Chapter_4_-_Planning - Chapter 4 Planning and Strategic...

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Chapter 4 Planning and Strategic Management MNGT 215 Dr. Haitham Khoury [email protected] Ext. 3778 Room 369 - OSB
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An Overview of Planning Fundamentals Planning Plans are the conscious, systematic process of decisions about goals and activities that an individual, work unit, or organization will pursue in the future A decision process in which you decide what to do and how to do it Various types of plans: Single-use Standing Contingency plans
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Types of Plans Single-use plans Designed to achieve a set of goals that are not likely to be repeated in the future E.g. parade, festivities, speeches Standing plans Focus on ongoing activities designed to achieve an enduring set of goals E.g. HR recruiting efforts Can become permanent policies and rules Contingency plans Actions to be taken when a company’s initial plans have not worked or require sudden change E.g. ‘what if’ plans to manage disasters, war, etc
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The Planning Process
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Hierarchy of Goals and Plans
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Strategic Planning Strategy: A pattern of actions and resource allocations designed to achieve the organization’s goals Match organization’s skills and resources to opportunities Build on strengths of the organization Strategic planning: A set of procedures for making decisions about the organization’s long-term survival Senior executives responsible for development and overseeing execution Strategic goals: Major targets or end results relating to the
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This note was uploaded on 03/22/2012 for the course FINA 210 taught by Professor Dakroub during the Spring '12 term at American University in Cairo.

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Chapter_4_-_Planning - Chapter 4 Planning and Strategic...

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