BA 351
Terms
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- Actions
- Specific steps needed to achieve the stated objectives.
- Avoiding Planning Pitfalls
- Managers can overcome disadvantages of planning by involving different organizational levels.
- Benefits of planning
- Assessing external forces, developing a sense of direction, identifying the factors that affect the organization, encouraging participation, coordinating efforts, establishing priorities, establishing "what if" scenerios.
- Cascading of Objectives
- Objectives are broader at the top of the organization and become more specific at lower organization levels.
- Difficulty
- Challenging yet achievable objectives induce employees to work harder to use their full potential.
- Formal Planning
- A well defined set of objectives, action plans, resource allocation procedures, and implementation guidelines, usually in a written document.
- Identify the different elements of an effective plan.
- Objectives. Actions. Resource Allocation. Implementation Guidelines.
- Implementation Guidelines
- A description of how intended actions will be executed.
- Milestones
- Timetables and deadlines serve to motivate individuals to try harder.
- Objectives
- Goals or targets to be accomplished.
- Operational Plans
- Employees are responsible for carrying out activities and other devices that go along with it.
- Opportunistic Planning
- Programmatic actions to respond to unforeseen circumstances.
- Pitfalls of planning
- Poor forecasts of future conditions, plans imposed from above, planning as a self-contained activity.
- Priorities
- Ranking of objectives in order of importance.
- Resource Allocation
- Necessary financial and human resources to carry out the planned activities.
- Specifically and Measurability
- By knowing what is expected and how exceptions will be measured, managers and employees can focus on the most important actions, thereby concentrating on achieving the best results.
- Strategic Plans
- Link action plans of diff organizational functions and units to they can help support the business.
- Tactical Plans
- What activities should be performed, when they should be completed and what resources to get them.