1. Introduction to Management
Welcome to MT140
Introduction to Management
Unit 3 Seminar
Planning

2. Agenda General Questions and Announcements Introduction
Levels of Planning
Mission
Strategic Vision
Recap
Unit 3 Assignment Q & A
Conclusion of Seminar

3. Introduction In Unit 3, we are considering:
That planning is one of the four primary functions of management.
That planning involves a systematic process of making decisions about goals and activities that will be carried out by individuals, groups, and the organization.
That successful management depends on an accurate and thorough evaluation of the organization's environment.

4. The Basic Planning Process
Step 1 Situational Analysis
Step 2 Alternative Goals and Plans
Step 3 Goal and Plan Evaluation
Step 4 Goal and Plan Selection
Step 5 Implementation
Step 6 Monitor and Control

5. Situational Analysis
Situational analysis
A process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration.

6. Generating Alternative Goals and Plans
Should stress creativity and encourage managers and employees to think in broad terms about their jobs
Goal
A target or end that management desires to reach
Specific, measurable, attainable, relevant, time-bound - SMART

7. Alternative Goals and Plans
The actions or means managers intend to use to achieve organizational goals
Contingency plans
sets of actions to be taken when a company’s initial plans have not worked well or if events in the external environment require a sudden change

8. Strategic Planning Strategic planning Strategic goals
A set of procedures for making decisions about the organization’s long-term goals and strategies
Strategic goals
major targets or end results that relate to the long-term survival, value, and growth of the organization.

9. Strategic Planning Strategy
A pattern of actions and resource allocations designed to achieve the organization’s goals
Where will we be active?
How will we get there?
How will we win in the marketplace?
How fast will we move and in what sequence will we make changes?
How will we obtain financial returns

10. Hierarchy of Goals and Plans
Figure 4.2

11. Tactical and Operational Planning
Tactical planning
A set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of the organization, such as a functional area like marketing.

12. Tactical and Operational Planning
The process of identifying the specific procedures and processes required at lower levels of the organization.

13. Strategic Planning
Strategic management
A process that involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies.

14. The Strategic Management Process
Figure 4.3

15. Establishment of Mission, Vision, and Goals
An organization’s basic purpose and scope of operations.

16. SWOT Analysis and Strategy Formulation
Corporate strategy
The set of businesses, markets, or industries in which an organization competes and the distribution of resources among those entities
Concentration
A strategy employed for an organization that operates a single business and competes in a single industry.

17. SWOT Analysis and Strategy Formulation
A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy.

18. Analysis of External Opportunities and Threats
Stakeholders
Groups and individuals who affect and are affected by the achievement of the organization’s mission, goals, and strategies

19. Analysis of Internal Strengths and Weaknesses
Benchmarking
process of assessing how well one company’s basic functions and skills compare with those of another company or set of companies.
goal of benchmarking is to thoroughly understand the “best practices” of other firms and to undertake actions to achieve both better performance and lower costs

20. SWOT Analysis and Strategy Formulation
Low-cost strategy
A strategy an organization uses to build competitive advantage by being efficient and offering a standard, no-frills product
Differentiation strategy
A strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions

21. Assignment Questions
There are 3 graded assignments in Unit 3. They are:
Discussion Board: You are introduced as part of your reading assignment to the business case study, Sandwich Blitz, Inc. which we will continue to consider at various times throughout this course.
Refer back to the description of the company and to your reading on “Levels of Planning”
After completing the readings, in your judgment, what are some considerations that Dalman and Lei must have at each of the three levels (strategic, tactical, and operational) of planning for Sandwich Blitz, Inc?
Be sure to address each of the three levels.

22. Dropbox Assignment
…paraphrasing
After reading the scenario about Dalman and Lei and the readings for Unit 3, what do you think are the strengths, weaknesses, opportunities, and threats (SWOT) that the business faces if Dalman and Lei commit to a large-scale expansion of their business?
Be sure to identify at least one strength, one weakness, one opportunity, and one threat that apply to the scenario.

23. Review
Don’t forget that you can take the Review as often as you need to during the Unit Week prior to the Tuesday midnight deadline until you get the score that you desire.

24. Thank You for Attending!
This concludes our seminar for Unit 3. I appreciate your taking the time out to join me and to invest in the concepts.