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lecture chp 4a - I2/21/2012 Chapter Four Planning and...

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Unformatted text preview: I2/21/2012 Chapter Four Planning and Strategic Management An Overview Of Planning Fundamentals (p. 126) Planning I the conscious, systematic process of making decisions about goals and activities that will be pursued in the future - planning entails: a future Igoals — targets or ends that management desires to reach Iefl'ettiveness Iactivities — blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals quficiency Importance of formal planning - Blake & Mouton - planning is the second leading cause of managerial problems An Overview Of Planning Fundamentals (cont.) Importance of formal planning (cont) m Payoff from Planning Profitability .._..___,_ .WVW WV.- I2/21/201 Specific Formal Flaming Steps — Figure 4.1 (p. 127) Decision Making Stages Planning Stages 0 Qfiyi C a wok axon—mag -’/ (low mi (Oh Lfit) S~ (itl'viz'iLD " 01/5 0% .In // ’ wWiC/V‘m: .4 i I ‘ I‘ . ' ‘ WIDMJfiV/AWMWAQQDM G‘XUUi'LDI/hzis Mu. nbsaggncsfs of W ex+ ma! wvivomrma/m . MOMMA/L9 0,;gu/rry-iiow9, )SSUIS/ a pmHaV/ns, The Basic Planning Process Step 2: Alternative goals and plans (p. 127) K lflwég’gé 50655 //2 H3 {Fa/L "Pl—or) Le (a M (‘6' i - important characteristics of goals § MA 0/1“ r ‘ W/l/w4/IAH a I§pecific—precisely describe particularbehaviors/outcomes _ > I 0 U n C ‘ _ e - ,. <0 'nuzafi I “F1 m M , l V 2 WW ‘ "‘9 Measurable desued results are quantifiable . /0 I I“ )413. ‘i/W’. “I IAnainable« challen ‘ b ' ' .- b/ _ gmg ut realistic . 41; W0 Va 9 06‘ i Istretch objectives \/ D 6’ 5 x D W -_Re1evant — contributes to organizational goals i3 3; If) ‘ / l I I A ({fiU/I no 0 I Iime—bound— defined time period V6” // v (A) If) C (mm {Anal/{’5 i/Z/WnLMO‘“! we’d”; wk” IVZSOUf/L’Cg Vial U‘V¢,0L @w 9 001/5 , :l- @bsiédzg Th Basic Planning Pro ' ess (cont.) Step 2: Alternative goals and plans (cont.) I plans — the actions or means managers intend to use to achieve organizational goals (p. 128) - single-useplans - designed to achieve a set of goals that are not likely to be repeated in the future Istanding plans — focus on ongoing activities designed to achieve an enduring set of goals Ipalicies - general guide that provides broad parameters within which organization members are expected to opera in pursuit of organizational goals Iprocedures - prescribed series of related steps to be taken under certain recurring circumstances Irules - statement that spells out specific actions that must or must not be taken in a given situation ncontingency plans —— “what it” plans «3 g / I I , [Ca fry ,' no. limplemented when initial plans have not worked well or circumstances have changed “ ~ mgr/Ova {o mania ingfM/ u war/Mot 5vv-C (i0- m :3 boo/qu A} {VI/\rllou {’S il/VtDL/u W‘VIQ-i‘ +0 d taiSO {fr comm/10v. 3,+L¢.,L;0m, snows '0l/i/M5 «Q‘lz . . ._ specifich— OMSWW 9 7.‘ 3 / owml Wu 1 web/c aim/e L) Haw M “We Wwvmm. 5 HOW .2/21/2012 WI.” Wfl Myfl +MWV1LeirP/01C2 1/1) Howdfirgi will #4 m v.6 J/ivx Who-ly4V‘0/“(Q WfllMM,WWM%WWM%SlQSfMWbmHLM€Obflimflmamdqlmfimfiz W thqftr high 1/01/14 " Levels of Planning (p. 130) _ Strategic planning 3 v .1 ‘4 t’ S ‘ . i { C. (a h S VIC I set of procedures for making decisions about the organization’s long— I ' 3 , term goals and strategies Istrategicgoals ’ (UM V [/m II \/ I major targets or end results relating to the organization’s long- terrn survrval, value, and growth _ , _ - . p I pertain to the organization as a whole rather than to specific i L S X. ( ) K g g m L c Ex ‘6 Q . [@70’7gl} (Q divisions or departments “W V.nL aw mfg/pm I action steps by which an organization intends to attain strategic goals ‘ 1 I should address