Search EN Upload Read free for 30 days

Download now 1 of 12  Search document 

 0 ratings · 370 views · 12 pages You might also like

Introduction To Management - Introduction To
Foundation of Planning Management-Foundations
of Individual Behaviour
Dhanis Paramaguru
Original Title: Introduction To Management- Foundation of Planning
Uploaded by Dhanis Paramaguru on Feb 15, 2015
Introduction To Management- Foundation of Planning Full description

      Introduction To
Save 0% 0% Embed Share Print
Management- Foundation
of Decision Making
Download now 1 of 12  Search document  Dhanis Paramaguru


This document is...
 Useful  Not useful
Introduction To
Management- -
FOUNDATION OF PLANNING
Management Environment
After studying this chapter, you will be able to:
Dhanis Paramaguru
•
Discuss the nature and purposes of planning.

• Explain what managers do in the strategic management process.

Related titles •
Compare and contrast approaches to goal setting and planning, and 

• Discuss contemporary issues in planning.

Strategic Management Goal
What is Planning?

Planning establishes the basis for all the other things managers do as they organize, lead, and control.  Competitive Advantage

Planning is deciding on the organization’s objectives or goals and getting the job done by establishing an 
overall strategy for achieving those goals and developing a comprehensive hierarchy of plans to Goal Setting
integrate and coordinate activities.
Introduction To Introduction To Introduction To Introduction To Introduction To Introduction To
Planning can be informal or formal. Smaller businesses often use informal planning where little is
Management-… Management-… Management- -… Management-… Management-… Management-…
verbalized or written down and the planning is general and lacks continuity.

Formal planning, however, defines specific goals that are to be met in a specific time period. They are Introduction To
written down and made available to organization members. Then managers develop specific plans that Management-
clearly define what the organization will do to move from where it is to where it wants to be.
Organaizational Structu…
Dhanis Paramaguru
Reason for Planning

Managers should plan for at least four reasons, as seen here in Exhibit 5-1.

1. Planning coordinates effort. It gives direction to both managers and nonmanagerial employees
so each knows what he or she must contribute— individually and as a group—to reach the
organization’s goals. Planning stimulates intra - and inter-department coordination of activities,
Introduction To
which fosters teamwork and cooperation. Management-Managing
2. Planning forces managers to look ahead, anticipate change, consider the impact of change, and Human Resources
develop appropriate responses. It also clarifies the consequences of the actions managers might Dhanis Paramaguru
take in response to change.

3. Planning reduces overlapping and wasteful activities. Coordination before the fact is likely to
uncover waste and redundancy.

4. Finally, planning establishes the goals or standards that facilitate managerial control  to
ensure that the plans are carried out and the goals are met. Introduction To
Management- Integrative
1
Managerial Issues
Dhanis Paramaguru

Introduction To
Criticisms for planning
Management- Managing
Communication and…
Although it makes sense for an organization to establish goals and direction, critics have challenged
some of the basic assumptions of planning. Dhanis Paramaguru

1.  Planning may create rigidity with goals and a timetable that are set under the assumption that
the environment won’t change. 

2.  Formal plans cannot replace intuition and creativity. Planning should enhance and support
intuition and creativity, not replace it.
Chapter 1 - Introduction to
3.  Planning focuses managers’ attention on today’s competition, not on tomorrow’s survival.
Management
Formal planning tends to focus on how best to capitalize on existing business opportunities
instead of ways to reinvent the industry. Instead of focusing on today, managers should plan eelya93
with an eye to untapped opportunities.

4.  Formal planning reinforces success, which may lead to failure. It’s difficult to shift from the
You're Reading a Preview
comfort of what works to the uncertainty of the unknown. However, managers may need to
face that unknown and do things in new ways to be even more successful.

Uploadperformance
Formal planning and organizational your documents to download.

Does it pay to plan? In a nutshell, yes.

Proposal
Upload to Download EileenWong
First, the data generally support the position that organizations should have formal plans and that these
plans generally translate into higher profits, higher return on assets, and other positive financial results.
OR
Second, the quality of the planning process and appropriate implementation of the plan probably

Become a Scribd member to read and download

contribute more to high performance than the extent of planning does.

full documents.
Finally, in organizations in which formal planning did not lead to higher performance, the constraints of
the environment—such as governmental regulations and unforeseen economic challenges—reduced the
Startperformance.
impact of planning on the organization’s Your 30 Day FREE Trial
Group Report
Strategic Management
Vinot Esan
One important aspect of an organization’s formal planning is strategic planning, which managers do as
part of the strategic management process.

In the space of a week, here are a few headline makers:

•  German engineering giant Siemens AG is rethinking its strategic goal of becoming a major player
in the nuclear power industry.

•  Best Buy Co. is shrinking its “big-box store” strategy to better position itself to compete online
against Amazon.com. Positive Interpersonal
Relationships in Terms of
2 Developing Creativity a…
Nordsci Conference

manager or customer rep

api-79050307
•  Burberry Group PLC’s CEO Angela Ahrendts, pictured here, is outfitting company stores in China
with the latest digital technology to woo younger customers.

