Chapter 5- Planning

Thursday, March 14, 2019 11:44 AM

• Planning- setting goals and deciding how to achieve

them. It is also defined as coping with uncertainty by
formulating future courses of action to achieve specified
results. (Setting goals and determining how best to achiev
them.)
• Plan- is a document that outlines how goals are going to
be met.
• A Business Plan- a document that outlines a proposed
firm’s goals, the strategy for achieving them, and the
standards for measuring success.
• Strategy- or what is known as a strategic plan, sets the
long-term goals and direction for an organization.
○ There are lots of reasons to plan
§ Time
§ Check your progress
 Assignment: All about you
Tell him your mission in life, Why do you exsist,
Your vision, where do you want to go, what do you want to be
ve 3 values that anchor your mission and vision in life.
A good mission is saying what is different about you, what ma
you stand out.
An operational plan- day to day, week to week
Tactical plan- Year goal
Strategic plan- 5 year goal
Everything should tie together.
Due: April 2nd

Exam is Thursday March 28th when we come back from spri

break and he is reducing the exam to 2 chapters.
Chapters in the exam:
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○ There are lots of reasons to plan
§ Time
§ Check your progress
§ Allows you to coordinate activities
§ Helps you think ahead
§ Uncertainty
○ Planning creates rigidity
○ 4 Group of planners
§ Defenders-
□ Do what we best and avoid other options.
§ Prospectors- coming up with new products in a
new market
□ We create our own opportunities.
§ Analyzers- Let other people dive in to the pool, le
other people take that risk, we will follow whoever
is in the market.
§ Reactors- We will wait till a major catastrophe
before we do something
○ 3 kinds of problems of Adaptive cycle concept
 break and he is reducing the exam to 2 chapters.
Chapters in the exam:
Chapter 4 Global Management
Chapter 5 Planning

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 § Reactors- We will wait till a major catastrophe
before we do something
○ 3 kinds of problems of Adaptive cycle concept
§ Entrepreneur- Looking a new products new marke
to keep everything fresh,
§ Engineering-
§ Administrative- Establish roles relationships and
processes.
• Fundamentals of planning
○ Mission Statement- What is the reason this
organization exists? The purpose of the organization.
○ Vision Statement- What do we want to become? Wher
do we want to go? What is the vision. What we want
to become.
○ Planning is how you get where you want to go and
what you want to be.
○ 3 types of planning
§ Strategic- Planning to the next 1-5 years, Long ter
goals.
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 § Strategic- Planning to the next 1-5 years, Long ter
goals.
□ Upper Managers
§ Tactical- usually a year to 18 months out, Looks at
different work units and resources in the next 2
years.
□ Middle Managers
§ Operational planning- accomplishing tasks one or
two weeks out.
□ Lower level Managers
○ Standing plan- a plan that is developed for activities
that happen repeatedly.
○ Single use plan- something comes up that prevents th
standing plan to occur.
• Planning has to do with goals, you can reach this goals by
○ Policy-
○ Procedure- a response to problems.
○ Rule-
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 ○ Procedure- a response to problems.
○ Rule-
• Policies, procedures, and Rules create democracy.
• Single us planning can be one of two things:
○ Program- Encorages a
○ Project- only
• Goal setting-