Katz Management Chapter 8 Terms

planning process

- define objectives - determine where you stand - develop premises - analyze alternatives and make a plan - implement the plan

Benefits of Planning

Improves 1: focus & flexibility 2: action orientation 3: coordination & control 4: time management

Attainable

Realistic, possible to accomplish

Setting SMART goals

Specific Measurable Attainable Realistic Timely

organizing

To create structure

controlling

To ensuring results

leading

To inspiring effort

Planning

To set the direction

budgets

a plan that commits resources to projects or activities

procedure

a rule describing actions that are to be take in specific situations

policies

a standing plan that communicates broad guidelines for decisions and actions

plan

a statement of intended means for accomplishing objectives

zero based budget

allocates resources as if each budget were brand new

forecasting

attempting to predict the future with qualitive and quantitative analysis. Often, use mathematical models and historical data

complacency trap

being carried along by the flow of events

vision

clarifies the purpose of the organization and expresses what it hopes to be in the future

Specific

desired outcomes clear to everyone

Realistic/Challenging

focused on doing better

tactical plan

helps to implement all or parts of a strategic plan

contingency planning

identifies alternative courses of action to take when things go wrong, anticipate changing conditions, contain trigger points

strategic plan

identifies long term directions for the organization

operational plan

identifies short term activities to implement strategic plans

objectives/goals

identify the specific results or desired outcomes that one intends to achieve

participatory planning

includes the persons who will be affected by plans and or those who will implement them

functional plans

indicate how different operations within the organization will help advance the overall strategy

Timely

like to due date and timetable

scenario planning

long term contingency planning, identify alternative future scenarios, plans made for each future scenario, increases organizations flexibility and preparation for future shocks.

Hierarchy of goals

lower-level goals and objectives support accomplishments of higher level goals and objectives

Measurable

no doubt when accomplished or missed

stretch goals

performance targets that one must work extra hard and stretch to reach

outcome goals

set targets for actual performance results

learning goals

set targets to create the knowledge and skills required for performance

planning

the process of setting objectives and determining how to accomplish them

best practices

things people and organizations do that lead to superior performance

short term plans

typically cover one year or less

long term plans

typically look three or more years into the future

benchmarking

uses external and internal comparisons to plan for future improvements, adopting best practices, staff planners assist in all steps of the planning process