Week 1 Four reasons why managers plan: 1. Provides direction to managers and non-managers alike. All employees within the organisation know where the organisation is headed and cooperate with each other to achieve goals. Without planning, departments and individuals might be working at cross purposes preventing the organisation from moving efficiently towards its goals. 2. Planning reduces uncertainty by forcing managers to look ahead and anticipate and consider the impact of change and develop appropriate responses. 3. Planning minimises waste and redundancy. When work activities are coordinated around established plans, wasted time and resources can be minimised. 4. Planning establishes the goals or standards that are used in controlling. If we are unsure of what we are trying to establish, how can we determine whether we have achieved it? Types of goals: Most companies' goals can be classified as either strategic or financial. Financial goals are related to the financial performance of the organisation. McDonalds states that its financial targets are 3-5 per cent of average annual sales and revenue growth of 6-7 per cent average annual operating income growth and returns on invested capital in the high teens. This is known as a stated goal. This is an official statement of what an organisation says and what it wants its stakeholders to believe are its goals. Strategies goals are relating to other areas of an organisation's performance. Google states 'to organise the worlds information and make it universally accessible and useful'. Real goals are what an organisation actually pursues. This is defined by the actions of its members. Types of plans: Strategic plans: Plans that apply to the entire organisation, establish the organisations overall goals and seek to position the organisation in terms of its environment. Operational plans: Plans that specifiy the details of overall goals are to be achieved.
Long term plans: plans with a time frame beyond three years Short term plans: those covering one year or less Specific plans: plans that are clearly defined and leave no room for interpretations Directional plans: plans that are flexible and set out general guidelienes. They provide focus but do not lock managers into specific goals or courses of actions. Single use plans: a one time plan specicially designed to meet the needs of a unique situation Standing plans: ongoing plans that provide guidance for activities performed repeated. Example: sexual harassment policy developed by the University of Sydney. How do they differ? . Strategic plans tend to over a longer time frame and a broader view of the organisation. Operational plans tend to over short time periods, monthly, weekly and day to day. · Strategic plans include the formulation of goals whereas operational plans define ways to achieve the goals. apply POLC to self-management A process through which individuals control their own behaviour, influencing and leading themselves through the use of specific sets of behaviour and cognitive strategies. Week 2 Chapter 13 apply Swinburne Harvard referencing to your work. define the communication process and recognise ways to improve communication Managing