Now let’s take a look at the what, how, and whys of strategic management. 

The importance of strategic management

Strategic management is what managers do to develop an organization’s strategies—that is, the plans
for how the organization will do what it’s in business to do, compete successfully, and attract and satisfy
its customers in order to achieve its goals.
Tp 11mba Mbamk01 Ab 1
Strategic management is important to avoid weakening one’s position due to poor economic conditions nimamageba
and myriad external and interval variables. Two strategies that helped clothing chain retailer Buckle Inc.
were its location strategy of not placing the majority of its 400-plus stores in states falling on hard times
and a differentiation strategy of offering customer perks, such as custom pants fittings and free
hemming of its jeans.

You're Reading a Preview

Reasons why strategic management is so important include:

1.  It can make a difference in how well an organization performs. Research has found a generally
Upload
positive relationship betweenyour documents
strategic planning andto download.
performance.
Ethical Problems in
2.  It prepares managers in organizations of all types and sizes to cope with continually changing
Upload
situations and to examine relevant toinDownload
factors planning future actions. Translation (2010)
Javier Puerto Benito
3.  Each part of an organization needs to work together to achieve the organization’s goals;
ORFor example, with more than 2.1 million
strategic management helps accomplish this.
employees worldwide working in various departments, functional areas, and stores, Walmart
Become
uses strategic a Scribd
management to helpmember
coordinate to
andread
focus and download
employees’ efforts on what’s most
important.
full documents.
Strategic management isn’t just for business organizations. Organizations such as government agencies,
Start Your 30 Day FREE Trial
hospitals, educational institutions, and social agencies also need strategic management. For example,
the skyrocketing costs of a college education, competition from for-profit companies offering alternative
OSO 8 - 10Q -
educational environments, cuts to state budgets, and cutbacks in federal aid for students and research StudentTeam
have led many university administrators to assess their colleges’ aspirations and identify a market niche
Zachary Alexander Taylor
in which they can survive and prosper.

Industrial Instrumentation
Thomas Russell
3

SIIT Report
Anderson Joe
Steps in strategic management process

Organisation
Development
simz2811

STEP 1 of the strategic management process is to identify the organization’s current mission, goals, and
strategies.

You're Reading a Preview

The mission is a statement of the organization’s purpose. Defining the mission forces managers to
identify what the organization is in business to do. For instance, the mission of Facebook is “a social
Upload
utility that connects you with your
the people documents
around to mission
you,” and the download.
of the National Heart Foundation
of Australia is to “reduce suffering and death from heart, stroke, and blood vessel disease in Australia.”  Ashish Self Appraisal
Upload
The components of a mission statement, to inDownload
seen here Exhibit 5-3, includes target customers, markets, Naina Singh
and goals and strategies, and each should be assessed to see if managers should change any of them.

Mission OR
UTP is an institute of higher learning.
Become a Scribd member to read and download
We provide opportunities for the pursuit of knowledge and expertise for the advancement of
full documents.
engineering, science and technology to enhance the nations competitiveness.
Start Your 30 Day FREE Trial
Our objective is to produce well-rounded graduates who are creative and innovative with the potential
Yellow Mgt210
to become leaders of industry and the nation.
Asad Uz Jaman
Our aim is to nurture creativity and innovativeness and expand the frontiers of technology and
education for the betterment of society.

- - - Universiti Teknologi PETRONAS

In STEP 2, managers conduct an external analysis so they can:

1.  Know what the competition is doing, how pending legislation might affect the organization, and
how stable the local labor supply is in locations where it operates.
Installing O ice 2010 B&W
Amar Behera
4

robbins_mgmt11_ppt19a.
ppt
2.  Examine all components of the environment—that is, economic, demographic, political/legal,
sociocultural, technological, and global—to see the trends and changes.
allanrnmanaloto

3.  Pinpoint opportunities that the organization can exploit and threats that it must counteract.

In STEP 3, managers conduct an internal analysis, which provides critical information about an
organization’s specific resources and capabilities. An organization’s resources are its assets—financial,
physical, human, and intangible—that it uses to develop, manufacture, and deliver products to its
customers.
fundamentals of
In comparison to assets, its capabilities are its skills and abilities in doing the work activities needed in
its business. The major value-creating capabilities of the organization are known as its core management
competencies. Both resources and core competencies determine the organization’s competitive Simson Ks
weapons.

