MGT 201 Chapter Notes - Chapter 7: Performance Indicator, Strategy Map, Scenario Planning
Document Summary
Planning is the most fundamental of the four management functions. A goal is a desired future circumstance or condition that the organization wants to realize. Planning is the act of determining goals and defining the means of achieving them. A plan is a blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals. Levels of goals and plans: mission statement, strategic goals/plans, senior management (organization as a whole, tactical goals/plans, middle management (major divisions, functions, operational goals/plans. The organizational planning process: develop the plan, define mission, vision, set goals, translate the plan, define tactical plans and objectives, develop strategy map, define contingency plans and scenarios. Identify intelligence teams: plan operations, define operational goals and plans, select measures and targets, set stretch goals, crisis planning, execute the plan. Use: management by objectives, performance dashboards, single use plans, decentralized responsibility, monitor and learn, hold planning reviews, hold operational reviews.
