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Lecture Management practices: Lecture 09 - Dr. M. Shakil Ahmad

The following will be discussed in this chapter: Organizational planning, importance of planning, planning process, level of planning, cognitive biases, types of cognitive biases, organizational learning & creativity, delphi technique. | Management Practices Lecture 10 1 Recap Cognitive Biases Types of Cognitive Biases Organizational Learning & Creativity Delphi Technique 2 Today’s Lecture Organizational Planning Importance of Planning Planning Process Level of Planning 3 Planning and Strategy Planning Identifying and selecting appropriate goals and courses of action for an organization. The organizational plan that results from the planning process details the goals and specifies how managers will attain those goals. Strategy A cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals 4 The Planning Process Planning is the process used by managers to identify and select goals and courses of action for the organization. The organizational plan that results from the planning process details the goals to be attained. The pattern of decisions managers take to reach these goals is the organization’s strategy. 5 Three Stages of the Planning Process Determining the . | Management Practices Lecture 10 1 Recap Cognitive Biases Types of Cognitive Biases Organizational Learning & Creativity Delphi Technique 2 Today’s Lecture Organizational Planning Importance of Planning Planning Process Level of Planning 3 Planning and Strategy Planning Identifying and selecting appropriate goals and courses of action for an organization. The organizational plan that results from the planning process details the goals and specifies how managers will attain those goals. Strategy A cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals 4 The Planning Process Planning is the process used by managers to identify and select goals and courses of action for the organization. The organizational plan that results from the planning process details the goals to be attained. The pattern of decisions managers take to reach these goals is the organization’s strategy. 5 Three Stages of the Planning Process Determining the Organization’s mission and goals (Define the business) Strategy formulation (Analyze current situation & develop strategies) Strategy Implementation (Allocate resources & responsibilities to achieve strategies) 6 Planning Process Stages Organizational mission: defined in the mission statement which is a broad declaration of the overriding purpose. The mission statement identifies product, customers and how the firm differs from competitors. Formulating strategy: managers analyze current situation and develop strategies needed to achieve the mission. Implementing strategy: managers must decide how to allocate resources between groups to ensure the strategy is achieved. 7 Levels of Planning Strategy Implementation Corporate mission & goals Divisional goals Functional goals Corporate- level strategy Business- level strategy Functional- level strategy Design of Corporate Structure Control Design of Business-unit Structure Control Design of Functional Structure Control Goal Setting Strategy .