the followingissues d i —’L V ’ I match organization’s strengths with environmental ‘ W W l , V ) ) ' 6 M7! I {7 opportunities I identify sources and availability of financial resources I V] l l I reach a shared understanding of priorities V Ll—WVL47——7 I allocate resources appropriately -Ww w m eskgoa/H/kmL refled I fjffpc4,\,é.mgsak€744uuzm/ ~t>2c eimhgic 300 15— firm/W I 7‘WHW'9hWfl impvowe fro aha/51a Ital/\Lk aoai§ Jr ’9(al,\$éoM l-kwch/VX CtS wdoi’il/mAA/F/aznw'nzdo/w ‘d W (moi WI Much/(MSW ' r '3 V V Q mfi‘m 1;“ Levels of Planning (cont.) h F. )4/ / I (gym/Va Jacfical plans ( " 2, t1 5’ S V w I . .// ff ' 4 1.6 I A My; ,4 SW I procedures for translating broad strategic goals and plans into , “AAA (3‘ “'4‘? specific goals and plans that are relevant to a distinct portion of the '1 10,45, organization, such as a functional area like marketing )\’\ 6011 I tactical goals — define the outcomes that major divisions must r A > achieve in order for the organization to reach its overall goals ’ ‘ __ 0 erational [ans «1 J44 g x t I q H P P W m o , ‘R \m // I process of identifying the specific procedures and processes required I iv I 1 0| /7L t C p at lower levels of the organization )4?th V11 46$ '6 S I operational goals — specific, measurable results expected from departments, work groups, and individuals within the organization Goal alignment I Strategic, tactical, and operational goals and plans must be consistent, mutually supportive, and focus on achieving the common purpose anddirection ~ v ‘HbS‘l’VGi‘heSL gLH/g 0+ IFS rut/Par). +0 if 'i 40 ‘YDw'fLéOi'hZ§{‘/f€54'zvly J ii’rliflflmappyowsvg ;){}th//+"11‘0 (ii-1% Va.le +1, Lusivmws M\ obi/dink: 5&«Dw 55. V’ 3' (aviwo‘wmfity CQMMMVCjW’S [my] th/S‘ifihd Gil/7‘5 +Nt4/I/ Pkli) rm" I I7 . flack/WgJ/l/W. Alignment 0f Goals Strategic Goals («Ml/3 Com ETITWx? ‘ 1 igure. p. Strategic management — involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies Igoal is to identify, create, and sustain com titive advantage Iconsistently gain greater profits than competitors Strategic Management Process Step 1: Establishment of Mission, Vision, and Goals - - Imissian - organization‘s reason for existence — raison d ’etre I articulates the fundamental purpose of the organization Istmtegic vision - the long-temt direction and strategic intent of a ‘~ company Step 2: Analysis of external opportunities and threats Istakeholders — groups and individuals who affect and are affected by the achievement of the organization's mission, goals, and strategies . limportance of forecasting Isee Table 4,] lexamine competitive environment (industry and competitor analysis) lexamine macroenvironment (political and regulatory, social, human resources economic and technolo'cal Strategic Management Process (cont) Step 3: Analysis of internal strengths and weaknesses lcore competence (p. 141) - a unique skill and/or knowledge an organization possesses that gives it an edge over competitors linterrelated sets of activities that deliver competitive advantages in the short-term and long-term lprovides access to a wide variety of markets Isignificantly contributes to perceived customer benefits of the end products or services (i.e., value) Iresource is rare and not readily available to competitors Iis difficnlt for competitors to imitate mm wadilv‘ ammo +0 ctmyrjihhs ill COM“) Wrflr may; .1903}, H5 I hi‘EJMljloiO/S 1%3L0i’0lfl lag}, ~ Cove. WWW/h Ce is mms‘wemgs Ton! calf/v .__/‘ - mm 2 A5 CC l[—=—“——: . ova/VIA Gr i? all (Dn Wali’ bow/e, (/uSi’UWW/‘Yk 0 in Wm. parks ~:7 ‘{ (/i /o I £41.. 9pm)th l2/21/201 M5] iCuAJM mow; ...
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lecture chp 4a - I2/21/2012 Chapter Four Planning and...

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