GMS 200 Lecture Notes - Lecture 6: Cash Flow, Human Resources, Personal Development

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

Document Summary

Planning is the process of setting objectives and determining how to accomplish them. The roles of planning and controlling in the management process: Planning should focus attention on objectives, specific results that one wishes to achieve. The complacency trap is being carried along by the flow of events. Chapter 6: don"t become calendar bound by letting others control your schedule, do follow priorities; work on the most important and urgent tasks first. People vary in their capability to deal effectively with different time horizons. Higher management levels focus on longer time horizons. Strategic plan identifies the long-term directions for the organization, and it begins with a vision that clarifies the purpose of the organization and expresses what it hopes to be in the future. Tactical plan helps to implement all or parts of a strategic plan. Functional plans indicate how different operations within the organization will help advance the overall strategy. Production plans: dealing with work methods and technology.