Class notes Basics of Management

Planning management -


function that involves setting goals .
establishing strategies for archiving these goals ,


and developing plans to integrate and coordinate work activities

→
formal planning :

→
planning and performance :
°
specific ,
oriented goals
time -




written and shared
o
formal planning is associated with
o
goals positive financial results
quality of planning 1 implementation
°



more important than the extent of it
→
managers planning : o
external factors can reduce the impact
o
provides direction of planning on performance
o reduces uncertainty o
planning performance relationship seems
-

to be
°
minimizes waste and redundancy influenced by the planning time frame
o
establishes the goals and standards
for controlling



Plans -


documents that outline how goals are going to be met




→
strategic plans apply -

to the entire organization and establish the organization 's overall goals
→
operational plans -


e compass a particular operational area of the organization
→
long term plans
- -


a time frame beyond three years
→
short term plans
-
-




covering one year or less
→
specific plans clearly defined and leave no room for interpretation
-




→ directional plans flexible and set out general guidelines
-