Planning The Foundation of Successful Management

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Presentation transcript:

Planning The Foundation of Successful Management Chapter Five McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All Right Reserved

Planning & Uncertainty coping with uncertainty by formulating future courses of action to achieved specified results setting goals and deciding how to achieve them 5-2

Planning & Strategic Management Figure 5.1 5-3

Four Basic Strategies used by Organizations to respond to uncertainty Defenders Prospectors Analyzers Reactors 5-4

The Adaptive Cycle Adaptive Cycle businesses are continuously cycling through decisions about three kinds of business problems: (1) entrepreneurial, (2) engineering, and (3) administrative 5-5

Making Plans Figure 5.2 5-6

Mission & Vision Statements Mission statement expresses the purpose of the organization Vision statement long-term goal describing “what” an organization wants to become clear sense of the future and the actions needed to get there 5-7

Three Levels of Management, Three Types of Planning 5-8

Goals & Smart Goals, Action Plans & Operating Plans specific commitment to achieve a measurable result within a stated period of time also known as an objective strategic, tactical, operational 5-9

SMART Goals Specific Measurable Attainable Results-oriented Target dates 5-10

Goals & Smart Goals, Action Plans & Operating Plans defines the course of action needed to achieve the stated goal 5-11

Goals & Smart Goals, Action Plans & Operating Plans designed for a 1-year period defines how you conduct your business based on the action plan identifies clear targets such as revenue, cash flow, and market share 5-12

Standing Plans: Policies, Procedures, & Rules plans developed for activities that occur repeatedly over a period of time consist of policies, procedures, and rules. 5-13

Standing Plans: Policies, Procedures, & Rules Policy outlines the general response to a designated problem or situation Procedure outlines the response to a particular problem or circumstances Rule designates specific required action 5-14

The Planning/Control Cycle 5-15

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