MANGMT 3000 1st Edition Lecture 4 Outline of Last Lecture I Overarching perspectives about management a Classical viewpoint b Behavioral viewpoint II Early behaviorism III Theory X vs Theory Y Outline of Current Lecture I Planning a Strategy types b 3 types of planning for three levels of management Current Lecture Planning what are you going to do Coping with uncertainty by formulating courses of action to achieve specific results Setting goals and deciding how to achieve them Planning requires you set aside the time to do it You may have to make some decisions without a lot of time to plan Helps you check on your progress Helps coordinate activities Helps you think ahead Helps you cope with uncertainty These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Makes you action oriented keeps you results driven Makes you change oriented anticipate problems and opportunities and handle them Makes you time oriented Four basic strategy types Reactors makes adjustments only when finally forced to by environmental pressures Adaptive cycle businesses are continuously cycling through decisions about three kinds of business problems 1 Entrepreneurial 2 engineering 3 administrative Mission statement expresses purpose of the org Vision statement long term goal describing what an org wants to become Clear sense of future and the actions needed to get there 3 types of planning for three levels of management Strategic planning determine what the org s long term goals should be for the next 1 5 years with the resources they expect to have available Tactical planning determine what contributions their departments or similar work units can make during the next 6 24 months Operational planning determine how to accomplish specific tasks with available resources within the next 1 52 weeks
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