McGraw-Hill/Irwin © 2009 The McGraw-Hill Companies, All Rights Reserved Chapter Five Planning The Foundation of Successful Management.

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McGraw-Hill/Irwin © 2009 The McGraw-Hill Companies, All Rights Reserved Chapter Five Planning The Foundation of Successful Management

5-2 Planning & Uncertainty Planning  coping with uncertainty by formulating future courses of action to achieved specified results

5-3 Planning & Strategic Management Figure 5.1

5-4 How Planning Helps You 1.Helps you check on your progress 2.Helps you coordinate activities 3.Helps you think ahead 4.Helps you cope with uncertainty

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

5-6 Making Plans Figure 5.2

5-7 Three Types of Planning for Three Levels of Management Strategic planning  determine what the organization’s long- term goals should be for the next 1-5 years with the resources they expect to have available

5-8 Three Types of Planning for Three Levels of Management Tactical planning  determine what contributions their departments can make during the next months

5-9 Three Types of Planning for Three Levels of Management Operational planning  how to accomplish specific tasks within the next 1-52 weeks

5-10 Goals, Action Plans, & Operating Plans Goals  specific commitment to achieve a measurable result within a stated period of time  also known as an objective  strategic, tactical, operational

5-11 What Is MBO? 1.Jointly set objectives 2.Develop action plan 3.Periodically review performance 4.Give performance appraisal and rewards, if any

5-12 Setting SMART Goals Specific Measurable Attainable Results-oriented Target dates

5-13 The Planning/Control Cycle Figure 5.5

5-14 Project Planning Project management  achieving a set of goals through planning, scheduling, and maintaining progress of the activities that comprise the project

5-15 The Project Life Cycle Figure 5.6