduled in advance. Especially for executives that have rigorous and packed schedules set up in advance, and it sets a rigid working structure for everyday.
What’s a complacency trap?
