4-BMGT Basics 3 .ppt

4-BMGT Basics 3 .ppt - – New markets to serve, new...

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BMGT 110 Introduction to Business Management BMGT Basics 3
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Agenda Objectives Planning Levels SWOT
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Management by Objectives (MBO) Objectives or goals should be SMART ! S pecific M easurable A ttainable R ealistic T ime bound
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Management by Objectives (MBO)
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Planning All plans must be coordinated across business and support top-level goals Each functional area has its own objectives and plans Sets goals and plan for achieving them
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Planning Levels Strategic (long term) Flow from the corporate mission Plan for achieving long-term objectives All factors are variable Horizon 2 to 10 years or more (2-5) Tactical (short term) Flow from strategic plan Plan for achieving short-term objectives Some factors are fixed Horizon 1 year or less
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Operational Flow from tactical plan Plan for achieving day-to-day objectives Nearly all factors are fixed Monthly, weekly, daily horizon Planning Levels
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Planning Examples Strategic decisions
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Unformatted text preview: – New markets to serve, new products & services – Mergers, acquisitions, restructuring – New business units – Change in type of ownership – Change in organizational structure Planning Examples • Tactical decisions – Allocation of assets and resources to specific products and services – Creation and staffing of new positions – Response to competitive actions – Budgeting decisions Planning Examples • Operational – Scheduling of labor and capacity – Daily and weekly workflow plans – Training schedules SWOT Analysis • Means of strategic analysis – S trengths – W eaknesses – O pportunities – T hreats SWOT Analysis STRENGTHS •Internal in nature • Positive now WEAKNESSES •Internal in nature • Negative now OPPORTUNITIES • External in nature • Positive in the Future THREATS • External in nature • Negative in the Future...
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This note was uploaded on 04/09/2012 for the course BMGT 110 taught by Professor Nelson during the Fall '08 term at Maryland.

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4-BMGT Basics 3 .ppt - – New markets to serve, new...

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