manegerial planning

Question 1

types of planning(3)

Answer 1

Strategic planning – determining how to pursue long-term goals with available resources.
Intermediate planning – determining what contributions subunits can make with allocated resources.
Operational planning – determining how to accomplish specific tasks with available resources.

Question 2

the planning control cycle(4)

Answer 2

Formulate plans
carry out plans
compare preliminary results
take corrective action

Question 3

Types of plans (3)

Answer 3

Functional plans – needed to guide decisions and actions in the various functional areas of the business.
Primary role – to guide implementation of the company’s strategic plan.
One-time-plans – often created for special projects/programs that must be undertaken in support of the business’ strategy e.g., budgets.
Primary role – to carry out activities that are not intended to be repeated after the one-time plan is executed.
Standing plans – used to standardize routine activities that are encountered regularly over time.
Primary role – usually needed to set specific guidelines for carrying out certain recurring activities.

Question 4

What is strategic planning?

Answer 4

This is a process where an organization leader defines their vision for the future and identifies their organizational goals and objectives.

Question 5

the strategic planning process

Answer 5

Agree company mission and values
Set company objectives
Undertake situation analysis
Create strategies
Establish resources needed
Undertake a financial analysis of the risks and contingencies
Implementation plan.

Question 6

Miles and Snow (1978) proposed four strategic types following organizational growth:

Answer 6

Defender organizations: produce products or services for a small niche market which they defend by pricing policies or by the quality of their products. A defender can be successful as long as its primary technology and narrow product remain competitive.

Prospector organizations: use innovation strategies, moving quickly into new markets and moving out of such markets when others are able to compete equally. Flexibility and decentralization are characteristic of this organization

Reactor organizations: are those whose reactions are not consistent- they often do not follow a clear strategy, and tend only to react to short-term pressures.
Strategies should be described with reference to the structure, size and technology of the organization.

Analyzer organizations: wait for others to innovate, and reduce their risks by only entering new markets when they have proved to be profitable.

Question 7

Level of organizational goals

Answer 7

strategic goals
tactical goals
operational goals