Management Planning Processes and Techniques PDF

Management Fifth Canadian Edition John R. Schermerhorn, Bachrach, Jr. Barry Wright Chapter 8 Planning Processes and Techniques This slide deck contains animations. Please disable animations if they c...

Management Fifth Canadian Edition John R. Schermerhorn, Bachrach, Jr. Barry Wright Chapter 8 Planning Processes and Techniques This slide deck contains animations. Please disable animations if they cause issues with your device. Copyright ©2021 John Wiley & Sons Canada, Ltd. Learning Objectives 8.1 Identify the importance of planning and steps in the planning process. 8.2 List and give examples of the types of plans used by managers. 8.3 Discuss useful planning tools and techniques. 8.4 Explain how goals and participation influence planning success. Copyright ©2021 John Wiley & Sons 2 Canada, Ltd. Why and How Managers Plan (1 of 6) Planning The process of setting objectives and determining how best to accomplish them Objectives and goals Identify the specific results or desired outcomes that one intends to achieve Plan A statement of action steps to be taken in order to accomplish the objectives Copyright ©2021 John Wiley & Sons 3 Canada, Ltd. Why and How Managers Plan (2 of 6) Steps in the planning process: Define your objectives Determine where you stand vis-à-vis objectives Develop premises regarding future conditions Analyze alternatives and make a plan Implement the plan and evaluate results Copyright ©2021 John Wiley & Sons 4 Canada, Ltd. Why and How Managers Plan (3 of 6) The roles of planning and controlling in the management process Copyright ©2021 John Wiley & Sons 5 Canada, Ltd. Why and How Managers Plan (4 of 6) Benefits of planning: Improves focus and flexibility Improves action orientation Improves coordination and control Improves time management Copyright ©2021 John Wiley & Sons 6 Canada, Ltd. Why and How Managers Plan (5 of 6) Personal time management tips: DO say “no” to requests that distract from what you should be doing DON’T get bogged down in details that can be addressed later DO screen telephone calls, emails, and meeting requests Copyright ©2021 John Wiley & Sons 7 Canada, Ltd. Why and How Managers Plan (6 of 6) More personal time management tips: DON’T let drop-in visitors, text messaging use up your time DO prioritize your important and urgent work DON’T become calendar bound by letting others control your schedule DO follow priorities; do most important and urgent work first Copyright ©2021 John Wiley & Sons 8 Canada, Ltd. Types of Plans Used by Managers (1 of 5) Types of plans Long-term plans look three or more years into the future Short-term plans typically cover one year or less Copyright ©2021 John Wiley & Sons 9 Canada, Ltd. Types of Plans Used by Managers (2 of 5) Most of us 3 month time frame A few of us 1 year time frame Very few of us 20 year time frame Copyright ©2021 John Wiley & Sons 10 Canada, Ltd. Types of Plans Used by Managers (3 of 5) Strategic plans — set broad, comprehensive, and longer-term action directions for the entire organization or a major division Vision – clarifies purpose of the organization and what it hopes to be in the future Tactical plans – specify how the organization’s resources are used to implement strategy (often take the form of functional plans) Copyright ©2021 John Wiley & Sons 11 Canada, Ltd. Types of Plans Used by Managers (4 of 5) Functional plans – indicate how different components within the organization will help accomplish the overall strategy Production plans Financial plans Facilities plans Logistics plans Marketing plans Human resource plans Copyright ©2021 John Wiley & Sons 12 Canada, Ltd. Types of Plans Used by Managers (5 of 5) Operational plans — describe short-term activities to implement strategic plans Policies are standing plans that communicate broad guidelines for decision making Procedures are rules that describe actions to be taken in specific situations Budgets are single-use plans that commit resources to projects or activities o Zero based budgets allocate resources as if each budget were brand new Copyright ©2021 John Wiley & Sons 13 Canada, Ltd. Planning Tools and Techniques (1 of 5) Forecasting Attempts to predict the future Qualitative forecasting uses expert opinions Quantitative forecasting uses mathematical models and statistical analysis of historical data and surveys Copyright ©2021 John Wiley & Sons 14 Canada, Ltd. Planning Tools and Techniques (2 of 5) Contingency planning Identifying alternative courses of action to take when things go wrong Contingency plans anticipate changing conditions Contingency plans contain trigger points to indicate when to activate alternatives Copyright ©2021 John Wiley & Sons 15 Canada, Ltd. Planning Tools and Techniques (3 of 5) Scenario planning A long-term version of contingency planning Identifying alternative future scenarios Plans made for each future scenario Increases organization’s flexibility and preparation for future shocks Copyright ©2021 John Wiley & Sons 16 Canada, Ltd. Planning Tools and Techniques (4 of 5) Benchmarking Use of external and internal comparisons to better evaluate current performance Adopting best practices: things people and organizations do that lead to superior performance Copyright ©2021 John Wiley & Sons 17 Canada, Ltd. Planning Tools and Techniques (5 of 5) Staff planners Experts who assist in all steps of the planning process Goal setting Using SMART goals will impact how performance targets are achieved and provide motivation for such achievements Copyright ©2021 John Wiley & Sons 18 Canada, Ltd. Implementing Plans to Achieve Results (1 of 6) The five characteristics of great goals Copyright ©2021 John Wiley & Sons 19 Canada, Ltd. Implementing Plans to Achieve Results (2 of 6) Goal alignment in a sample hierarchy of objectives Copyright ©2021 John Wiley & Sons 20 Canada, Ltd. Implementing Plans to Achieve Results (3 of 6) Goal Alignment Between Team Leader and Team Member Jointly plan: set objectives, set standards, choose actions Individually act: perform tasks (member), provide support (leader) Jointly control: review results, discuss implications, renew cycle Copyright ©2021 John Wiley & Sons 21 Canada, Ltd. Implementing Plans to Achieve Results (4 of 6) Participatory Planning unlocks the motivational potential of goal setting management by objectives (MBO) promotes participation participation increases understanding and acceptance of plan and commitment to success Copyright ©2021 John Wiley & Sons 22 Canada, Ltd. Implementing Plans to Achieve Results (5 of 6) How participation and involvement help build commitment to plans Copyright ©2021 John Wiley & Sons 23 Canada, Ltd. Implementing Plans to Achieve Results (6 of 6) Resilience even with the best made plans, unexpected events can occur this may be seen as a traumatic events or an opportunities to learn you can choose to see them as a challenge and not a threat you can choose to be resilient, be optimistic, and face your fears head on Copyright ©2021 John Wiley & Sons 24 Canada, Ltd. Copyright Copyright © 2021 John Wiley & Sons Canada, Ltd. 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