Principles of management of mgt week 4.pdf · Principles of management Week 4 Planning •...
Transcript of Principles of management of mgt week 4.pdf · Principles of management Week 4 Planning •...
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Principles of management
Week 4 Planning • Definition • Process • Effectiveness • Organizational levels Decision-making • Rational process • Individual vs group decisions • Disagreements and conflict
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The act or process of making a plan to achieve or do something
i.e. deciding on what to achieve (goals) and developing a method
or strategy to achieve that goal (objectives)
Management, 2017, Prof. Dr. P. Zamaros
Planning Definition – Stoner & Freeman
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Planning is part of a process:
Management, 2017, Prof. Dr. P. Zamaros
Planning Process
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One needs to assure it works by developing commitment and
detailing action:
Management, 2017, Prof. Dr. P. Zamaros
Planning Process
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Panning effectiveness refers to the degree to which the set goals
are achieved. Effectiveness is optimized when
• The goals are specific, measurable, attainable, realistic and
timely
• Management and staff are committed to achieving the goals
i.e. when the goals are shared – the mise en commun of
communication
• Actions are detailed in that all know who does what and the
necessary resources identified
• The ways to achieve the goals (objectives) include progress
tracking systems
Management, 2017, Prof. Dr. P. Zamaros
Planning Effectiveness
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Approaches:
Management, 2017, Prof. Dr. P. Zamaros
Planning Organizational levels
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Top-bottom:
Management, 2017, Prof. Dr. P. Zamaros
Planning Organizational levels
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Top-bottom:
Management, 2017, Prof. Dr. P. Zamaros
Planning Organizational levels
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Top management - Responsible for developing long-term strategic
plans
• Purpose statement: Declaration of a company’s purpose or
reason for existing
• Strategic objective: Specific goal that:
• Unifies company-wide efforts
• Stretches and challenges the organization
• Possesses a finish line and a time frame
Management, 2017, Prof. Dr. P. Zamaros
Planning Organizational levels
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Middle management - Responsible for developing and carrying out
tactical plans to accomplish strategic objectives
Tactical plans: Direct behavior, efforts, and attention over the
next six months to two years
• Management by objectives: Managers and employees:
• Discuss and select goals
• Develop tactical plans
• Meet regularly to review progress
Management, 2017, Prof. Dr. P. Zamaros
Planning Organizational levels
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Lower-level managers - Responsible for developing and carrying out
operational plans
• Operational plans: Day-to-day plans for producing or
delivering the organization’s products and services over a
thirty-day to six-month period
• Types
• Single-use plans: Plans that cover unique, one-time-only
events
• Standing plans: Plans used repeatedly to handle
frequently recurring events
• Budgeting: Allocate available money
Management, 2017, Prof. Dr. P. Zamaros
Planning Organizational levels
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Decision making: Process of choosing a solution from available
alternatives
Rational decision making: Systematic process of defining problems,
evaluating alternatives, and choosing optimal solutions
Management, 2017, Prof. Dr. P. Zamaros
Decision-making Definitions
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Steps
Management, 2017, Prof. Dr. P. Zamaros
Decision-making Rational decision making
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Management, 2017, Prof. Dr. P. Zamaros
Decision-making Conflict and decision-making
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Management, 2017, Prof. Dr. P. Zamaros
Decision-making Conflict and decision-making
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Management, 2017, Prof. Dr. P. Zamaros
Decision-making Conflict and team decision-making
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