Lecture 5 - Plans and planning tools. In this chapter, the following content will be discussed: General characteristics of planning, different types of plans, major steps of the planning process, relationship between planning and organizational objectives, management by objectives (MBO) program, types of planning tools. | CSC350: Learning Management Systems COMSATS Institute of Information Technology (Virtual Campus) Lecture # 5 Planning and Planning Tools 2 Understanding international management Categorizing organizations by level of international involvement Constituting a multinational corporation Information about those who work in multinational corporations Relating management functions to multinational corporations Transnational organizations Issues impacting managing in the international system Review of the Previous Lecture 3 General characteristics of planning Different types of plans Major steps of the planning process Relationship between planning and organizational objectives Management by objectives (MBO) program Types of planning tools Topics of Discussion 4 4 Defining Planning Process of determining how an organization can get where it wants to go and what it will do to accomplish its objectives Through planning, the firm identifies: Where it is going How it will get there GENERAL . | CSC350: Learning Management Systems COMSATS Institute of Information Technology (Virtual Campus) Lecture # 5 Planning and Planning Tools 2 Understanding international management Categorizing organizations by level of international involvement Constituting a multinational corporation Information about those who work in multinational corporations Relating management functions to multinational corporations Transnational organizations Issues impacting managing in the international system Review of the Previous Lecture 3 General characteristics of planning Different types of plans Major steps of the planning process Relationship between planning and organizational objectives Management by objectives (MBO) program Types of planning tools Topics of Discussion 4 4 Defining Planning Process of determining how an organization can get where it wants to go and what it will do to accomplish its objectives Through planning, the firm identifies: Where it is going How it will get there GENERAL CHARACTERISTICS OF PLANNING 5 Purposes of Planning Minimize risk by reducing uncertainties Increase degree of organizational success Establish a coordinated effort within the organization Facilitate the accomplishment of the organization and its objectives GENERAL CHARACTERISTICS OF PLANNING 6 Advantages of Planning Helps managers become future-oriented Enhances decision coordination Emphasizes organizational objectives Helps ensure sustainability of the firm Helps managers identify and deal with problems that arise as the firm conducts its business GENERAL CHARACTERISTICS OF PLANNING 7 Disadvantages of Planning Managerial time involvement Rigidity and lack of adaptability Balance of time spent on organizing, influencing, and controlling GENERAL CHARACTERISTICS OF PLANNING 8 Primacy of Planning Planning is the primary management function Planning serves as the basis for the other management functions GENERAL CHARACTERISTICS OF PLANNING 9 Standing Exist for routine guidelines & actions that
