GMS 200 Lecture Notes - Lecture 6: Time Management, Scenario Planning

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

Document Summary

Planning: the process of setting objectives and determining the best way to accomplish them. Benefits of planning - it improves: focus and flexibility, action orientation, co-ordination and control, time management. Short-range and long-range plans: short range plans: 1 year, intermediate-range plans: 1-2 years, long-range plans: 3 years. Higher management levels focus on longer time horizons. Strategic plans: set broad, comprehensive, and longer-term action directions for the entire organization. Tactical plans: define what needs to be done in specific functions to implement strategic plans: financial plans, marketing plans, human resource plans. Policy: broad guidelines: policy on international students. Rules or procedures: actions taken to be taken in specific situations: procedure for nominated teaching assistant award (?) Budgets: single-use plans that commit resources to activities, projects, or programs. Planning: how to deal with the implications of a forecast. Identifying alternative courses of action that can be implemented to meet the needs of changing circumstances.