Ch 5 and 6 - BUS 315 Instructor Global Management...

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BUS 315: Instructor: K. Skylar Powell Ch.5: Planning: The foundation of successful management Ch.6: Strategic management: How star managers realize a grand design Objectives: The objectives for our classes on Friday, January 28 th , and Wednesday, February 2 nd are to 1) introduce the importance and fundamentals of planning, and 2) introduce strategic management and strategic planning. . Assignments: Our first ethics assignment is due on Friday the 28 th of January and the second ethics paper is due on Wednesday the 2 nd of February. Also, students should take the MBTI and Strong tests as soon as possible. Outline of Slides/Study Guide: Group warm-up question: Cultural dimensions cocktail party activity that we prepared for on Tuesday the 7 th of September. 1. Ch.5: Planning i. Planning (definition 1): Setting goals and deciding how to acheive them. ii. Planning (definition 2): Coping with uncertainty by formulating future courses of action to achieve specified results. b. Why is planning important: i. If you have a plan, you can monitor your progress: In many ways, a plan is like a road map that allows managers to see where they are in the pursuit of goals/objectives. ii. Organizations are complex, and plans define responsibilities and coordinates activities: Without plans, it would be almost impossible for large organizations to coordinate their activities across departments and divisions. iii. If you have made a plan, then you have thought about the future: By planning, managers are forced to try to anticipate future developments. This practice allows firms to better adjust and position themselves for what may come. iv. In an uncertain world, planning is like taking out an insurance policy: Because the future is often laced with uncertainties, if managers have planned ahead to prepare for possible events, then their organizations will be better positioned to capture opportunities and adjust to shocks. c.
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This note was uploaded on 04/08/2011 for the course BUS 315 taught by Professor Powell during the Spring '11 term at University of Hawaii, Manoa.

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Ch 5 and 6 - BUS 315 Instructor Global Management...

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