Week 3 Foundations of Planning Learning goals · What is planning? · Why is planning important? · Who makes plans? · What types of plans do managers use? · Contingencies in planning · Useful planning techniques What is planning? · Planning involves setting the organisation's goals, establishing strategies for achieving those goals, and developing plans to integrate and coordinate work activities. It is concerned with the end (what is to be done) and the means (how it is to be done). · Goals (Objectives) are desired outcomes or targets for individuals, groups and entire organisations. . They provide the direction for all management decisions and form the criterion against which actual work accomplishments can be measured. . Remember to be SMARTER . - Examples - Financial goal - earn $1.4 million profit before tax - Strategic goal ( Swinburne, to become a world class university creating social and economic impact through science, technology and innovation)
Week 3 Notes · The management process was described as planning, organising, leading and controlling the use of resources to achieve performance objectives. . The first of these functions, planning, sets the stage for the others. · Planning involves deciding exactly what you want to accomplish and the best way to go about it. · Although many management gurus and senior managers consider setting objectives and planning to be an oldfifashioned practice, there is still considerable support for longfiterm planning in many large and small organisations. · Objectives are specific results that someone wishes to achieve and may relate to the individual, a group or the whole organisation. · A plan is a statement of intended means for accomplishing objectives · What has changed in many companies is that planning is not so rigidly tied to a complex series of fivefior tenfiyear plans produced by senior corporate managers. It is a process that generates a series of 'what if' scenarios. Formal VS informal planning . Planning can be either formal or informal. · Informal planning: nothing is written down and there is little or no sharing of goals with others in the organisation. · Formal planning: specific goals covering a period of years are defined. These goals are written down and shared with organisational members to reduce ambiguity and create a common understanding about what needs to be done. Notes:
Week 3 · The management process was described as planning, organising, leading and controlling the use of resources to achieve performance objectives. . The first of these functions, planning, sets the stage for the others. · Planning involves deciding exactly what you want to accomplish and the best way to go about it. · Although many management gurus and senior managers consider setting objectives and planning to be an oldfifashioned practice, there is still considerable support for longfiterm planning in many large and small organisations. · Objectives are specific results that someone wishes to achieve and may relate to the individual, a group or the whole organisation. . A plan is a statement of intended