MGC1010 Lecture Notes - Lecture 4: Scenario Planning
7 Jun 2018
School
Department
Course
Professor
Planning
Planning: To set the direction
• Decide where you want to go
• Decide the best way to go about it
What is planning?
Plan: A statement of intended means for accomplishing objectives
Planning: Process of setting objectives and determining how to accomplish them
Objectives: Specific results usually expressed in measurable indices that someone wishes to achieve
and may relate to the individual, a group or the whole organisation
Planning processes and models
Five step process
1. Define objectives
• Identify desired outcomes or results in very specific ways
2. Determine where you stand in relation to objectives
• Evaluate current accomplishments relate to the desired results
• Know our strengths and weaknesses
3. Develop scenarios of future conditions
• Try to anticipate future events
• Identify for each scenario things that may help or hinder progress towards your objectives
4. Analyse and choose an alternative
• List and carefully evaluate the possible actions that may be taken
• Choose the alternative(s) most likely to accomplish your objectives
5. Implement the plan and evaluate the results
• Take action and carefully measure your progress towards ojectives
SMART Model for establishing objectives
S – Specific:
Objectives need to be clearly defined so it is easy to understand what is to be achieved
M – Measurement: Exact measure must be stated and the objective must be measured through some
means
A – Actionable: An organisation needs to ensure that its managers have authority and resources for
action
R – Reasonable: Objectives need to be realistic
Document Summary
Planning: to set the direction: decide where you want to go, decide the best way to go about it. Plan: a statement of intended means for accomplishing objectives. Planning: process of setting objectives and determining how to accomplish them. Objectives: specific results usually expressed in measurable indices that someone wishes to achieve and may relate to the individual, a group or the whole organisation. Implement the plan and evaluate the results: take action and carefully measure your progress towards ojectives. S specific: objectives need to be clearly defined so it is easy to understand what is to be achieved. M measurement: exact measure must be stated and the objective must be measured through some means. A actionable: an organisation needs to ensure that its managers have authority and resources for action. R reasonable: objectives need to be realistic. T timetabled: objectives should have deadlines so progress towards achieving them can be measured.
