MGT 601 Week 2 Assignment Strategic Plannning Process
MGT 601 Week 2 Assignment Strategic Plannning Process
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Date Created: 11/15/15
Running head PLANNING Strategic Planning Process Elizabeth Keenan MGT601 The Functions of Modern Management MOB 1513A Dr Susan Sasiadek April 6 2015 PLANNING 2 Strategic planning is a company procedure for characterizing their strategies or management It settles decisions on assigning its assets to follow that system It might in addition reach out to control components for managing the execution of the method It answers the questions Who What When Where how and how much for accomplishing any set of strategies Plunkett Allen amp Attner 2013 In this assignment I Will be explaining the essential procedures in processing a plan and procedure in preparing sound decisions Also presume how an individual characteristics of a manager impacts decisionmaking and presume how the processes of the strategic planning process and the environmental variables that affect decision having effect the quality benefit effectiveness channel Planning strategically may have several classifications yet for the most part it includes setting objectives deciding performance to accomplish the goals and assembling means to execute the activities There are seven common steps in processing a plan setting goalsobjectives investigating and assessing the situations distinguishing the options determining the choices selecting the most useful result executing the result controlling and evaluating the outcomes Zuckerman 2000 Setting goalsobjectives While setting goalsobjectives the middle and operational management center and engage the interest and initiatives of their particular staff contents and office for a While into What39s to come The choice of goals and the streams of engagements to accomplish them is impact to some degree on the company s main purpose and qualities the strategic plans and objectives the PLANNING 3 established coordination the natural circumstances the accessibility of ways and means and the methods of insight morals gathered knowledge and skill of its supervisorsPlunkett Allen amp Attner 2013 Investigating and Assessing the Situations When goals made the management than have to break down their existent circumstances and conditions to figure out what means they would have accessible and what additional restrictive elements for example organization strategies they have to acknowledge while management assess probable possibilities of means or procedures Zuckerman 2000 The core investigation could recognize the company39s qualities and shortcomings and the peripheral examination uncovers prospectors and dangers Distinguishing the Options While creating opportunities managers have to attempt to make several ports to every goal as could reasonably be expected Those options might be entirely different approaches to achieve an objective and in addition varieties of them Once citing options management typically welcome individuals with significant information and encounters to add their proposals Assessing the Choices Every option has to be determined to figure out the one or the mixture that is destined to attain the goals successfully and productively Some management starts their assessments by developing a rundown of beneficial circumstances and costly impediments for every option VASILESCU 2014 They come back to the preVious method to make sure that every option is PLANNING 4 in agreeableness with the means accessible and if possible The manager should acknowledge the sorts and measure of means needed They add the time that every option would have need of through making an appraisal of the expenses for every method of means They also focus on the impacts prior to concluding any decisions through picking the specific options with best possibilities and minimum effects Selecting the Most Effective Result The study of every option advantages and expenses has to arise in deciding a way of means that seems more efficiently than the rest A manager has to consolidate several or all options only if to limited the extents or altogether The options that not chosen could be backup decisions for an alternate course of action Executing the Result Once the manager has finished the strategic or operational plan top management has to build up an implementation to achieve it The chosen technique achieved through the ways for projects plans and methods Its usage includes the company39s way of means and inspiration of their staff to accomplish such goals The path that the technique executed could bear an enormous effect if it could be effective In a big organization the individuals who execute the method possibly would be other individuals from the individuals who created it Consequently managers have to pay attention to imparting the means and the thinking behind it If they do not pay close attention the execution may not be successful if the method misconstrued or if lowerlevel management oppose its execution in light of the fact that they cannot comprehend why the particular means chosen VASILESCU 2014 PLANNING 5 Controlling and Assessing the Outcomes The execution of the method has to be checked and changes made as required by the managers The manager than characterize existing conditions that have to be calculated distinguish the primary means for those existing conditions carry out all estimations In addition they have to contrast the calculated outcomes with the predefined standards and established require modifications if needed Decisionmaking Process The decisionmaking process and the strategic planning process is one of the same they both may use five to six practical factors for establishing decisions and sorting out difficulties These factors are specifically for reviewing the options First managers have to recognize and present the problem in a clear and understanding way that way decisions can be established and no uncertainty will occur Second they distinguish all options whether or not if they are good or bad since there are no wrong or right alternatives Next manager assess the options in a rational style such as using a SWOT analysis or decision format method that identifies the strength weakness opportunity and dangers to all options available Frank Souza Ribeiro amp Echeveste 2013 Fourth they establish a decision by taking away lower advantage options and assess the high position option by asking rational and practical questions using resource support calculating all expects and reevaluating all expects presented Lastly the manager will put the decision made in action and making followup assessments as it implemented An individual characteristic of a manager impact decisionmaking is accessibility predisposition Accessibility PLANNING 6 predisposition is the propensity for a few things that are all the more promptly accessible in one39s mind to be predetermination for all the more oftentimes happening De Bruin Camp amp Van Merri nboer 2010 For instance if managers always look at the news that discusses white collar crimes they would assume that they crimes are always occurring and may think their own decisions may fall under such circumstance Therefore if a manager than that their decision would be an unsuccessful or successful decision most likely that is what it would turn out to become during implementation The procedures of the strategic planning process and the environmental variables that impact decision is having an effect the quality benefit effectiveness channel by dividing the productive organizations from the unproductive organization I think that the execution of the quality benefit effectiveness channel would be more reliably and environmental variables and strategic planning process would have a conforming impact on company implementation Environmental variables and strategic planning process in addition could have a significant impact on the company39s arrival on resources and profit for deals The strategic planning process and the environmental variables would have beneficial outcomes in the business correspondence Also it would impart the concept and mission qualitybenefit effectiveness channel and upcoming modifications The huge impact I think would occur is that it will give an organized procedure that urged individuals to take an interest routinely in formal conversations about qualitybenefit effectiveness Therefore the company will have the capacity to add to various vital choices that will be utilized preventively to adapt to outside changes PLANNING 7 The strategic planning process and decisionmaking process allow managers to look at all expects in a company plan before implementing them It is several impacts and solutions including individual factors an organization must review and acknowledge these processes to avoid any adverse outcomes These impacts can have an effect on the company qualitybenefit effectiveness channel and other organizational processing Having a sound mind and sound decision and planning process allows an organization to successful stay ahead of other competitors Also it provides a more productive and efficient working environment for all levels of management PLANNING 8 Reference De Bruin A H Camp G amp Van Merri nboer J G 2010 Available but irrelevant when and Why information from memory hinders diagnostic reasoning Medical Education 4410 948950 doi101111j13652923201003789X Frank A G Souza D d Ribeiro J D amp Echeveste M E 2013 A framework for decision making in investment alternatives selection International Journal Of Production Research 5119 58665883 doi101080002075432013802393 Plunkett W R Allen G S amp Attner RF 2013 Management Meeting and exceeding customer expectations 10th Ed Mason OH SouthWestern Cengage Learning VASILESCU C 2014 STRATEGIC PLANNING INFORMATION RESOURCES MANAGEMENT Journal Of Defense Resources Management 42 71 Zuckerman A 2000 Leveraging Strategic Planning for Improved Financial Performance Hfm Healthcare Financial Management 54 12 54
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