mgmt week 4 notes
mgmt week 4 notes MGMT 301
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This 2 page Class Notes was uploaded by Evangelos Katradis on Sunday February 14, 2016. The Class Notes belongs to MGMT 301 at Pennsylvania State University taught by Ronald Johnson in Winter2015. Since its upload, it has received 14 views.
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Date Created: 02/14/16
Chapter 5: Planning The Management Process: POLC 1. Planning: process of setting performance objectives and determining how to get them done 2. Organizing: 3. Leading 4. Controlling Planning: The management process Personal Planning Work & Life Style: J: Judging: formal structured planning approach P: Perceiving: INformal UNstructured planning approach Best Planning Includes: (Orientation) CAPA 1. Change oriented 2. Action oriented 3. Priority oriented 4. Advantage oriented Plan an Amusement Park:(smeal majors) 1. management 2. marketing 3. finance 4. accounting 5. supply chain 6. risk management Long range vs Short range: Long 3+ yrs Short 312 months Strategic Plan> Operational(tactical) plan: 1. Financial 2. marketing 3. production 4. facilities 5. human resources company policy> broad guidelines company procedures> specific actions Planning Tools and Techniques: 1. Forecasting: using statistical tools & intuition to predict future 2. Contingency: identifying action to take when a plan must change based on circumstances 3. Scenario: considering future scenarios & developing plans to address those issues 4. Benchmarking: comparing your company to outside organizations both in your industry and in other businesses 5. Participatory: including those impacted/ who will implement your plan in the process 6. Goal Setting: developing quantified measures that guides an organizations and the individuals work
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