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Foundations of Planning (reasons for planning (reduces uncertainly (reduce…
Foundations of Planning
reasons for planning
reduces uncertainly
reduce the impact of change
establishes the goals and standards
set the standards to facilitate control
reduces overlalpping
minimize waste and redundancy
establishes coordinated
provide deriction
Strategic management
importance
continually changing situations
organizations are complex and diverse
make a difference in how well an organization performs
process
implementation
evaluation
planning
formulate strategies
identify a mission
SWOT analysis
external analysis
opportunities
threats
internal analysis
strengths
weaknesses
weapons
innovation
quality
benchmark
employee skills and loyalty
social media
customer service
big data
types
corporate strategy
growth strategy
vertical integration
concentration
diversification
horizontal integretion
stability strategy
renewal strategy
retrenchment strategy
turnaround strategy
competitive strategy
differentiation
forcus
cost leadership
stuck in the middle
functional strategy
Aspect
goals
setting goals
traditional goal setting
management by objectives
goal specificity
participative decision making
an explicit time period
performance feedback
characteristics of well-written goals
types
stated goals
financial
strategic
real goals
plans
types
time frame
long-time
short-time
specificity
specific plans
directional plans
breadth
strategic plans
tactical plans
frequency of use
single-use plans
standing plans
developing plans
contingency factors in planning
degree of environmental uncertainly
organization level
length of future commitments
approaches to planning
Issues
dynamic environment
environmental scanning
competitive intelligence