Welcome to MT140
Introduction to Management
Unit 3 Seminar
Planning
Agenda
• General Questions and
Announcements
• Introduction
• Levels of Planning
• Mission
• Strategic Vision
• Recap
• Unit 3 Assignment Q & A
• Conclusion of Seminar
Introduction
• In Unit 3, we are considering:
That planning is one of the four primary
functions of management.
That planning involves a systematic
process of making decisions about goals
and activities that will be carried out by
individuals, groups, and the organization.
That successful management depends on
an accurate and thorough evaluation of the
organization's environment.
The Basic Planning Process
Step 1 Situational Analysis
Step 2 Alternative Goals and Plans
Step 3 Goal and Plan Evaluation
Step 4 Goal and Plan Selection
Step 5 Implementation
Step 6 Monitor and Control
4-4
Situational Analysis
• Situational analysis
-A process planners use, within time and
resource constraints, to gather, interpret, and
summarize all information relevant to the
planning issue under consideration.
4-5
Generating Alternative Goals and Plans
• Goal
• Should stress
-A target or end that
creativity and
management desires
encourage
to reach
managers and
-Specific, measurable,
employees to think
attainable, relevant,
in broad terms about
time-bound - SMART
their jobs
4-6
Alternative Goals and Plans
• Plans
-The actions or means
managers intend to
use to achieve
organizational goals
• Contingency plans
-sets of actions to be
taken when a
company’s initial
plans have not
worked well or if
events in the external
environment require
a sudden change
4-7
Strategic Planning
• Strategic planning
-A set of procedures for
making decisions
about the
organization’s longterm goals and
strategies
• Strategic goals
-major targets or end
results that relate to
the long-term survival,
value, and growth of
the organization.
4-8
Strategic Planning
• Strategy
-A pattern of actions
and resource
allocations designed to
achieve the
organization’s goals
4-9
Hierarchy of Goals and Plans
Figure 4.2
4-10
Tactical and Operational Planning
• Tactical planning
-A set of procedures for translating broad
strategic goals and plans into specific goals
and plans that are relevant to a distinct
portion of the organization, such as a
functional area like marketing.
4-11
Tactical and Operational Planning
• Operational planning
-The process of identifying the specific
procedures and processes required at lower
levels of the organization.
4-12
Strategic Planning
• Strategic management
-A process that involves managers from all
parts of the organization in the formulation
and implementation of strategic goals and
strategies.
4-13
Your School Life
• School
• Graduation
• Career
The Strategic Management Process
Figure 4.3
4-15
Establishment of Mission, Vision, and
Goals
• Mission
-An organization’s basic
purpose and scope of
operations.
4-16
SWOT Analysis and Strategy Formulation
• Corporate strategy
-The set of businesses, markets, or industries
in which an organization competes and the
distribution of resources among those entities
• Concentration
-A strategy employed for an organization that
operates a single business and competes in a
single industry.
4-17
SWOT Analysis and Strategy Formulation
• SWOT analysis
-A comparison of strengths, weaknesses,
opportunities, and threats that helps
executives formulate strategy.
4-18
Analysis of External Opportunities and
Threats
• Stakeholders
-Groups and individuals
who affect and are
affected by the
achievement of the
organization’s mission,
goals, and strategies
4-19
Analysis of Internal Strengths and
Weaknesses
• Benchmarking
-process of assessing how well one
company’s basic functions and skills compare
with those of another company or set of
companies.
-goal of benchmarking is to thoroughly
understand the “best practices” of other firms
and to undertake actions to achieve both
better performance and lower costs
4-20
SWOT Analysis and Strategy Formulation
• Low-cost strategy
-A strategy an
organization uses to
build competitive
advantage by being
efficient and offering
a standard, no-frills
product
• Differentiation
strategy
-A strategy an
organization uses to
build competitive
advantage by being
unique in its industry
or market segment
along one or more
dimensions
4-21
Assignment Questions
There are 3 graded assignments in Unit 3. They are:
•
•
•
•
Discussion Board: You are introduced as part of your reading
assignment to the business case study, Sandwich Blitz, Inc. which we
will continue to consider at various times throughout this course.
Refer back to the description of the company and to your reading on
“Levels of Planning”
After completing the readings, in your judgment, what are some
considerations that Dalman and Lei must have at each of the three
levels (strategic, tactical, and operational) of planning for Sandwich Blitz,
Inc?
Be sure to address each of the three levels.
Dropbox Assignment
…paraphrasing
After reading the scenario about Dalman and Lei
and the readings for Unit 3, what do you think
are the strengths, weaknesses, opportunities,
and threats (SWOT) that the business faces if
Dalman and Lei commit to a large-scale
expansion of their business?
Be sure to identify at least one strength, one
weakness, one opportunity, and one threat
that apply to the scenario.
Review
• Don’t forget that you can take the Review as often as
you need to during the Unit Week prior to the Tuesday
midnight deadline until you get the score that you
desire.
Thank You for Attending Questions?