The Planning Process There are 5 steps involved in the Planning Process:
1. Set Objectives Objectives must be: Specific Measurable Actionable (but challenging) Realistic Timely
“I want to lose 10lbs by Christmas.” 1. Set Objectives Example: “I want to get in shape.” “I want to lose weight.” “I want to lose 10lbs.” “I want to lose 10lbs by Christmas.”
1. Set Objectives Two types of corporate objectives: 1. Financial Objectives: “Decrease production costs of Nike Women’s apparel by 10% within the next 18 months.”
1. Set Objectives Two types of corporate objectives: 2. Strategic Objectives: “Enter one new international market with 10 Nike running shoe products within the next year.”
2. Where do you stand vs. your objectives? Evaluate your internal strengths and weaknesses. Nike’s strengths? Weaknesses?
3. Anticipate Future Conditions What could happen externally to help or hinder success?
4. Generate Alternative Plans How can we meet our objectives? Deal with a local retailer to carry Nike shoes Open a Nike store Buy a competitor
5. Implementation Choose the best plan and outline the steps as to how it will work. Plan: Open a Nike store Select a destination country Negotiate with government Select a location Purchase site Find building contractor…
The Planning Process Activity
Task: Teams will be given a number of pictures in a random order Task: Teams will be given a number of pictures in a random order. When arranged properly the pictures tell a distinct story.
Each group will have 5-10 minutes to: 1. Set SMART Objectives 2. Determine their team strengths and weaknesses 3. Think of at least 1 future condition that could help or hinder success 4. Write out how you will implement your plan of action
Once this plan is approved, the team will get their pictures and can begin arranging them. They can ask to have their pictures checked 4 times will be given a “correct” or “incorrect” answer. If they do not succeed in any of the 4 attempts then they are eliminated. The first team to correctly order the pictures wins.