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Learning objectives of chapter 4

After studying this chapter, you should be able to:

 Explain the basic issues of planning and strategy.

 Explain the steps of strategic planning.

MANAGEMENT
Chapter 4: Planning

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Content Topic 1: The Basic Issues of Planning and Strategy

Topic 3: Levels and skills of managers.

The Basic Issues of Planning and After studying this topic, you should be able to:
Topic 1
Strategy
 Define the nature of planning, strategy and their relationship.

 Explain why planning is importance.

 Identify the three levels of strategic planning.

Topic 2 Strategic Planning

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Content 1. The nature of Planning and strategy

 The nature of Planning and strategy

 The importance of planning

 The levels of strategic planning

 The types of planning

Status quo Strategy Goal

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2. The importance of planning 3. Levels of strategic planning

1. Direction to go 2. Guidelines for

decision-making

3. The same direction for all 4. A device for controlling

managers

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4. Types of planning 4. Types of planning

Standing Plans and Single-Use Plans

Planning by time

Single-Use Plans
Standing Plans
- Short term plan.
Long term Middle term Short term - Long term plan.
- Programs, projects
- An overall picture
- Do by a lower manager
5 years 1 – 5 years < 1 year - Do by a top manager

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Topic 2: Strategic Planning Content

Topic 3: Levels and skills of managers.  The organization’s vision, mission, core value and goal.
After studying this topic, you should be able to:
 The three steps of the strategic planning process
 Define the three steps of strategic planning.
 The types of an organization’s goals.
 Define the organization’s vision, mission core value and goal.
 Establish goal by SMART, OKR tool.
 Explain the SMART, OKR, SWOT tools.
 Strategy formulation by SWOT tool.
 Explain the types of strategies in each level of planning.
 Corporate strategy

 Business strategy

 Functional strategy

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1. The organization’s vision, mission, core value and goal. 2.The three steps of the strategic planning process

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3. Type of objectives (Step 1) Type of objectives

Corporate Final
Short-term
objectives Major objective objective
objective

Division
objectives

Funtional Long-term
objectives Minor objective Milestone
objective

Individual
objectives

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4. Goal setting OKR goal setting

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5. Strategic Planning (Step 2) 6. What is SWOT?

Goal

Strategy

Current
position

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SWOT analysis Questions for SWOT analysis

SWOT Analysis

HR? Branding? Organization?

S W
Strengths Weaknesses

O T
Opportunities Threats

. .

Market? Competitor? Growth of

industry? Environment?

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KHOA QUẢN TRỊ KINH DOANH

7. Types of strategy 1. Corporate strategies

1. Corporate strategy (Concentration on a single industry,

Vertical integration, Diversification, International expansion) Concentration on a single industry
2. Business strategy (Low-cost strategy, differentiation
strategy, Focused Low-Cost and Focused Differentiation Vertical Integration
Strategies)
Diversification
3. Functional strategy (Value chain) Non-related diversification

International Expansion
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KHOA QUẢN TRỊ KINH DOANH

3. Functional Strategy
2. Business strategies

Cost leadership strategy

Differentiation strategy

Focused strategy

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Strategy implementation (Step 3)

1. Allocating responsibility to appropriate individual or group.

2. Drafting detailed action plans that specify how a strategy is to be
implemented.
3. Establishing a timetable for implantation.
4. Allocating appropriate resources to the responsible individuals or group.
5. Holding specific individuals groups responsible for the attainment of
corporate, divisional, and functional goals.

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