Managerial Planning and Goal Setting

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Managerial Planning and Goal Setting CHAPTER 7. Copyright © 2008 by South-Western, a division of Thomson Learning. All rights reserved. 2 Learning Objectives.
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Presentation transcript:

Managerial Planning and Goal Setting Chapter 7 Managerial Planning and Goal Setting

Planning is Fundamental All of the other management functions stem from planning How do you plan for an undefined future? No plan is perfect Without plans and goals, organizations fail Flounder = struggle Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved.

Goals, Plans, Planning A goal is a desired future state that the organization attempts to realize PLANNING incorporates both ideas & means determining the goals and defining the means for achieving them. A plan is a blueprint for goal achievement and specifies the necessary resource allocations, schedules, tasks, and other actions

Goal Setting in Organizations Organizational Mission – the organization’s reason for existence Strategic goals – official goals, broad statements describing the organization’s future Strategic plans – define the action steps the company will take Goals should be aligned Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved.

Strategic Goals, Plan, Planning  Strategic goals - broad statements describing where the organization wants to be in the future. official goals; whole organization Strategic plans define the action steps by which the company intends to attain strategic goals. A strategic plan is a blueprint that defines organizational activities and resource allocations. Strategic planning tends to be long-term.

7.2 The Organizational Planning Process The overall planning process prevents managers from thinking merely in terms of day-to-day activities.

Tactical Goals, Plans  Tactical goals are the results that major divisions and departments within the organization intend to achieve; middle management; describe what major subunits must do in order for the organization to achieve strategic goals. Tactical plans define what major departments and organizational subunits will do to implement the organization’s strategic plan. They tend to be for a shorter time period. 

Operational Goals, Plans  Operational goals are the specific results expected from departments, work groups, and individuals. Operational plans are developed at the lower levels of the organization to specify action plans toward achieving operational goals and to support tactical plans.

7.1 Levels of Goals and Plans

Why Aligning Goals? Effectively designed organizational goals are aligned into a hierarchy in which the achievement of goals at lower levels permits the attainment of higher-level goals. Operational goals lead to the achievement of tactical goals, which lead to the attainment of strategic goals. Organizational performance is an outcome of how well these interdependent elements are aligned, so that individuals, teams, departments, and so forth are working in concert to attain specific goals that ultimately help the organization fulfill its mission.

Operational Planning Use operational goals to direct employees and resources Guide efficient and effective performance to achieve specific outcomes Includes planning approaches such as: Management by Objectives (MBO) Single-Use Plans Standing Plans

7.5 Criteria for Effective Goal Setting Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved.

7.6 Model of the MBO Process Defined in 1954 by Peter Drucker Method for defining and monitoring goals

7.7 MBO Benefits

Single-Use Plans vs. Standing Plans Achieve one-time goal Program/Project: building a headquarters, converting paper files to digital, renovating the office, setting up a new company intranet Standing Plans Ongoing plans Policies, rules, procedures

Benefits and Limitations of Planning Goals and plans provide a source of motivation and commitment Goals and plans guide resource allocation (budgeting) Goals and plans are a guide to action (specific targets) Goals and plans set a standard of performance Goals and plans can create a false sense of certainty Goals and plans may cause rigidity in a turbulent environment Goals and plans can get in the way of intuition and creativity

Planning for a Turbulent Environment Contingency Planning Planning for emergencies, setbacks, or unexpected conditions Building Scenarios A forecasting technique to look at current trends and visualize future possibilities Crisis Planning Sudden, devastating, unexpected events Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved.