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0324302592_62400 - Chapter 5 Planning in the Contemporary...

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Chapter 5: Planning in the Contemporary Organization CHAPTER 5 PLANNING IN THE CONTEMPORARY ORGANIZATION LEARNING OBJECTIVES 1. Describe the managerial function of planning and explain why planning is critical for effective leadership. 2. Explain the benefits and costs of planning. 3. Discuss the potential advantages and disadvantages of top-down and bottom-up planning. 4. Define strategic planning and describe the three levels of strategic planning. 5. Define operational planning and distinguish between standing and single-use plans. 6. Describe individual planning systems such as management by objectives programs and the Balanced Scorecard. 7. Define contingency planning and identify the circumstances under which contingency planning would be appropriate. 8. Discuss how advances in information technology have affected operational planning. 9. Describe common barriers to effective planning and explain ways to reduce these barriers. CHAPTER OVERVIEW This chapter addresses the planning function of management and its importance in the success of the organization. Plans provide a foundation for coordinating and directing the activities of an organization so that the organization’s goals can be achieved. Planning provides a “roadmap” to follow as the employees of a firm fulfill their daily responsibilities. Special attention is given to understanding the planning process at both the strategic and operational levels. PEDAGOGY GRID Chapter Boxes Main Points Facing the Challenge/Meeting the Challenge: Can Motorola Survive? / Ed Zander has a Plan for Motorola Motorola’s culture led them to ignore customer preferences, resulting in a serious decline in market share. New CEO Ed Zander is implementing both short- and long-term plans that he hopes will put Motorola back on top by insisting that Motorola puts customers first once again. At the Forefront: Is Failing to Plan Planning to Fail? More than 95 percent of new businesses and products fail within the first 24 to 30 months. Planning helps new businesses survive by guiding overall management and improving decision making. 63
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Chapter 5: Planning in the Contemporary Organization Now Apply It: Developing a Professional Development Plan You will be more successful if you plan your personal development and career. The planning tools used for organizational planning are the same ones that apply to personal planning. Leaders in Action: Ann Mulcahy: Turnaround at Xerox Planning carefully and getting everyone in the company focused on the goal is the most important job of a manager. LECTURE NOTES I. Introduction Refer to Figure 5.1 A. Planning provides a foundation for all organizational activities. Organizational success depends on the ability of managers to develop a plan that brings together the diverse set of tasks that occur within the organization.
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