management
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Planning involves selecting objectives and actions to achieve them. There are different types of plans like missions, objectives, strategies, policies, procedures, programs and budgets. Setting objectives involves considering opportunities, where and when objectives will be achieved. Alternatives are identified and evaluated based on premises and goals. A course is selected and derivative plans like contingencies are formulated. Objectives should be verifiable and there can be multiple objectives like attracting students, offering degrees, research, and operating as a private school. Management by objectives integrates planning, roles, delegation and controls to achieve goals but can fail without explaining the philosophy or setting goals without considering changes.
management
- 1. PLANNING Essentials of Planning and Managing by Objectives
- 2. Planning: Selecting missions and objectives as well as the actions to achieve them. Choosing a course of action from among alternatives.
- 3. Types of Plans Missions or Purpose : The basic purpose or function or task of an enterprise or agency or any part of it. Synergy Objectives or Goals : The ends or target towards which activity is aimed Strategies: The determination of the basic long-term objectives of an enterprise and the adoption of courses of action and allocation of resources necessary to achieve the goals. Policies: General statements or understanding that guide or channel thinking in decision making. Procedures: Plans that establish a required method of handling future activities. Rules: Spell out specific required actions or no actions, allowing no discretion. Program: A complex of goals, policies, procedures, rules, task, assignments, steps to be taken, resources to be employed and other elements necessary to carry out a given course of action. Budget: A statement of expected results expressed in numerical terms.
- 4. Steps in Planning Being aware of Opportunities: market, competition, what customer want, strength, weakness Setting Objectives: Where, what, when Considering Planning premises: Environment: Internal, External Determining Alternative Courses: Search and identify alternate options Evaluating Alternative Courses: Evaluate the option in light of premises and goals. Rate of return and amount of risk involved. Selecting a course: The point where the plan is adopted. The time for decision making. Formulating Derivate Plans: Fallback, Contingency plans to support the main plan. Quantifying Plans by Budgeting: Allocating resources, making income and expense sheet, Profit Loss Statement and Balance Sheet.
- 5. OBJECTIVES Verifiable Objectives: An objective which one can determine whether was achieved or not achieved by the end of the period. Multiplicity of Objective: Objectives or normally multiple. E.g. Objections of a university? Attracting Students of High Quality Offering basic training in liberal arts and sciences as well as professional fields. Granting post graduate degrees to qualified candidates. Attracting highly regarded professors Discovering and organizing new knowledge through research. Operating as a private school supported through tuitions and gifts of alumni and friends.
- 6. Setting Objectives Verifiable/ Non Verifiable Quantitative/ Qualitative Objective Hierarchy
- 7. Management By Objective A comprehensive managerial system that integrates many key managerial activities in a systematic manner and is consciously directed towards the effective and efficient achievement of organizational and individual objectives. Benefits: Improvement of managing through result oriented planning. Clarification of organizational roles and structures as well as delegation of authority according to results expected of the people occupying the roles. Encouragement of commitment to personal and organizational goals. Development of effective controls that measure results and lead to corrective actions. Failure: Failure to explain the philosophy of MBO to subordinates or giving them guidelines for goal setting. Setting goals without taking into account the premises and environmental changes and may over emphasize quantifiable goals in search of verifiability of objectives.
- 8. Discussion/Activity Session Planning is looking ahead, control is looking back Develop overall objectives for your cricket team, second team and youth team. Inter relate them to form a network.