Decision Making_Ch5_post

Decision Making_Ch5_post - Planning and Decision Making MNO...

Info iconThis preview shows pages 1–11. Sign up to view the full content.

View Full Document Right Arrow Icon
Planning and Decision Making MNO 3370 (Honors)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Management Workplace: Community Insurance Center Chapter Concepts Benefits of Planning Setting Goals – Goal Commitment – Distal Goals – Flexibility in Planning
Background image of page 2
Benefits of Planning Benefits of Planning Creation of Task Strategies Intensified Effort Direction Persistence
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Pitfalls of Planning Pitfalls of Planning Detachment of Planners Impedes Change and Adaptation False Sense of Certainty
Background image of page 4
S.M.A.R.T. Specific Measurable Attainable Realistic Timely Setting Goals
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Examples of S.M.A.R.T. Goals? • Starbucks: “In fiscal 2006, we plan to open approximately 1,800 net new stores globally.” Walgreen: “Second is to hire a significant number of people with disabilities in our South Carolina distribution center, scheduled to open in 2007, and achieve 20% productivity gains there.” • UPS: “65% of drivers will have access to the new technology (implemented in 2004) by the end of 2005.” and “In 2005, we will increase operating profit in each of our 3 key businesses: domestic, int’l, supply chain.” • Wrigley: “In 2005, the company will decrease the long-term rate of return assumption for the assets of its U.S. (pension) plans from 8.75 % to 8.5%.” • Halliburton: “We estimate that 74% of the backlog existing on 12/31 will be eliminated the following fiscal year.” • Martha Stewart Living Omnimedia: “In 2004 we will discontinue the Catalog for Living and its online product options, and sell remaining inventory in early fiscal 2005.”
Background image of page 6
Developing Commitment to Goals The determination to achieve a goal is increased by: Setting goals participatively Making goals reasonable Making goals public Obtaining top management support
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
8 Developing Effective Action Plans Specific Steps People Resources Time Period An Action Plan Lists…
Background image of page 8
9 Tracking Progress Set… Proximal Goals Distal Goals Gather and provide… Performance Feedback
Background image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
10 Maintaining Flexibility Option-based planning keep options open by making simultaneous investments invest more in promising options maintains slack resources Learning-based planning plans need to be continuously adjusted
Background image of page 10
Image of page 11
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 35

Decision Making_Ch5_post - Planning and Decision Making MNO...

This preview shows document pages 1 - 11. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online