GMS 200 Chapter Notes - Chapter 6: Plans, Specific Performance, Stretch Factor

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

Document Summary

Planning is the process of setting objectives and determining how to accomplish them. Objectives: specific results that one wishes to achieve. Implement the plan and evaluate results: take action and carefully measure your progress toward objectives - follow through by doing what the plan requires; evaluate results, take corrective action, and revise plans as needed. Results oriented creating a performance oriented sense of direction. Priority oriented making sure the most important things get first attention. Advantage oriented ensuring that all resources are used to best advantage. Change oriented anticipating problems and opportunities. Long range plans look three or more years into the future. Intermediate range plans cover one to two years. Short range plans cover one year or less. Strategic plans o strategic plans: identifies long term directions for the organization o vision: clarifies the purpose of the organization and expresses what it hopes to be in the future.