After completing an internal analysis, managers should be able to identify organizational strengths and
weaknesses. Any activities the organization does well or any unique resources that it has are called
You're Reading a Preview
strengths. Weaknesses are activities the organization doesn’t do well or resources it needs but doesn’t
possess.
Upload your documents to download.
The combined external and internal analyses are called the SWOT analysis because, together, they are
multimedia presentation
an analysis of the organization’s strengths, weaknesses, opportunities, and threats.
Upload to Download summary sheet
After completing the SWOT analysis, managers are ready to formulate appropriate strategies that:
api-313784771
(1) Exploit an organization’s strengths and external opportunities, and 
OR
(2) Buffer or protect the organization from external threats.
Become a Scribd member to read and download
STEP 4 is formulating strategies. As managers formulate strategies, they should consider the realities of
fullresources
the external environment and their available documents.
and capabilities to design strategies that will
help their organization achieve its goals. Managers typically formulate three main types of strategies:
Start Your 30 Day FREE Trial
corporate, business, and functional. We’ll describe each shortly. 
Case Study.docx
STEP 5 involves implementing strategies. Once strategies are formulated, they must be implemented. Ram Amit Santwani
No matter how effectively an organization has planned its strategies, performance will suffer if the
strategies aren’t implemented properly. 

STEP 6 is evaluating results. This is the final step in the strategic management process, where managers
ask, “How effective have the strategies been at helping the organization reach its goals? What
adjustments are necessary?”

For example, when Anne Mulcahy was first named Xerox’s CEO, she assessed the results of previous
strategies and made strategic adjustments—such as cutting jobs, selling assets, and reorganizing
management—to regain market share and improve her company’s bottom line.  Project Management Can
Be Easy[1]
5 hitm357

You're reading a preview 

team behavior
Unlock full access (pages 6-11) by
Muktak Goyal
uploading documents or with a
30 day free trial
Continue for Free

BSBMGT516 Week 2
Practice Solutions
The process of plan development is influenced by three contingency factors and by the kind of planning Hamza Anees
approach followed.

Three contingency factors that affect the choice of plans are:

1.  Organizational level

2.  Degree of environmental uncertainty, and

3.  Length of future commitments.

Statics- Particle
Equilibrium
Organization plans can best be understood by looking at who does the planning. Dhanis Paramaguru

In the traditional approach, planning is done entirely by top-level managers who often are assisted by a
formal planning department, which is a group of planning specialists whose sole responsibility is to help
write the various organizational plans. Then the plans flow down through other organizational levels and
You're Reading a Preview
are tailored to the particular needs of each level. Although this approach makes managerial planning
thorough, systematic, and coordinated, too often the focus is on developing “the plan” which is later not
implemented. Upload your documents to download.
Statics- Force Vector 3
Another planning approach involves the input of organizational members at the various levels and in the
Dhanis Paramaguru
Upload to
various work units who participate in developing theDownload
plans to meet their specific needs.

OR

Become a Scribd member to read and download

full documents.
Start Your 30 Day FREE Trial
Statics- Force Vectors2
Dhanis Paramaguru

Statics- Force Vectors

Dhanis Paramaguru

12

Reward Your Curiosity Manufacturing

Technology-
Everything you want to read.
Fundamentals of…
Anytime. Anywhere. Any device.
Dhanis Paramaguru

Read free for 30 days

Cancel Anytime
lecture 7-Fundamentals of
Machining.ppt
Dhanis Paramaguru
Share this document
    

Manufacturing
Technology- Metal Casting
Dhanis Paramaguru

Manufacturing
Technology- JOINING
Dhanis Paramaguru

Manufacturing
Technology-Metal Cutting
Dhanis Paramaguru

Manufacturing
Technology- Metal
Casting2
Dhanis Paramaguru

Manufacturing
Technology- Metal Casting
Dhanis Paramaguru

Manufacturing
Technology- Metrology
Dhanis Paramaguru

Manufacturing
Technology-Fundamentals
of Machining
Dhanis Paramaguru

Manufacturing
Technology-Conventional
Milling
Dhanis Paramaguru

Manufacturing
Technology-Conventional
Lathe
Dhanis Paramaguru

Manufacturing Technology
- CNC Machining and other
CNC Applications
Dhanis Paramaguru

Introduction To
Management- Managing
Communication and…
Dhanis Paramaguru

Introduction To
Management- Motivating
and Rewarding Employees
Dhanis Paramaguru

Introduction To
Management-
Understanding Groups…
Dhanis Paramaguru

Introduction To
Management- Integrative
Managerial Issues
Dhanis Paramaguru

Introduction To
Management- Managers
and Management
Dhanis Paramaguru

Introduction To
Management- Assignment
Dhanis Paramaguru

assign1 gbb2033 sept12

Dhanis Paramaguru

Electrical Power and

Machines- Tutorial2
Dhanis Paramaguru

About Support Legal Social Get our free apps

About Scribd Help / FAQ Terms Instagram

Press Accessibility Privacy Twitter

Our blog Purchase help Copyright Facebook

Join our team! AdChoices Cookie Preferences Pinterest

Contact us Publishers

Invite friends

Gi s

Scribd for enterprise

Books • Audiobooks • Magazines • Podcasts • Sheet Music • Documents • Snapshots • Directory Language: English Copyright © 2022 Scribd Inc.