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foundations of planning (six strategic weapons (innovation, quality,…
foundations of planning
managers engage in planning to
reduce the impact of change
minimize waste and redundancy
provide direction
set the standards to facilitate control
strategic management process
identify the organization's current mission,goals,and strategies
external analysis
internal analysis
formulate strategies
implement strategies
evaluate results
six strategic weapons
innovation
quality
employee skills and loyalty
social media
customer service
big data
corporate strategy
stability strategy
renewal strategy
growth strategy
planning=goals+plans
MBO programs
participative decision making
an explicit time period
goal specificity
performance feedback
dynamic environments=planning challenges