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B&S4StudentVersion - Chapter Four Planning and...

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Chapter Four Planning and Strategic Management
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An Overview Of Planning Fundamentals (p. 126) Planning the conscious, systematic process of making decisions about goals and activities that will be pursued in the future planning entails: future goals – targets or ends that management desires to reach effectiveness activities – blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals efficiency Blake & Mouton - planning is the second leading cause of managerial problems Importance of formal planning
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Payoff from Planning Profitability Years Informal Planners Formal Planners Importance of formal planning (cont.) An Overview Of Planning Fundamentals (cont.)
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Specific Formal Planning Steps – Figure 4.1 (p. 127) Identifying and diagnosing the problem Generating alternative solutions Evaluating alternatives Making the choice Implementation Evaluation Decision Making Stages Situational analysis Alternative goals and plans Goal and plan evaluation Goal and plan selection Implementation Monitor and control Planning Stages
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The Basic Planning Process Step 2: Alternative goals and plans (p. 127) important characteristics of goals R elevant – contributes to organizational goals T ime-bound defined time period S pecific – precisely describe particular behaviors/outcomes M easurable – desired results are quantifiable A ttainable – challenging but realistic
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The Basic Planning Process (cont.) Step 2: Alternative goals and plans (cont.) plans – the actions or means managers intend to use to achieve organizational goals (p. 128) single-use plans - designed to achieve a set of goals that are not likely to be repeated in the future specificity standing plans – focus on ongoing activities designed to achieve an enduring set of goals policies - general guide that provides broad parameters within which organization members are expected to operate in pursuit of organizational goals procedures - prescribed series of related steps to be taken under certain recurring circumstances rules - statement that spells out specific actions that must or must not be taken in a given situation contingency plans – “what if” plans implemented when initial plans have not worked well or circumstances have changed
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Levels of Planning (p. 130) Strategic planning set of procedures for making decisions about the organization’s long- term goals and strategies strategic goals major targets or end results relating to the organization’s long- term survival, value, and growth pertain to the organization as a whole rather than to specific divisions or departments strategy action steps by which an organization intends to attain strategic goals should address the following issues match organization’s strengths with environmental opportunities identify sources and availability of financial resources reach a shared understanding of priorities allocate resources appropriately
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Levels of Planning (cont.) Tactical plans
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This note was uploaded on 02/16/2012 for the course BUSINESS 300 taught by Professor Daniels during the Spring '10 term at Rutgers.

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B&S4StudentVersion - Chapter Four Planning and...

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