Professional Documents
Culture Documents
Managers Planning
Why plan? Process
Step 1 Situational Analysis Step 2 Alternative Goals and Plans Step 3 Goal and Plan Evaluation Step 4 Goal and Plan Selection Step 5 Implementation Step 6 Monitor and Control
Situational Analysis
A process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration.
A target or end that management desires to reach Specific, measurable, attainable, relevant, time-bound - SMART
Contingency plans
Benefits of Planning
Focus and flexibility Action orientation Coordination Time management Control
Implementation
Managers and employees must understand the plan, have the resources to implement it, and be motivated to do so Successful implementation requires a plan to be linked to other systems in the organization, particularly the budget and reward systems
Strategic Planning
Strategic planning
A set of procedures for making decisions about the organizations long-term goals and strategies
major targets or end results that relate to the long-term survival, value, and growth of the organization.
Strategic goals
Strategic Planning
Strategy
A pattern of actions and resource allocations designed to achieve the organizations goals
Strategic Planning
1. 2. 3. 4. Where will we be active? How will we get there? How will we win in the marketplace? How fast will we move and in what sequence will we make changes? 5. How will we obtain financial returns
A set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of the organization, such as a functional area like marketing.
The process of identifying the specific procedures and processes required at lower levels of the organization.
Stategic Planning
Strategic management
A process that involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies
Environmental Analysis
Groups and individuals who affect and are affected by the achievement of the organizations mission, goals, and strategies
process of assessing how well one companys basic functions and skills compare with those of another company or set of companies. goal of benchmarking is to thoroughly understand the best practices of other firms and to undertake actions to achieve both better performance and lower costs
A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy.
The set of businesses, markets, or industries in which an organization competes and the distribution of resources among those entities A strategy employed for an organization that operates a single business and competes in a single industry.
Concentration
The acquisition or development of new businesses that produce parts or components of the organizations product A strategy used to add new businesses that produce related products or are involved in related markets and activities.
Concentric diversification
A strategy an organization uses to build competitive advantage by being efficient and offering a standard, no-frills product A strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions.
Differentiation strategy
Strategy Implementation
1. Define strategic risks 2. Assess organization capabilities 3. Develop an implementation agenda 4. Create an implementation plan
Strategic Control
Strategic control system
A system designed to support managers in evaluating the organizations progress regarding its strategy and, when discrepancies exist, taking corrective action.
BCG Matrix