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Lecture Exploring management - Chapter 5: Plans and planning techniques

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After reading this chapter, you should be able to answer the following questions: How and why do managers use the planning process? What types of plans do managers use? What are some useful planning tools and techniques? | Chapter 5 Plans and Planning Techniques Exploring Management Chapter 5 How and why do managers use the planning process? What types of plans do manager use? What are some useful planning tools and techniques? Planning has many benefits even when the plan doesn't work. 2 5.1 How and Why Managers Plan Planning is one of the four functions of management. Planning is the process of setting objectives and identifying how to achieve them. Planning improves focus and action orientation. Planning improves coordination and control. Planning improves time management. Planning also improves communications, provides a sense of direction among group members and allows efficient use of resources like time, money and people. 3 How and why managers plan The Planning Function Planning sets objectives and identifies how to achieve them. Of the four functions of management, planning may be the most important and definitely is the most controversial. A number of managers view it as a waste of time because many things do not go according to plan. They probably aren’t the most successful! 4 How and why managers plan Planning Steps Setting objectives that are challenging but doable is important. If you set them too high, employees will become frustrated and will soon not put forth the effort. Notice that planning is a process that includes implementation and control. It not unusual for some managers to generate a plan and then forget it and go on doing what they were doing. It’s important to have some control measures to determine if progress is being made. 5 How and why managers plan Reasons for Planning Good planning makes us: Action oriented—keeping a results-driven sense of direction Priority oriented—making sure the most important things get first attention Advantage oriented—ensuring that all re-sources are used to best advantage Change oriented—anticipating problems and opportunities so they can be best dealt with It is important to remember that a good plan is flexible. . | Chapter 5 Plans and Planning Techniques Exploring Management Chapter 5 How and why do managers use the planning process? What types of plans do manager use? What are some useful planning tools and techniques? Planning has many benefits even when the plan doesn't work. 2 5.1 How and Why Managers Plan Planning is one of the four functions of management. Planning is the process of setting objectives and identifying how to achieve them. Planning improves focus and action orientation. Planning improves coordination and control. Planning improves time management. Planning also improves communications, provides a sense of direction among group members and allows efficient use of resources like time, money and people. 3 How and why managers plan The Planning Function Planning sets objectives and identifies how to achieve them. Of the four functions of management, planning may be the most important and definitely is the most controversial. A number of managers view it as a waste of time .