assignment 2 - Management 100 Introduction to Business...

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Management 100 Introduction to Business Management Spring 2007 Assignment 2 ID Number: G00735866 Part 1 1. Planning is a process that helps managers set objectives for the future and map out the activities and means that will make it possible to achieve those objectives. it has four elements: A. objective---are goals or targets that the firm wishes to reach within a stated amount of time. Setting objectives requires the firm to anticipate what is likely to happen in the future. B. actions---are the specific steps the firm intends to take to achieve the desired objectives C. resources allocation---the planning step that determines where the resources will come from and how the resources will be deployed to achieve the agreed-on objectives. D. implementation guidelines---the planning step that show how the intended actions will be carried out. It involves dividing tasks among the different actors, specifying reporting relationship and establishing timelines. 2. The pitfalls of planning: A. poor forecasts of future conditions B. plans imposed from above C. planning as a self-contained activity D. extensive bureaucratization E. inflexible adherence to objectives and processes Managers can overcome disadvantages (pitfalls) of planning by involving different organizational levels, using both numerical and judgmental methods, viewing planning as continuous and capable of adapting to change, avoiding
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assignment 2 - Management 100 Introduction to Business...

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