Chapter 5 Power Point

Chapter 5 Power Point - MGT 3303 Management of...

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Unformatted text preview: MGT 3303 Management of Organizations Chapter 5 Planning & Decision Making 1 Planning Goals Planning & decision making Rational decision making Group decision making 2 Outline of lecture 3 Planning: A definition Choosing a goal and developing a strategy to achieve that goal! Planning: Benefits & pitfalls Benefits Pitfalls Directs energies Encourages persistence Requires strong effort Forces creation of strategies to accomplish goals Gives false sense of security Impedes change & adaptation Planners too removed from implementation .they miss or underestimate key details 4 5 Is there always, or even usually, a single best plan of action? 6 Good planning includes Set Goals Develop Commitment Develop Effective Action Plans Track Progress Toward Goal Achievement Maintain Flexibility Revise existing plan or Begin new planning process 7 Do you have a career plan? Major? Career outline? 8 Planning by managerial level First-Level Managers Middle Managers Top Managers 9 Types of operational plans Single-Use Plans Cover unique, one-time-only events e.g., how to deal with plant explosion Standing Plans Used repeatedly to handle frequently recurring events. e.g., policies & procedures for dealing with late customer payments Budgets Quantitative planning to decide how to allocate money to accomplish company goals e.g., R&D or advertising By 2011: Begin labeling all products with the environmental costs that went into their production. Similar to a sustainability index that measures how much each product contributed to global warming or if the product uses wood in ways that deplete natural stocks, etc....
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This note was uploaded on 11/09/2011 for the course PSY 1310 taught by Professor Brown during the Spring '07 term at Texas State.

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Chapter 5 Power Point - MGT 3303 Management of...

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