MGT 125 Lecture Notes - Lecture 20: Store Manager, Market Environment, Personal Development

• School: Irvine Valley College
• Department: Management
• Course: MGT 125
• Professor: budgay

Document Summary

Identifying alternative courses of action that can be implemented if and when an original plan proves inadequate because of changing circumstances. "trigger points" that indicate that an existing plan is no longer desirable must be preselected and then monitored. Places organisation in a state of readiness. Approaches to planning : traditional goal setting, management by objectives, gannt chart, critical path model. Management by objectives - strategy used to manage organisations performance. Environmental scanning: screening large amounts of information to anticipate and interpret changes in the environment. Benchmarking/ competitors intelligence: a technique that makes use of external comparisons to better evaluate an organisation"s current performance and identify possible actions for the future. Forecasting: a technique that uses quantitative or qualitative information to predict outcomes. Brings the resources together to turn plans into actions. Within each category: r+d, product supply and brand. Selling and marketing focus on distribution and sales.