MGT 305 Chapter 8:Planning Process and Techniques

planing
the process of setting objectives and determining how to accomplish them., setting a direction.
organizing
allocating and arranging resources to accomplish tasks
controlling
monitoring task accomplishments and taking necessary corrective action.
objectives and goals
specific results one wishes to achieve
stretch goals
performance targets that we have to work extra hard and stretch to reach
plan
is a statement of intended means for accomplishing objectives; is a set of intended actions for accomplish important goals and objectives and how to implement them,
Five steps in Planing Process
1. Define your objectives and goals.
2. Determine where you stand vis-a-vis(face to face) objectives…know your strengths and weakneses
3.Develop premises or ideas for future events.
4. identify and choose among alternative ways of accomplishing objectives; analyze alternatives and make plan
5. implement plan and evaluate results.
Good planning
4 keys things to remember:
action oriented- keeping results-driven sense of direction
advantage oriented-ensuring that all resources are used to best advantage
priority oriented- making sure the most important things get first attention
change oriented-anticipating problems and opportunities so they can be dealt with.
also helps avoid complacency trap
Benefits of Planning
1. better focus and Flexbility
2.Improves Action Orientation(avoid complacency trap)
3. Improves coordination, control, and time management
Complacency trap
being carried away by flow of events, staying away from main priorities…..(which is very bad, you want to avoid this!!!)
must practice good planning:
action oriented
change oriented
advantage oriented
priority oriented
Long-range plans
extend up to three yrs or more into the future(top managment)
short-range plans
tend to cover a year or less into the future(lower level managment)
Elliot Jacques
Believes that people most likely like to work within 3 mos. spans, small group of ppl enjoy working within 1 yr….rare ppl work w 20 yrs span
Strategic Plans
identifies long-term directions for the organization; sets critical long-range directions; allocating resources for maximum performance impact (Top managers) also dy
Vission
clarifies the purpose of the organization and expresses what it hopes to be in the future.
tactical plan
helps to implement all or parts of a strategic plan; like back up for strategic plan
functional plans
indicate how different operations within the organization will help advance the overall strategy.
operational plan
identifies short term activities to implement strategic plans; they include standing plans like policy and procedures that are used over and over again, and single-use plans like budgets that apply to one specific task or time period.
policy
such as sexual harassment policy, are plans se guidelines for behavior of organizational members; communicates broad guidelines for making decisions and taking action into specific circumstances.(standing plan)
procedure and rules
are plans that describe actions to be taken in specific situations, such as the steps to be taken when persons believe they have been subjected to sexual harassment; are to be implemented for specific situations…..SOPs (standard operating Procedures)
budgets
are plans that allocate resources to activities or projects. is a plan that commits resources to projects or activities. are single use plans that are used for a specific task or time to activities, projects and programs.
4 types: financial budgets- cash flows
operating budgets- plot aticipated sales or rev against exp
nonmonteray budget- allocate resources, labor, work..etc.
fixed budget- a certain amount in the year
flexable budget- allow to vary
zero-based budget
allocates resources as if each budget were brand new; starting from a clean base, new budget period.
Planning tools and techniques
Forecastig
Contigency planning
sceario planning
bechmarking
use of staff planners
Forecasting
which attempts to predict what might happen in the future, is planning aid but not a planning substitute; predicting in the future.
qualititaive analysis- uses expert opinion
quantitive anaylysis- uses historical data or mathematical models.
contingecy planning
identifies alternative courses of action that can be implemented if and when circumtances changes; alternative courses of action to take when things go wrong,….back up plans
scenario planninng
identifies alternative future scenarios and makes plans to deal with each.
planning alternative courses when things go wrong in the future. has worst case and best case scenario. is long term contingecy
Bechmarking (swot)
uses external and internal comparisons to plan for the future improvements. Internal – encourages members and work units to learn and improve by sharing one another’s best practices. External learn from competitors and non-competitors alike.
staff planners
assist in all steps of planning process; with special expertise are often used to assist in planning process, but the risk is a lack of involvement by managers and others who must implement plans.
Implement changes
goal setting
goal alignment
participation and involvment
Goal setting
increase market shares AND meet earnings estimates

Goals must be GREAT!!!!!!!
1 specific – desired outcomes, clear to anyone
2. timely linked “due dates”, and timetable
3. measurable- (most difficult) no doubt when accomplishe or missed
4. Challeging- include “stretch” focused on doing better
5. attainable- realistic goals, possible to accomplish

hierarchy of goals or objectives
lower levels goals and objectives are means to accomplishing higher levels ones.

Team leaders ad team managment MUST work together.

goal alignment between Team leader and team member
jointly plan: set objectives, set standards, choose actions

jointly control: review results,
discuss implementation, renew cycle
individually set: perform tasks ( member), provide support (leader)

Managment by Objectives
the goal alignment plan by team leader and team memeber
measurable end product
exact amount or agreement during the end of a fiscal period. can’t guarantee for eg. that by the end of the year sales revenue will go up by 6%.
verifiable work coditions
instead of just abandoning something bc it doesn’t meet the measurable end product, it could be used as indicator or performance or progressing. ex: we will try that meet ends that sales revenue will rise by atleast 6%.
Participatory planning
includes the person who will be affected by plans and/ or those who will implement them.
Planning is the process of —- and —-.
Setting objectives, deciding how to accomplish them
the benefits of planning include ——.
improve focus
In order to help implement its corporate strategy, business firm would likely develop a (an) ——plan for the marketing department.
functional
——- planning identifies alternative courses of action that can be taken if and when certain situation arise.
contingency
the first step in the control process is to ——.
establish objectives and standards
A sexual harassment policy is an example of ——– plans used by organizations.
standing-use
when a manager is asked to justify a new budget proposal on the basis of projected activities rather than past practices, this is an example of ——— budgeting.
Zero-based
one of the benefits of participatory planning is ———.
more commitment to implementation
the ideal situation in a hierarchy of objectives is that lower level plans become the ——- for accomplishing higher-level plans.
means
when managers use the benchmarking approach to planning, they ——.
identify best practices used by others
one of the problems in relying too much on staff planners is ————-.
a communication gap between planners and implementers
the planning process isn’t complete until ———–.
plans are implemented and results evaluated.
when a team leader is trying to follow an approach known as management by objectives, who should set a team member’s performance objectives.
the team leader and team member
a good performance objective is written in such a way that it ———.
can be easily measured
which type of plan is used to guide resource allocations for long-term advancement of the organization’s misssion or purpose?
strategic
Personal time Management Tips
1. Do say “no ” to requests that divert you really should be doing; 2. Don’t get bogged down in details that you can address later or leave for others; 3. Do have a system for screening telephone calls, e-mails, and requests for meetings; 4. Don’t let drop in visitors or instant messages use too much of your time; 5. Do prioritize what you will work on in terms of importance and urgency. 6. Don’t become calendar-bound by letting others control your schedule; 7. Do follow priorities and work on the most important and urgent tasks first.
Best practices
are things people and organizations do that lead to superior performance.