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[8]_The_Manager_as_a_Planner_and_Strategist - THE MANAGER...

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T HE M ANAGER A S A P LANNER AND S TRATEGIST The Planning Process: Planning: The process of identifying and selecting suitable goals and courses of actions. Determining what to do with an organization’s resources. Strategy: a cluster of decisions about what goals to pursue, what actions to take, and how to use organizational resources to achieve goals. Planning is both goal-making and strategy-making process. “If you don’t know where you are going, any road will take you there.” Goals and Strategies: - Objectives for performance - The starting point of successfully managing a business. - The planned method of reaching a goal is the “strategy” Planning is a three-step activity: Vision Statement: a broad declaration of the big picture of the organization and/or statement of its dreams for future. Mission Statement: a broad declaration of the organization’s purpose that identifies the organization’s products and customers, and distinguishes the organization from its competitors. Goal: a desired future outcome that the organization strives to achieve. Purpose of setting a goal: - Provides direction, guidance and motivation. - Assists in allocating resources - Helps to define corporate culture - Helps managers in assessing performance. Goals vs. Objectives : - Goal: long-term desired results. - Objective: short-term “rungs in the ladder” steps that help you to achieve your goals. Setting Goals and Objectives: - Specific and measurable. - Time oriented - Realistic yet challenging - Set by people responsible for reaching them - Must be balanced - Integrated to performance appraisal - Flexible
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Planning takes place at the three levels of management; corporate, business or division, departmental or functional. Division: a business unit that has its own set of managers and functions or departments and competes in a distinct industry. Divisional Managers: managers who control the various divisions of an organization. Levels and Types of Planning: 1. Corporate-Level Planning Corporate-Level plan: top management’s decisions relating to the organization’s missions, overall strategy, and structure. Corporate-Level strategy: a plan that indicates the industries and national markets in which an organization intends to compete. 2. Business-Level Planning Business-Level plan: divisional managers’ decisions relating to divisions’ long-term goals, overall strategy, and structure. Business-Level strategy: A plan that indicates how a division intends to compete against its rivals in an industry. 3. Functional-Level Planning
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[8]_The_Manager_as_a_Planner_and_Strategist - THE MANAGER...

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