4 Planning the process of determining the organizations objectives and deciding

4 planning the process of determining the

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Planning, the process of determining the organization’s objectives and deciding how to accomplish them, is the first function of management. Planning is a crucial activity, for it designs the map that lays the groundwork for the other functions. It involves forecasting events and determining the best course of action from a set of options or choices. The plan itself specifies what should be done, by whom, where, when, and how. But before an organization can plan a course of action, it must first determine what it wants to achieve. A mission or mission statement, is an organization’s fundamental purpose and basic philosophy. It seeks to answer the question: “What business are we in?” A well- developed mission statement, no matter what the industry or size of business, will answer five basic questions: 1. Who are we? 2. Who are our customers? 3. What is our operating philosophy (basic beliefs, values, ethics, etc.)? 4. What are our core competencies and competitive advantages? 5. What are our responsibilities with respect to being a good steward of environmental, financial, and human resources?
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Tactical plans are short range and designed to implement the activities and objectives specified in the strategic plan. These plans, which usually cover a period of one year or less, help keep the organization on the course established in the strategic plan. Because tactical plans allow the organization to react to changes in the
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  • Spring '14
  • BernardE.Imhoff
  • Management

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