Standing plans Standing plans are ongoing plans that are used to provide guidance for tasks performed repeatedly within an organization.Policy (sexual harassment policy)Broad based on organizational goals define boundaries with in which to make decisionsRules (no smoking in class)NarrowDefine specific actionProcedures ( employee grievances)Define a precise series of steps to attain certain goalsĬontingency plansPlans that define company responses to specific situations, for example emergencies or unexpected conditions. Have machines downtime of less than 7%Types of Plans Single-use planĬontingency plansSingle-use plansPlans for attaining a one-time organizational goal.Large in scopeExamples: building a new headquartersInstalling a new accounting systemProjects are including in this category of planning Operational plans are usually done on a daily or weekly basis.Operational plans define the outcomes of the divisions or departments.Operational goalVisit one new customer each day Operational PlansThese plan are specific and measure departmental results. No layoffsTactical PlansTactical plans are plans to help the organization execute its strategic goals and to accomplish a specific part of the company’s strategy.Tactical Goals define the outcomes of that major divisions and departments must achieve in order for the organization to reach its goals.Example of tactical plans:Manufacture 1,000,000 units at an average cost of $ 10.00ĭifferences between strategic and tactical plansStrategicTacticalEnsure long-term effectiveness and growthLength: Usually two or more yearsPlans are done every one to three yearsPrimarily done by top managementIt is used as a means to implement strategic plans.Length: Short-termPlans are done every six months to a yearPrimarily done by employees up to middle management Strategic goals examples:15% return on investment and 5% growth These goals pertain to the whole organization. Strategic goals are broad goals of where the organization wants to be in the future. Strategic plansStrategic plans define the action steps by which the organization intends to achieve its goals. And in everything we do, we strive for honesty, fairness and integrity. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. Organizational missionOur mission is to be the world's premier consumer products company focused on convenient foods and beverages. Mission StatementA mission statement often answers basic questions :What business are we in?Who are we?What are we doing?
Organizational MissionMission – the organization’s reason for existence.The mission describes as well the organizations values and aspirations.Mission statement is a broad statement defining the organization’s basic business scope and operations that distinguishes it from its competition.Sagicor is committed to being an outstanding corporate citizen, providing financial services that create value for our customers, excellent returns to our shareholders, the highest quality of work life and the opportunity for personal and professional development of our staff and financial advisors.
PlanningWhy is planning important to managers ?To determine new opportunitiesTo anticipate and avoid future problemsTo develop effective courses of action (strategies and tactics)To comprehend the uncertainties and risks with various options.To set standards
It specifies : resource allocationsschedulesactions necessary for attaining goalsA goal is a desired future state that an organization attempts to realize.Planning is the act of determining the organization’s goals and the means for achieving them. PlanningA plan is a blueprint for action. PlanningFundamentals of ManagementSource: Management by Richard Daft (2005)