MGMT-121 Chapter Notes - Chapter 9: Market Environment, Hierarchical Organization, Pearson Education

• School: MacEwan University
• Department: Business Management
• Course: MGMT-121
• Professor: Dawit Isaac

Document Summary

Learning outcomes: define the nature and purpose of planning, classify the types of goals organizations might have and the plans they use, compare and contrast approaches to goal- setting and planning, discuss current issues in planning. Establishing an overall strategy for achieving those goals. Developing a comprehensive set of plans to integrate and coordinate organizational work. Informal: not written down, short-term focus; specific to an organizational unit. Formal: written, specific, and long-term focus, involves shared goals for the organization. Planning and performance: provides direction, reduces uncertainty, minimizes waste and redundancy, sets the standards for controlling. Other positive financial results: the quality of planning and implementation affects performance more than the extent of planning. Performance: the external environment can reduce the impact of planning on performance, formal planning must be used for several years before planning begins to affect performance. Provide direction and performance evaluation criteria: plans. Documents that outline how goals will be met.