Introduction to Management

Chapter 3:Fundamentals of Planning

Planning Ahead - Chapter 3 Questions

Why and how do managers plan? What types of plans do managers use? What are the useful planning tools and

techniques? How can plans be well implemented?

Question1: Why and how managers plan?

Question1: Why and how managers plan?

Question1: Why and how managers plan?

Planning- The process of setting objectives and determining how to

accomplish them.

Objectives- Are specific results or desired outcomes that one wishes

to achieve.

Plan- A statement of intended means for accomplishing

objectives.

Time Management Planner

List 1 - What I have to do tomorrow

(A) Most important, top priority

(B) Important, not top priority

(C) Least important, low priority

List 2 – Time wasters

(A) Things I can control

(B) Things I can’t control

Question1: Why and how managers plan?

Question1: Why and how managers plan?

Why you need a plan?1. To set directions and priorities

2. To get everyone on the same page

3. To simplify decision-making

4. To drive alignment

5. To communicate the message

http://managementhelp.org/blogs/strategic-planning/2011/10/18/why-you-need-a-plan-5-good-reasons/

Figure 3.1 The roles of planning and controlling in the management process.

to inspire effort

Leading ---

to create structures

Organizing ---

Measure performance

Take corrective action

Controlling - to ensure results

Importance of Planning:

Decide where you want to go

Decide how best to go about it

Planning - to set the direction

Figure 3.1 shows the centrality of planning in management

Question1: Why and how managers plan?

– Efficient Use of Resources

– Establishing Goals

– Managing Risk And Uncertainty

– Promote Team Building

– Creating Competitive Advantages

http://smallbusiness.chron.com/importance-planning-organization-1137.html

Importance of Planning:

Question1: Why and how managers plan?

1. Define your objectives.2. Determine where you stand vis-à-vis

objectives.3. Develop premises regarding future

conditions.4. Analyze alternatives and make a plan.5. Implement the plan and evaluate results.

Steps in the planning process:

Question1: Why and how managers plan?

- Improves focus and flexibility.

- Improves action orientation. Complacency trap – being carried along by the flow of events.

- Improves coordination and control.

Benefits of planning:

Question1: Why and how managers plan?

Priority oriented – making sure the most important things get first attention;

Action oriented – keeping a results-driven sense of direction;

Advantage oriented – ensuring that all resources are used to best advantage;

Change oriented – anticipating problems and opportunities so they can be best dealt with

Good Planning Helps Make UsAccording to STEPHEN R. COVEY

Question1: Why and how managers plan?

Personal Time Management Tips: - DO say "No" to requests that divert you from

what you should be doing.

- DON'T get bogged down in details that you can address later or leave for others.

- DO have a system for screening telephone calls, e-mails, and requests for meetings.

MANAGEMENT SMARTS 7.1

Question1: Why and how managers plan?

Personal Time Management Tips: - DON'T let drop-in visitors or instant messages use too much of your time.

- DO prioritize your important and urgent work.

- DON'T become calendar-bound by letting others control your schedule.

- DO follow priorities; work on the most important and urgent tasks first.

MANAGEMENT SMARTS 7.1