GMS 200 Chapter Notes - Chapter 6: Personal Development, Marketing Plan, Specific Performance

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

Planning: process of setting objectives and determining how to accomplish them. Importance of planning: creates a solid platform for the other management functions. Objectives: specific results that one wishes to achieve. Plan: statement of intended means for accomplishing objectives. Determine where you stand: current accomplishments relative to desired results. Planning improves focus and flexibility: knows what they want and adapts to change. Planning improves action orientation: helps use avoid complacency trap(being carried along the flow of events) Planning improves coordination and control: combined contribution more likely to help. Planning and time management: distinguish the priority of tasks. Long-range plans: 3 or more years need to understand direction traveling towards. Vision: clarifies the purpose of the organization & expresses what it hopes to be in the future. Implements all or parts of a strategic plan. Functional plan: indicated how different operations within the org. will help advance the overall strategy. Operational plans: identifies short-term activities to implement strategic plans.