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58 Cards in this Set
- Front
- Back
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NATURE OF PLANNING |
It involves setting the direction and goals of an organization, establishing asystem that will define the activities of the organizations, and formulating aplan to ensure that the system works toward achieving the goals of theorganization |
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VISION STATEMENTS |
describeswhat the company wants to achieve and where it wants to go in the future |
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VISION STATEMENTS |
Determines the course and direction of the company and identifies which markets,technologies, products, or customers to focus on |
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GRAPHIC
DIRECTIONAL FOCUSED FLEXIBLE FEASIBLE DESIRABLE EASY TO COMMUNICATE |
Characteristics of a good vision statements |
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GRAPHIC |
The vision projects to the market the kind of company that the management wants to create and kind of company it aspires to be |
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GRAPHIC |
“To make people happy.”- Walt Disney Corporation |
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DIRECTIONAL |
It describes the path where the company wants to go and presents specific plans to move forward in the future |
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DIRECTIONAL |
“To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete.”-Nike |
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FOCUSED |
The vision is very specific to managers are properly guided on what to do in terms of resources and strategies |
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FOCUSED |
Our vision serves asthe framework for our road map and guide every aspect of our business by describing what we need to accomplish in order to continue achieving sustainable, quality growth. - The Coca Cola Company |
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FLEXIBLE |
Allows room for mangers to change market situations, technological advancements, andcustomer preferences |
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FLEXIBLE |
“Toyota will lead the way to the future of mobility, enriching lives around world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and berewarded with a smile. We will meet our challenging goals by engaging the talent and passion of people, who believe there is always a better way.”-Toyota Global |
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FEASIBLE |
The vision is achievable and realistic. |
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FEASIBLE |
“A personal computer in every home running Microsoft software.” -Microsoft |
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DESIRABLE |
The vision is clear on why the path is practically sensible and serves the interests of members in the long run. |
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DESIRABLE |
“McDonald’svision is to be the world’s best best quick-service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer inevery restaurant smile.”-McDonald.com |
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EASYTO COMMUNICATE |
The vision is easy to understand, articulated, and can be simplified into a powerful slogan |
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EASY TO COMMUNICATE |
“Our vision is to put joy in kid’s hearts and a smile on parent’s faces. “ -Toys “R” Us |
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MISSION STATEMENT |
Describes a company’s reason for its existence. It answers the question why the company exists |
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GOALS |
These are the specific accomplishments or action plans that are usually attained after a long period |
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OBJECTIVES |
It refers to action plans that involve shorter periods and more measurable outputs |
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OBJECTIVES |
These tend to be more specific and result in tangible outcomes |
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STRAREGIC PLAN TACTICAL PLAN OPERATIONAL PLANS CONTINGENCY PLAN
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TYPES OF PLANS |
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OPERATIONAL PLANS |
These are specific procedures and processes made byfrontline or low-level managers |
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OPERATIONAL PLANS |
It also involves the formulation of ongoing plans thatspecific operations of the organization |
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POLICY |
a set of principles that guide managers in addressing a particular issue |
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RULE |
a regulation which describes and regulates the functions of an organization |
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PROCEDURE |
a step-by-step process in accomplishing a task or achieving an objective |
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POLICY RULE PROCEDURE |
OPERATIONAL PLANS |
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CONTINGENCYPLAN |
is a special plan created for unexpected scenarios or changes |
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CRISIS MANAGEMENT PLAN |
It is a plan made in preparation for any kind of crisis suchas industrial disasters like fire, or natural disasters like an earthquake or atyphoon. |
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SCENARIO PLANNING |
The company formulates plans for bothpositive and negative scenarios that may arise from the implementation of plans |
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CRISIS MANAGEMENT PLAN
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TYPES OF CONTINGENCY PLAN |
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TOP LEVEL MANAGEMENT MIDDLE LEVELMANAGEMENT LOW LEVEL MANAGEMENT |
PLANNINGAT DIFFERENT LEVELS |
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CORPORATE STRATEGY |
is a comprehensive and detailed plan should be formulated since it will be the backbone of subsequent plans |
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BUSINESS STRATEGY |
is concerned with building acompetitive advantage for a single business unit of a diversified company |
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CORPORATE STRATEGY BUSINESS STRATEGY |
TOP LEVEL MANAGEMENT |
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FUNCTIONAL STRATEGY |
determines a particular function orprocess and formulated by middle-level management officers |
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FUNCTIONAL STRATEGY |
MIDDLE LEVEL MANAGEMENT |
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OPERATIONAL STRATEGY |
is a narrower and more focused strategyformulated by low-level managers or front line supervisors. |
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FINANCIAL RESOURCES |
include the capital or investment that a company needsto start and sustain the business. |
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HUMAN RESOURCES |
are the company’s primary assets and are composed of employees who posses the skills and competencies needed for specific tasks and operations. |
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PHYSICAL RESOURCES |
include productionfacilities, distribution channels, and information technology system thatenable the execution of strategies |
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OPERATIONAL STRATEGY FINANCIAL RESOURCES HUMAN RESOURCES PHYSICAL RESOURCES |
LOWER LEVEL MANAGEMENT |
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BRAINSTORMING NOMINAL GROUPTECHNIQUE DELPHI TECHNIQUE |
PLANNINGTECHNIQUES AND TOOLS |
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BRAINSTORMING |
is acommon technique used by groups of planners in selecting a common solution fora problem. It stimulates thinking andallows the group to work together in generating ideas |
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NOMINAL GROUP TECHNIQUE |
is a highly structured method that allows members to give their owninputs based on an agenda |
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NOMINAL GROUP TECHNIQUE |
The structured and formal nature of this method restricts personal discussion among group members and minimizes conflict during discussions |
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DELPHI TECHNIQUE |
isa highly structured technique where the group leader distributes questionnairesto all group members to collect and assimilate their ideas |
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DECISION TREE PAYBACK METHOD |
PLANNINGTECHNIQUES AND TOOLS |
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DECISION TREE |
it is an excellent toolfor weighing different alternatives. Itconsists of a graph showing potential and alternative decision paths for theproposed plan |
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PAYBACK METHOD |
managers use this method in evaluating alternatives in purchasing equipment,furniture, and fixtures |
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RATIONAL/LOGICAL DECISION MODEL INTUITIVE DECISION MODEL PREDISPOSED DECISION MODEL |
TYPES OFDECISION MAKING |
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RATIONAL/LOGICAL DECISION MODEL |
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INTUITIVE DECISION MODEL |
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PREDISPOSED DECISION MODEL |
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STRATEGIC PLANS |
These plans are usually broad in range based on the company's vision, mission, and values and address the company as a whole |
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TACTICAL PLANS |
These plans translate broader plans into functional goals for each area or department |
