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Chapter 5 Foundations of Planning Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 1.

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Presentation on theme: "Chapter 5 Foundations of Planning Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 1."— Presentation transcript:

1 Chapter 5 Foundations of Planning Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 1

2 Planning Defining the organization’s goals, establishing an overall strategy, and developing a hierarchy of plans to achieve goals 2 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc.

3 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 3 Reduces the Impact of Change ProvidesDirection Minimizes Waste and Redundancy Sets Standards to FacilitateControl Reasons for Planning

4 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 4 ObjectivesTime FrameScope How Do Strategic and Tactical Plans Differ?

5 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 5 The Time Frame of Planning Short-TermPlansLong-TermPlans

6 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 6 Specific Plans Directional Plans Clear General Low High Flexibility Objectives

7 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 7 Single-Use vs. Standing Plans Unique Situations Ongoing Operations

8 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 8 OrganizationalObjectives DivisionalObjectives DepartmentalObjectives IndividualObjectives What Is Management by Objectives?

9 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 9 Common Elements of MBO Goal specificity Participative decision making Set time period Performance feedback

10 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 10 Identify Current Mission, Objectives & Strategy The Strategic Management Process Reassess Mission Strategies Evaluate Results 1 Analyze Resources Note Weaknesses and Strengths Analyze Environment Note Threats and Opportunities & 8 9

11 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 11 Grand Strategies Growth Stability Retrenchment Combination

12 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 12 Determining A Business-Level Strategy DifferentiationCostLeadership Focus

13 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 13 After Strategies Are Formulated Implementation Evaluating results

14 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 14 Entrepreneurship Process by which individuals pursue opportunities, fulfilling need and wants through innovation, without regard to the resources they currently control Important themes Pursuit of opportunities Innovation Growth

15 Robbins et al., Fundamentals of Management, 4th Canadian Edition ©2005 Pearson Education Canada, Inc. 15 Project Management Process (Exhibit 5-8) Define objectives Estimate time for activities Identify activities and resources Establish sequences Determine additional resource requirements Compare with objectives Determine project completion date


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