10-1 What is the Planning Process

10-1 What is the Planning Process - Management Talk •...

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Unformatted text preview: Management Talk • “I see a future extending far longer than the twenty-five years Starbucks has lived so far. In annual strategic planning sessions, our senior management team has been refining [our] vision to make sure it is both audacious and achievable. The company we envision is a great, enduring one, still zealous about its mission of bringing great coffee to everyone everywhere.” – Howard Schultz, Starbucks Chairman and CEO What is the Planning Process? 10.1 Why Plan? • Key executives in every company spend a considerable amount of time planning – Important to the success of the company! • Planning is the process that businesses use to decide the company’s goals for the future and ways to achieve those goals Why Plan? • Planning prepares managers and businesses to meet the challenges of economic, social, technological, and political changes • Plans allow businesses to prepare for the future Effective Planning • Everything that an effective manager does involves planning! • Effective planners encourage employees from all areas to participate in plan development – Good suggestions can come from any level of management – Employees have a better understanding of the company’s overall direction – Employees feel they are part of the process and become committed to the plan – Positive participation and pro-company attitudes improve morale and loyalty to the organization Effective Planning • Gives managers experience and knowledge in understanding the forces that affect a company’s operations – From new technologies to changes in tax laws • The best managers use a combination of...
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This note was uploaded on 01/13/2012 for the course BUS M 201 taught by Professor Mcgregor during the Fall '11 term at BYU.

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10-1 What is the Planning Process - Management Talk •...

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