GMS 200 Study Guide - Final Guide: Scenario Planning, Middle Management

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Sui Sui

Document Summary

A plan is a statement of intended means for accomplishing objective. Define your objectives- identitfy desired outcomes or results in very specific ways. Determine where you stand vis-avis objectives- evaluate current accomplishments relative to the desired results. Develop premises regarding future- anticipate future events, brainstorm other scenarios that may happen. Analyze alternatives and make a plan- list and evaluate possible actions. Choose the alternatives most likely to accomplish your objectives. Implement the plan and evaluate results- take action and carefully measure your progress toward objectives. Planning improves action orientation keeps company ahead of competition, gives a performance target. Complacency trap- is being carried along by the flow of events. Planning improves coordination and controlling range plan 2-3 years. Intermediate plans -1-2 years short range 1 year or less. Stragetic plans- identifies long term directions for the organztion. A vison clarifies the purpose of the organization and expresses what it hopes to be in the future.