Management

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Planning is a formal expression of managerial intent. It describes what managers decide to do and how they will do it. It provides the framework, focus, and direction required for a meaningful effort. Without planning, any improvements in an organization's innovation, speed, quality, and cost will be accidental, if they occur at all.

Planning-the conscious, systematic process of making decisions about goals and activities that an individual, group, work unit, or organization will pursue in the future.

Similarities between decision making and planning-including the fact that both move not just in one direction but in a cycle.

Situational analysis-planners gather, interpret, and summarize all information relevant to the planning issue in question within their time and resource constraints

Goals-the targets or ends the manager wants to reach. To be effective, goals should have certain qualities, which are easy to remember with the acronym SMART

Specific-when goals are precise, describing particular behaviors and outcomes, employees can more easily determine whether they are working toward the goals Measurable-as much as possible, the goal should quantify the desired results, so that there is no doubt whether it has been achieved Attainable (but challenging)-employees need to recognize that they can attain the goals they are responsible for, or else they are likely to become discouraged Relevant-each goal should contribute to the organization's overall mission, while being consistent with it's values, including ethical standards. Goals are most likely to be relevant to the organization's overall objectives if they are consistent within and among work groups Time-bound-effective goals specify a target date for completion. Besides knowing what to do, employees should know when they need to deliver results

Plans-the actions or means the manager intends to use to achieve goals

Contingency plans-”what if” plans

Scenarios-the alternative generation, evaluation, and selection steps generated in some organizations

Scenario-a narrative that describes a particular set of future conditions

Tying plans to a firm's financials is a key element of success

Strategic planning-involves making decisions about the organization's long-term goals and strategies

Strategic planning-a set of procedures for making decisions about the organization's long-term goals and strategies

Strategic goals-major targets or end results that relate to the long-term survival, value, and growth, of the organization

Strategic goals-major targets or end results relating to the organization's long-term survival, value, and growth Strategy-a pattern of actions and resource allocations designed to achieve the organization's goals

Strategy-a pattern of actions and resource allocations designed to achieve the goals of the organization

Tactical planning-translates broad strategic goals and plans into specific goals and plans that are relevant to a definite portion of the organization, often a functional area like marketing or human resources

Tactical planning-a set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of the organization, such as a functional area like marketing

Operational planning-identifies the specific procedures and processes required at lower levels of the organization

Operational planning-the process of identifying the specific procedures and processes required at lower levels of the organization

Strategy map-one method for aligning the organization's strategic and operational goals, it provides a tool managers can use to communicate their strategic goals and enable members of the organization at every level to understand the parts they will play helping to achieve them

Learning and Growth Goals-Improved competence/skills of workforce, effective information/technology systems, supportive values and practices...
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