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Samar, Justin Matthew C.

4A Pharmacy

FACTORS IN DECIDING MEANINGFUL OBJECTIVE 1. Review of past performance 2. Setting realistic objectives 3. Stating specific objectives in measurable and quantifiable terms 4. Upgrading periodically the objectives 5. Ownership in setting objectives by employees 6. Clear communication of objectives to all concerned

DEFINITION OF POLICIES A plan of action or a way of management to ensure a uniform and consistent manner of handling basic management problems

6 STEPS IN PROGRAMMING 1. Review objectives 2. Determine major steps 3. Establish correct priorities 4. Systematically set schedule 5. Determine detailed steps on what tasks to be accomplished and delegating to accountable managers 6. Review and reconcile

6 TYPES OF APPROPRIATION OF BUDGET 1. Land, building and equipment 2. R and D for new products and new processes 3. Institutional advertising and other forms of promotion 4. Training and development of personnel 5. Market penetration strategies 6. Market development strategies OBJECTIVES OF PLANNING 1. To offset uncertainty and change 2. To focus attention on objectives 3. To gain economical and efficient operations 4. To Facilitate control

MAJOR COMPONENTS OF PLANNING 1. Goal 2. Mission 9 COMPONENTS OF MISSION STATEMENT 1. Customer 2. Product or Services 3. Location 4. Technology 5. Concern for survival 6. Philosophy 7. Self-concept 8. Concern for public image 9. Concern for employees

DEFINITION OF MISSION AND VISION MISSION The organizations purpose or fundamental reason for existence

STAGES OF PLANNING 1. Diagnosing the problem 2. Identifying ACA 3. Projecting the results of each ACA 4. Adopting the best ACA

ACTIVITIES IN PLANNING 1. Formulating forecasts 2. Establishing objectives 3. Setting policies 4. Determining procedures 5. Developing programs 6. Providing schedules 7. Preparing budgets

DIFFERENT GOALS/LEVELS OF GOALS SG = Broadly defined target or future end results set by top management (Organization Perspective) TG = Targets or future end results usually set by middle management for specific departments or units (Department Perspective)

OG = Targets or future end results set by lower management that address specific measurable outcomes required from the lower levels (Unit or Individual Perspective

LEVELS OF PLAN

8 MAJOR AREAS OF STRATEGIC OBJECTIVE 1. Market Standing 2. Innovation 3. Human Resources 4. Financial Resources 5. Physical Resources 6. Productivity 7. Social Responsibility 8. Profit Requirement

CONTENT OF OBJECTIVE 1. Specific 2. Measurable 3. Accurate/Attainable 4. Realistic/Relevant 5. Time limited MEANING OF MBO MBO - a process through which specific goals are set collaboratively for the organization as a whole and every unit and individual within it; the goals are then used as a basis for planning, managing organizational activities, and assessing and rewarding contributions

5 COMPETITIVE FORCES MODEL 1. Rivalry 2. Bargaining power of customer 3. Bargaining power of suppliers 4. Threat of new Entrants 5. Threat of substitute products/services-

STEPS IN MBO PROCESS

STRENGTHS AND WEAKNESSES OF MBO Strengths of MBO 1. Aids coordination of goals and plans 2. Helps clarify priorities and expectations 3. Facilitates vertical and horizontal communication 4. Fosters employee motivation Weaknesses of MBO 1. Tends to falter without strong, continual commitment from top managers 2. Necessitates considerable training of managers 3. Can be misused as a punitive device 4. May cause overemphasis of quantitative goals