Class notes
CCT112 - Week 6 Notes
Notes for Week 6 of CCT112
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
Content preview
Week 6 NotesFebruary 15, 2023 11:34 AM
Chapter 9
Planning work activities
What is planning?
• A management function that involves defining goals, establishing a strategy for achieving those
goals, and developing plans to integrate and coordinate work activities
What and why of planning
Relationship between planning and performance
• Formal planning is associated with
○ Higher profit and returns on assets
○ Other positive financial results
• The quality of planning and implementation affects performance more than the extent of planning
• The external environment can reduce the impact of planning on performance
• Formal planning must be used for several years before planning begin to affect performance
Goals and plans
Goals and planning
• Goals (also objectives)
○ Desired outcomes or targets
○ Provide direction and performance evaluation criteria
Types of goals
• State goals
○ Official statements of what an organization says and what it wants its stakeholders to
believe its goals are
• Real goals
○ Goals that an organization actually pursues, as defined by the actions of its members
• Plans
, ○ Documents that outline how goals will be met
○ Describe how resources are to be allocated and establish activity schedules
Types of plans
• Strategic plans
○ Plans that apply to the entire organization and establish the organizations overall goals
• Operational plans
○ Plans that encompass a particular operational area of the organization
• Long term plans
○ Plans with a time frame beyond three years
• Short term plans
○ Plans covering one year or less
• Specific plans
○ Plans that are clearly defined and leave no room for interpretation
• Directional plans
○ Plans that are flexible and set out general guidelines
• Single use plan
○ A one time plan specifically designed to meet the need of a unique situation standing plans
• Ongoing plans
○ Provide guidance for activities performed repeatedly
Setting goals and developing plans
Approaches to setting goals
• Traditional goal setting
○ An approach to setting goals in which top managers set goals that then flow down through
the organization and become subgoals for each organizational areas
• Goals are intended to direct, guide and constrain from above
• Goals lose clarity and focus as lower level managers attempt to interpret and define the goals for
their areas of responsibility
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller thekrakenmid. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$12.60. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
50843 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now