Types of GoalsA single goal can’t adequately define an organization’s successStated- Official statements about the organization’s goalReal- Goals the organization is actually pursuingExample: Locks of Love has goal of helping people with alopecia, but get way more hair pieces than they are giving away and the books don’t account for why.Types of Plans1. BreadthStrategic- will apply to entire organizationExample: organizational culture changeOperational- applies to only part of the organizationExample: different board structure2. Time FrameLong term- more than 3 yearsShort term- less than a yearIntermediate- less than three years3. SpecificitySpecific- no ambiguity, clearly definedReducing lunch break timeDirectional- more flexible, general guidelinesCutting costsMore advantageous because it’s better when people set their own goals or are at least involved4. Frequency of UseSingle use plan- only needs to be used onceExample: BP oil spillStanding plan- plan in place to be used again and againExample: Air traffic control issues, ex what to do when there is a weather eventTraditional Goal Setting- goals set by top managers flow down through the organizationGoals set by top managers flow down through the organizationThese goals are passed to the next organizational level and written tor reflect responsibilities of that level, passes to the next level, and so forthPerformance is evaluated in relation to these goalsApproaches to Setting GoalsManagement by objectives (MBO)- a process of setting mutually agreed upon goals and using those goals to evaluate employee performanceSteps:Overall organizational goal/strategies are definedDivisional and department objectives definedUnit managers set specific objectives with their department managersPlans are set with managers and their employeesPlan is implementedProgress is periodically reviewedSuccess is rewardedProgress is periodically reviewedSuccess is rewardedManager’s Steps to Goal Setting1. Review the organizational mission/purpose2. Evaluate available resources3. Determine goals- in most cases, solicit input of othersa. Using SMART goals4. Write them down, and communicate them to all who need to knowa. Better to give people information they don’t need than not give them enough5. Evaluate whether goals are metPlanning Tools and TechniquesEnvironmental ScanningThe screening of large amounts of information to anticipate and interpret changes in the environmentResearch suggests companies that use this more have higher financial performanceMost common application is competitor analysisForecastingUsing quantitative and qualitative data to predict future eventsGenerations are nearing retirement, so companies have to plan for this and incorporate knowledge transferBenchmarkingSearch for best practices among other organizations that lead to t heir superior performancePart TechniqueProgram Evaluation and Review Technique (PERT)Events (Milestones/deliverables): endpoints for completionActivities: Time and Activities required for each eventSlack: Time that completed activity waits for another activity to finish to that the next activity, which depends on the completion of both activities, can startCritical path: the path *ordering) of activities that allows all tasks to be completed with the least slack timeEnd with a diagram that shows pathwayLecture 12Outline of Last Lecture I. Self Determination TheoryII. Wrapping up motivationOutline of Current Lecture I. Types of goalsII. Types of plansa. Breadthb. Time Framec. Specificityd. Frequency of UseIII. Approaches to Setting GoalsIV. Manager’s steps to goal settingV. Planning Tools and TechniquesCurrent Lecture- Chapter 8: Foundations of Planning Types of Goals- A single goal can’t adequately define an organization’s success Stated- Official statements about the organization’s goal Real- Goals the organization is actually pursuing Example: Locks of Love has goal of helping people with alopecia, but get way more hair pieces than they are giving away and the books don’t account for why. Types of Plans 1. Breadth- Strategic- will apply to entire organization MGT 305 1st Editiono Example: organizational culture change- Operational- applies to only part of the organizationo Example: different board structure 2. Time Frame- Long term- more than 3 years- Short term- less than a year- Intermediate- less than three years 3. Specificity- Specific- no ambiguity, clearly definedo Reducing lunch break time- Directional- more flexible, general guidelineso Cutting costso More advantageous because it’s better when people set their own goals or are at least involved 4. Frequency of Use- Single use plan- only needs to be used onceo Example: BP oil spill- Standing plan- plan in place to be used again and againo Example: Air traffic control issues, ex what to do when there is a weather event Traditional Goal Setting- goals set by top managers flow down through the organization- Goals set by top managers flow down through the organization- These goals are passed to the next organizational level and written tor reflect responsibilities of thatlevel, passes to the next level, and so forth- Performance is evaluated in relation to these goals Approaches to Setting Goals Management by objectives (MBO)- a process of setting mutually agreed upon goals and using those goals to evaluate employee performance Steps: - Overall organizational goal/strategies are defined- Divisional and department objectives defined- Unit managers set specific objectives with their department managers- Plans are set with managers and their employees- Plan is implemented- Progress is periodically reviewed- Success is rewarded- Progress is periodically reviewed- Success is rewarded Manager’s Steps to Goal Setting1. Review the organizational mission/purpose2. Evaluate available resources3. Determine goals- in most cases, solicit input of othersa. Using SMART goals4. Write them down, and communicate them to all who need to knowa. Better to give people information they don’t need than not give them enough5. Evaluate whether goals are metPlanning Tools and Techniques Environmental Scanning- The screening of large amounts of information to anticipate and interpret changes in the environment- Research suggests companies that use this more have higher financial performance- Most common application is competitor analysis