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    Planning involves establishing goals and strategies to achieve a desired state. There are three types of plans: operational plans specify short-term actions, tactical plans implement strategic objectives usually within a year, and strategic plans establish long-range objectives. A manager plans by establishing objectives and premises, developing strategies and policies, coordinating plans, identifying issues, and setting schedules and budgets. Management by objectives is a philosophy where employees set their own objectives and goals to draw on their needs for achievement. Organizing is determining what tasks need to be done and who will be responsible to efficiently implement strategies.

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    Unit 4

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    Planning involves establishing goals and strategies to achieve a desired state. There are three types of plans: operational plans specify short-term actions, tactical plans implement strategic objectives usually within a year, and strategic plans establish long-range objectives. A manager plans by establishing objectives and premises, developing strategies and policies, coordinating plans, identifying issues, and setting schedules and budgets. Management by objectives is a philosophy where employees set their own objectives and goals to draw on their needs for achievement. Organizing is determining what tasks need to be done and who will be responsible to efficiently implement strategies.

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    4 views7 pages

    Planning: Definition: A Systematic Process of

    Uploaded by

    vaishramya
    Planning involves establishing goals and strategies to achieve a desired state. There are three types of plans: operational plans specify short-term actions, tactical plans implement strategic objectives usually within a year, and strategic plans establish long-range objectives. A manager plans by establishing objectives and premises, developing strategies and policies, coordinating plans, identifying issues, and setting schedules and budgets. Management by objectives is a philosophy where employees set their own objectives and goals to draw on their needs for achievement. Organizing is determining what tasks need to be done and who will be responsible to efficiently implement strategies.

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    of 7

    PLANNING

    Definition: A systematic process of reaching a desired state by establishing goals and formulating strategies to achieve them

    Planning involves selecting missions and objectives and the actions to achieve them. Planning precedes any other managerial function
    4/16/12

    Types of Plans

    Operatio nal Plans Tactic al Plans Strate gic Plans


    4/16/12

    Specify actions to achieve tactical plans (very shortDesigned to term) implement strategic objectives (usually one year or less) Establish longrange objectives

    How does a manager Plan?


    Establish objectives Determining planning premises Develop Strategies Establish policies

    Coordinate throughout the planning

    Develop program for accomplishments

    Develop preventive &/or contingent action Identify potential problems 4/16/12

    Establish schedules and budgets

    Establish procedures

    MANAGEMENT BY OBJECTIVES The concept is credited to Drucker and George S.Odiorne. The MBO is the central point of discussion in his book The practice of Mangement-writes : Management is not just a creature of the economy; it is a creator as well. And only to the extent to which it masters the economic circumstances, and alters them by conscious, directed action, does it really change. To manage business means, therefore, to 4/16/12 mange by objectives.

    MBO is a managerial philosophy and technique that attempts to draw on peoples needs for achievement, competence and anatomy by allowing them to set their objectives, goals, and performance criteria This concept applies to employees at any position The specialized work of the manager The hierarchy in organizations The existence of difference in vision in businesses
    4/16/12

    DECISION MAKING

    Set boundaries and limitations Define objectives Recognise limitations Varies from company to company

    4/16/12

    Organizing

    The process of structuring and coordinating an organizations resources to carry out the strategies formulated in the planning phase effectively and efficiently Stated simply, determining what needs to be done and who is to do it

    4/16/12

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