Mgt4201#5

Principles of Managemant Lecture 5 Planning and Strategic Management

Decision Making and the Planning Process ,[object Object],3 – Figure 3.1 Strategic goals Strategic plans Tactical goals Operational goals Operational plans The organization’s mission The Environmental Context • Purpose • Premises • Values • Directions Tactical plans

Organizational Goals ,[object Object],[object Object],[object Object],[object Object],[object Object],3 –

Kinds of Goals ,[object Object],[object Object],[object Object],[object Object],[object Object],3 –

Different Goal Setting Processes in Organizations 3 – Source: Barney, Jay B. and Ricky W. Griffin. The Management of Organizations . Copyright © 1992 by Houghton Mifflin Company. Used with permissions.

Kinds of Plans ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3 –

The Nature of Strategic Management ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3 –

The Components of Strategy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3 –

Types of Strategic Alternatives ,[object Object],[object Object],[object Object],[object Object],3 –

Types of Strategic Alternatives (cont’d) ,[object Object],[object Object],[object Object],[object Object],3 –

The Relationships of Strategies by Organizational Level 3 –

SWOT Analysis ,[object Object],[object Object],[object Object],[object Object],3 – Figure 3.2 Mission An organization’s fundamental purpose Best Strategies SWOT Analysis To formulate strategies that support the mission Those that support the mission and • exploit opportunities and strengths • neutralize threats • avoid (or correct) weaknesses Internal Analysis Strengths (distinctive competencies) Weaknesses Threats External Analysis Opportunities

Using SWOT Analysis to Formulate Strategy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3 –

Using SWOT Analysis to Formulate Strategy (cont’d) ,[object Object],[object Object],[object Object],[object Object],[object Object],3 –

Using SWOT Analysis to Formulate Strategy (cont’d) ,[object Object],[object Object],3 –

Using SWOT Analysis to Formulate Strategy (cont’d) ,[object Object],[object Object],3 – ,[object Object]

Formulating Corporate-Level Strategies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3 –

Tactical Planning ,[object Object],3 – Developing tactical plans • Recognize and understand overarching strategic plans and tactical goals • Specify relevant resource and time issues • Recognize and identify human resource commitments Executing tactical plans • Evaluate each course of action in light of its goal • Obtain and distribute information and resources • Monitor horizontal and vertical communication and integration of activities • Monitor ongoing activities for goal achievement

Types of Operational Plans 3 – Table 3.1

Contingency Planning ,[object Object],3 – Figure 3.6 Ongoing planning process Action point 1 Action point 2 Action point 3 Action point 4 Develop plan, considering contingency events Implement plan and formally identify contingency events Specify indicators for the contingency events and develop contingency plans for each possible event Successfully complete plan or contingency plan Monitor contingency event indicators and implement contingency plan if necessary

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