Class 4 ppt

Class 4 ppt - – Plan for achieving day-to-day objectives – Nearly all factors are fixed – Monthly weekly daily horizon Planning Examples •

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BMGT 110 Introduction to Business Management Class 4
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Agenda Management functions Objectives Planning Levels SWOT
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Management Functions “PIC” Planning Organizing Staffing Directing Controlling
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Objectives “MBO”- Management By Objective Good objectives Meaningful and relevant Measurable Challenging but attainable
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Planning All plans must be coordinated across business and support top-level goals “Goals down, plans up” Each functional area has its own objectives and plans Sets goals and plan for achieving them
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Planning Levels Strategic Flow from mission (usually a statement) Plan for achieving long-term objectives All factors are variable Horizon 2 to 10 years or more (2-5) Tactical Flow from strategic plan Plan for achieving short-term objectives Some factors are fixed Horizon 1 year or less
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Planning Levels Operational Flow from tactical plan
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Unformatted text preview: – Plan for achieving day-to-day objectives – Nearly all factors are fixed – Monthly, weekly, daily horizon Planning Examples • Strategic decisions – New markets to serve, new products, services – Mergers, acquisitions, restructuring – New business units – Change in type of ownership – Change in organizational structure Planning Examples • Tactical decisions – Allocation of assets and resources to specific products and services – Creation and staffing of new positions – Response to competitive actions – Budgeting decisions Planning Examples • Operational – Scheduling of labor and capacity – Daily and weekly workflow plans – Training schedules SWOT • Means of strategic analysis (used in strategic planning) • Strengths • Weaknesses • Opportunities • Threats...
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This note was uploaded on 12/09/2010 for the course BMGT 110 taught by Professor Nelson during the Fall '08 term at Maryland.

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Class 4 ppt - – Plan for achieving day-to-day objectives – Nearly all factors are fixed – Monthly weekly daily horizon Planning Examples •

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