Ch 5 and 6 - Ch.5: Planning What is planning? Definition 1:...

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Ch.5: Planning
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What is planning?? Definition 1: Setting goals and deciding how to acheive them. Definition 2: Coping with uncertainty by formulating future courses of action to achieve specified results.
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Why plan? So you can monitor your progress Plans define responsibilities and coordinates activities . Plans force organizations to think about the future Planning is like taking out an insurance policy when the future is uncertain
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Diversity in approaches to planning/uncertainty: The Miles and Snow Typology Defenders: Stick to core products & services (remember “exploitation”?); defend markets from new entrants/competitors. Prospectors: Focus on developing new products or services (remember “exploration”?); creating new markets. Analyzers: Follow & learn from prospectors, also stick to some core businesses and services to refine and improve (“exploration” and “exploitation”); Defender + prospector = analyzer. Reactors: Passive; make changes when the business environment forces them to; often too late and they fail. *Can you think of real examples for each of these types?
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Before you plan, you need a mission and vision Mission: Organization’s purpose for being. Mission Statement : Statement expressing an organization’s purpose. Vision: Long-term goal of what an organization wants to become. Vision Statement: Statement expressing what an organization should become and where it wants to go.
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Walmart Mission: "Our mission is to enhance and integrate our supplier diversity programs into all of our procurement practices and to be an advocate for minority- and women-owned businesses."
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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 - Ch.5: Planning What is planning? Definition 1:...

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