Chapter 5 Planning process of setting performance objectives and determining how to get them done Personal planning judging and perceiving Judging organized and structured plan out the day linear fashion to do lists formal time management straight line Perceiving informal unstructured spontaneous flexible time is constantly wheeling rotates all day no to do lists circle Process of planning 5 steps DC Computers And Electronics 1 Define objectives 2 Compare current to objectives 3 Compare future alternatives 4 Analyze alternatives and make a plan 5 Implement and evaluate 4 Components of Good Planning CAPA action oriented priority oriented advantage oriented change oriented Priorities Big Rocks 2 key issues big rocks big rocks 1st highest priority priorities are key in planning most start with important stuff Amusement Park Planning Discussion Planning Shanghai Disney Accounting Supply Chain Marketing Management Finance Risk Management uses all departments and majors Marketing target audience forecasting advertising communication promotions product development PR social media Finance investment funds loans stock issue equity partnerships cash debt exchange rates Accounting auditing plan how to audit financials budget records book keeping consulting taxes Management people staffing goal setting SOP s policies rules procedures job descriptions cultural understanding Supply Chain getting park building materials retail inventory food water park location movement of goods and people logistics Risk Management insurance liability liability legal exposure Planning Hierarchy 5 components Mission and Purpose Objective Hierarchy top management objective senior management middle management supervisory management workers 1 Alignment good set of objectives cascade down through organization get alignments everyone s rowing the boat in same direction 2 Follow through 3 Communication Long and Short Range long range plans 3 years short range plans 3 12 months Strategic and Operational and Functional Strategic big picture top highest level of planning can happen anywhere happens everywhere Operational Tactical Planning day to day what do we have to do need design people Functional financial marketing production facilities human resources Policies and Procedures Policy broad guidelines no smoking in lobby no dating within company Procedures specific actions if policies aren t abided by what do we do Budgeting budget connects plans with resources Big Six Planning Tools definitions and example Forecasting using statistical tools and intuition based on experience to predict a future state look at previous models talk to customers Gulf Stream forecasting 200 planes forecasting supplies and space Contingency identifying actions to take when a strategic or tactical plan must change based on circumstances good and bad what if s always what if around our strategic and tactical approach current model to business best case sell more worst case sell less most likely case what you think have some control Scenario considering future scenarios and developing plans to address those issues comes out of military plans who will react What will happen What if we have a financial crisis what if s war games what if something happens out of our control tsunami fire in factory Benchmarking comparing your company to outside organizations both in your industry and in other businesses who is world class at this Who I might learn from World class organizations Participatory including those impacted and or who will implement your plan in the process getting other people involved and engaged Goal Setting developing clear quantified measures that guides the organization s and the individual s work set goals defines what everyone tees off of G650 specific timely resources attainable challenging stretch goals measurable Gulfstream Aerospace G650 can go 7 000 miles without stopping for fuel private jets every technology in it beds break sound barrier quietly Joe Lombardo President further faster Goal Setting Components Zynga goal to break away from Facebook and make their own thing and name independent but working with Facebook makes games planning games mobile and more accessible going outside of Facebook Shanghai Disney construct a popular and successful amusement park Chapter 6 Controlling ensuring results by measuring performance and taking corrective action right things happen right way right time 4 step control process know each overview set performance objectives measure actual performance how are we doing compare actual objectives take actions to control process Disney example 4 r s Rides Control how many customers per ride busiest time for rides wait time length average customer satisfaction survey safety reports injuries illnesses of riders by day week ride efficiency up vs down time demographics for each ride staff requirements mechanical breakdowns cost of ride limits health restrictions cost to operate the ride alternatives to lines fast pass average time to complete ride contribution margin to park Restaurants Control magic kingdom restaurant sit in cars movies playing busiest time off day popular meals prices food varieties staffing healthy options customer satisfaction survey quality average wait time of service good vs bad services turnover time healthy inspection requirements whole order by individual products what is consumption by food items measure food items cost of waste labor cost time of day of customers total cost expense revenue Retail Control inventory prices store hours busiest times workers location turnover inventory sales volume gross product SKU stock keeping units check out timing supply chain efficiency measure of the store Feed Forward Concurrent and Feedback 1 Inputs feed forward 2 Throughputs concurrent 3 Outputs feedback Control Three Stages Example Aircraft Tires and Brakes feed forward set standards how many take off come in regulations concurrent asses how they re doing feedback send back out and interact with customers customer satisfaction survey Dance Marathon example of feedback types feed forward keeping track of donations clothing sales music committees guest speakers food and drinkers medical requirements set up BJC concurrent game time hydration food water donations medical services finance security of individuals timing maintenance technical issues rate of water and food consumption schedule acts bands speakers organization structure feedback performance objects vs how you actually
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