Management

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