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Understanding Management First Canadian Edition Slides prepared byJanice Edwards College of the Rockies Copyright © 2009 Nelson Education Ltd. 1
Organizational Goal Setting and PlanningChapter 5 Organizational Goal Setting and Planning
Copyright © 2009 Nelson Education Ltd.Learning Objectives Define goals and plans and explain the relationship between them. Explain the concept of organizational mission and how it influences goal setting and planning. Describe the goals an organization should have and why they resemble a hierarchy. Define the characteristics of effective goals. Describe the four essential steps in the MBO process. Explain the difference between single-use plans and standing plans. Copyright © 2009 Nelson Education Ltd.
Learning Objectives (Cont’d)Learning Objectives (Cont’d) Discuss how planning in a turbulent environment differs from traditional approaches to planning. Describe and explain the importance of the three stages of crisis management planning. Define the components of strategic management. Explain the major considerations in formulating functional strategies. Describe the strategic planning process and SWOT analysis. Copyright © 2009 Nelson Education Ltd.
Learning Objectives (cont’d)Learning Objectives (cont’d) Describe business-level strategies, including Michael E. Porter’s competitive forces and strategies and partnership strategies. Discuss the organizational dimensions used for implementing strategy. Copyright © 2009 Nelson Education Ltd.
Overview of Goals and PlansOverview of Goals and Plans Goal A desired future state that the organization attempts to realize. Plan A blueprint specifying the resource allocation, schedules, and other actions necessary for attaining goals. Copyright © 2009 Nelson Education Ltd.
Ex. 5.1 Levels of Goals/Plans and Their ImportanceCopyright © 2009 Nelson Education Ltd.
Purposes of Goals and PlansPurposes of Goals and Plans Legitimacy/mission statement. Source of motivation and commitment. Resource allocation. Guides to action. Rationale for decisions. Standard of performance. Copyright © 2009 Nelson Education Ltd.
Goals in OrganizationsMission: The organization’s reason for existence. Mission Statement: A broadly stated definition of the organization’s basic business scope and operations that distinguishes it from similar types of organizations. Copyright © 2009 Nelson Education Ltd.
Goals and Plans: StrategicGoals and Plans: Strategic Strategic Goals Broad statements of where the organization wants to be in the future, pertaining to the organization as a whole rather than to specific divisions or departments. Strategic Plans The action steps by which an organization intends to attain strategic goals. Copyright © 2009 Nelson Education Ltd.
Goals and Plans: TacticalGoals and Plans: Tactical Tactical Goals Goals that define the outcomes that major divisions and departments must achieve for the organization to reach its overall goals. Tactical Plans Plans designed to help execute major strategic plans and to accomplish a specific part of the company’s strategy. Copyright © 2009 Nelson Education Ltd.
Goals and Plans: OperationalGoals and Plans: Operational Operational Goals Specific, measurable results expected from departments, work groups, and individuals. Operational Plans Organization’s lower levels that specify action steps toward achieving operational goals. Copyright © 2009 Nelson Education Ltd.
Ex. 5.3 Characteristics of Effective Goal SettingEx Characteristics of Effective Goal Setting Goal Characteristics: Specific and measurable Cover key result areas Challenging but realistic Defined time period Linked to rewards Copyright © 2009 Nelson Education Ltd.
Ex. 5.4 Model of the MBO ProcessStep 1: Setting Goals Step 2: Developing Action Plans Corporate Strategic Goals Departmental Goals Individual Goals Action Plans Review Progress Step 3: Reviewing Progress Take Corrective Action Appraise Performance Step 4: Appraising Overall Performance Copyright © 2009 Nelson Education Ltd.
Ex. 5.5 MBO Benefits and ProblemsEx MBO Benefits and Problems Benefits: Manager and employee efforts are focused on activities that will lead to goal attainment. Performance can be improved at all company levels. Employees are motivated. Departmental and individual goals are aligned with company goals. Copyright © 2009 Nelson Education Ltd.
Ex. 5.5 MBO Benefits and Problems (Cont’d)Ex MBO Benefits and Problems (Cont’d) Problems: Constant change prevents MBO from taking hold. An environment of poor employer-employee relations reduces MBO effectiveness. Strategic goals may be displaced by operational goals. Mechanistic organizations and values that discourage participation can harm the MBO process. Too much paperwork saps MBO energy. Copyright © 2009 Nelson Education Ltd.
Copyright © 2009 Nelson Education Ltd.Types of Plans Single-Use Standing Contingency Crisis Management Three Stages: Prevention Preparation Containment Copyright © 2009 Nelson Education Ltd. 18
Copyright © 2009 Nelson Education Ltd.Strategic Management Set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals. Copyright © 2009 Nelson Education Ltd.
Ex. 5.9 The Strategic Management Process
Porter’s Competitive ForcesPorter’s Competitive Forces Potential new entrants Bargaining power of buyers Bargaining power of suppliers Threat of substitute products Rivalry among competitors Copyright © 2009 Nelson Education Ltd.
Ex. 5.11 The Five Forces Affecting Industry Competition
Competitive StrategiesCompetitive Strategies Differentiation Cost Leadership Focus Copyright © 2009 Nelson Education Ltd.
Ex. 5.14 Tools for Putting Strategy into ActionEx Tools for Putting Strategy into Action Copyright © 2009 Nelson Education Ltd.
Managerial Planning and Goal Setting CHAPTER 7. Copyright © 2008 by South-Western, a division of Thomson Learning. All rights reserved. 2 Learning Objectives.
Managerial Planning and Goal Setting
MANAGEMENT RICHARD L. DAFT.
PLANNING Management Concepts.
Goals and Plans Goal - A desired future state that the organization attempts to realize Plan - A blueprint specifying the resource allocations, schedules,
Leadership & Management Discussion for Lesson 6: Planning for Mission Accomplishment.
Planning and Strategic Management
The Strategic and Operational Planning Process
Strategy Formulation and Implementation
Copyright © 2010 by Nelson Education Ltd. Strategic Planning and the Marketing Process with Duane Weaver PMBA Chapter 2.
Planning and Goal Setting
Principles of Management
Chapter 2 PowerPoint slides Express version Instructor name
Foundations of Planning
Developed by Cool Pictures & MultiMedia PresentationsCopyright © 2004 by South-Western, a division of Thomson Learning. All rights reserved. Organizational.
Essentials of Management Chapter 4
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