Plans and Planning Tools

Plan A specific action proposed to help the organization achieve its objectives. Four major dimensions of a plan: Repetitiveness Time Scope Level Four major Dimensions of a plan: Repetitiveness The extent to which the plan is used over and over again. Time The length of time a plan covers; long-term vs. short-term. Scope The portion of the total management system at which the plan is aimed. Ex: HR Hiring plan vs. Corporate Quality plan. Level The level of the organization at which the plan is aimed. Ex: Top level plans vs. middle-management plans. Types of plans Standing plans Are used over and over again because they focus on organizational situations that occur repeatedly. Single-use Plans Are used only one ( mostly) because they focus on unique or rare situations within the organization. Standing plans Policies Provides broad guidelines for achieving corporate objectives. Ex: Dress Codes. Procedures Series of related actions needed to accomplish a particular task. Ex: Work Instructions. Rules Designates specific required action. Ex: No Smoking. Single use plans Program A single use plan designed to carry out a special project within an organization Ex: Talent Management Budget Single-use financial plan that covers a specific length of time Planning tools Forecasting The process of predicting future environmental happening that will influence the operation of the organization Types of forecasting Qualitative Methods Jury of Executive opinion method Various experts within the company exchange info regarding what they believe will happen Sales Force Estimation Method Sales forecasting technique that predicts future sales by analyzing the opinions of