Plans and Planning Tools

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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 sales people...
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