Management Chapter 4

Participatory planning

includes the persons who will be affected by plans and/or who will be asked to implement them.

Plans are formalized where situations are ____________ over time.

recurring

Long-range plans

usually cover three years or more.

Management Process

1. Planning - to set direction -Decide where you want to go -Decide how to best to go about it 2. Leading - to inspire effort 3. Controlling - to ensure results 4. Organizing - to create structure

_______________ identifies BEST practices used by other organizations.

Benchmarking

__________ are plans that commit resources to activities.

Budgets

_____________ planning creates backup plans for when things go wrong.

Contingency

_______________ planning involves others in the organization in the planning process.

Participatory

_____________ is one of the four functions of management.

Planning

ACTION ORIENTED

Planning gives us a results-driven sense of direction

CHANGE ORIENTED

Planning helps us anticipate and deal with problems and opportunities

PRIORITY ORIENTED

Planning highlights the most important things for our attention

ADVANTAGE ORIENTED

Planning makes sure that resources are used to best advantage

___________ bear on more tactical objectives.

Short-range plans

Planning Steps

Step 1. Define your objectives Know where you want to go; be specific enough to know you have arrived when you get there and how far off you are along the way. Step 2. Determine where you stand vis-à-vis objectives Know where you presently stand in reaching the objectives; identify strengths that work in your favor and weaknesses that can hold you back. Step 3. Develop premises regarding future conditions Generate alternative scenarios for what may happen; identify for each scenario things that may help or hinder progress toward your objectives. Step 4. Make a plan Choose the action alternative most likely to accomplish your objectives; describe what must be done to implement this course of action. Step 5. Implement the plan and evaluate results Take action; measure progress toward objectives as implementation proceeds; take corrective actions and revise the plan as needed.

Budget

a plan that commits resources to projects or activities.

Policy

a standing plan that communicates broad guidelines for decisions and action

Plan

a statement of intended means for accomplishing objectives.

Zero-based budget

allocates resources as if each budget were brand new.

Forecasting

attempts to predict the future.

Complacency trap

being lulled into inaction by current successes or failures.

vision

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

Planning improves _____________ and

coordination;control.

Managers provide employees with a sense of organizational

direction.

With scenario planning, managers consider __________ that can impact organization performance.

factors

Planning improves

focus and flexibility, action orientation, coordination and control, and time management.

Managers use ____________ to make informed guesses regarding what the future is going to look like.

forecasting

Contingency planning

identifies alternative courses of action to take when things go wrong.

Scenario planning

identifies alternative future scenarios and makes plans to deal with each.

Functional plan

identifies how different parts of an enterprise will contribute to accomplishing strategic plans.

Strategic plan

identifies long-term directions for the organization.

Hierarchy of objectives

lower-level objectives help to accomplish higher-level ones.

Best practices

methods that lead to superior performance.

Procedure

or rule precisely describes actions to take in specific situations.

Operational plan

or tactical plan sets out ways to implement a strategic plan.

Stretch goals

performance targets that we have to work extra hard and stretch to reach.

Organizational policies and procedures are types of

plans

Outcome goals

set targets for actual performance results.

Learning goals

set targets to create the knowledge and skills required for performance.

Planning is the process of

setting objectives.

Objectives

specific results that one wishes to achieve.

Big-picture objectives require managers to adopt a __________ mindset.

strategic

Planning

the process of setting performance objectives and determining how to accomplish them.

Planning can significantly improve

time management.

Planning fallacy

underestimating the time required to complete a task.

Benchmarking

uses external comparisons to gain insights for planning.

Short-range plans

usually cover a year or less.