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

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

3. Reasons for Planning Sets Standards to Facilitate Control Provides
Direction
Reasons
for Planning
Minimizes Waste
and Redundancy
Reduces the
Impact of Change 5

4. How Do Strategic and Tactical Plans Differ?
Time Frame
Scope
Objectives 8

5. The Time Frame of Planning
Short-Term
Plans
Long-Term
Plans 9

6. Specific Plans Directional Plans
Clear
Low
Objectives
Flexibility
General
High 10

7. Single-Use vs. Standing Plans
Unique
Situations
Ongoing
Operations 11

8. What Is Management by Objectives?
Organizational
Objectives
Divisional
Objectives
Departmental
Objectives
Individual
Objectives 12

9. Common Elements of MBO Goal specificity Participative decision making
Set time period
Performance feedback 13

10. The Strategic Management Process Identify Current Mission, Objectives
& Strategy
The Strategic
Management Process
Reassess
Mission
Strategies
Evaluate
Results 1
Analyze
Resources
Note
Weaknesses
and Strengths
Environment
Threats and
Opportunities 2 3 4 5 6
7 & 8 9 8 17

11. Grand Strategies
Growth
Stability
Retrenchment
Combination

12. Determining A Business-Level Strategy
Cost
Leadership
Differentiation
Focus 23

13. After Strategies Are Formulated
Implementation
Evaluating results

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. Project Management Process (Exhibit 5-8)
Identify
activities and
resources
Define
objectives
Establish
sequences
Determine
project
completion
date
Compare
with
objectives
Estimate
time for
activities
Determine
additional resource
requirements