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Presentation/PPT
27/08/2022
MY DISCUSSION IS:
What are the types of plans? How are they distinguished from one another? Do you think plans with incremental objectives are more effective than those that contain stretch goals? Why or why not? What role should ethics play with strategic planning? Support your opinion with outside resources.
Guided Response: Respond to at least two of your classmates’ posts. Analyze their discussions by agreeing, disagreeing, or adding other ideas to strengthen the perspective presented in their initial post.
Marvis Nicholson
Aug 28, 2017 Aug 28 at 8am
Managerial Planning
Guided Response:
Respond to at least two of your classmates’ posts. Analyze their discussions by agreeing, disagreeing, or adding other ideas to strengthen the perspective presented in their initial post
The task for this assignment is to discuss managerial planning. Managerial planning can be strategic, tactical, operational or contingent. There are defined aspects to each type of planning. Strategic plans are normally created by your top level of management. The plans show and outline when the long term goals of the business or organization will be for the company. There are the goals for the next three, five and ten years. This is the plan that the lower managers will work to achieve. The tactical planning is used to support the implementation of the strategic plans (Mumford, 2000) . These plans are focused on the accountability and functionality of the people who manage the lower levels. The tactical planning works more on the testing of new processes and the like. Tactical planners create specific calculations that take less time that the strategic planning. Operational planning is the basic level of planning. These are outlines and implemented by the lower levels of management or what some people refer to as frontline management (Mumford, 2000). This planning is focused on procedure and processes. Management is responsible for planning what employees do on a routine basis. The contingency plan is a plan is a plan in in the event that the initial plan fall through or needs to be adjusted.
How are they distinguished from one another?
The plans are distinguished from one another because different levels of management are responsible for putting these plans into action. There are responsible for creating the structure for these plans and putting them into motion.
Do you think plans with incremental objectives are more effective than those that contain stretch goals?
I do feel that incremental objectives re more effective because it allows for small achievements to be recognized. These small achievements assist in keeping people motivated because there are tangible goals being met and recognized. In my opinion, stretch goals can allow people to become discouraged because they do not see change occurring fast enough.
What role should ethics play with strategic planning?
The role of ethics in planning in the set of values, and principles for the organization (Kawaowo, 2017). Ethics being observed helps produces sound business practices that affect customer loyalty.
Akwaowo, Jackson (2017) “Ethics and Strategic Planning†Academia.edu (Links to an external site.)Links to an external site. 2017, Retrieved August 28, 2017
Mumford (Links to an external site.)Links to an external site., M. D. (2000) “Managing creative people: Strategies and tactics for Innovation (Links to an external site.)Links to an external site.,†Human Resources Management Review, 2000. Retrieved August 28, 2017
REPLY TO:
Andrew Corp
Friday Sep 1 at 5:39pm
Managerial planning is something that all managers should know and understand in order to increase production and keep the organizational morale high. The different types of plans are strategic, tactical, and operational. The different plans can also be based off timelines. The text refers to them as “planning time horizons†(Bierman, Ferrell, &Ferrell, 2016). The first planning horizon is known as the long term plans or strategies, the second is the medium range plans or tactics, and the third is short term plans. Each of these are based off of the time that it should take to reach the end result and production goals. The long term plans or strategies is meant for plans that will take three years or more to reach their goals. These plans are typically thought out by the executive management team, which is usually lead by the CEO. This is a long term forecast that sets the strategies and goals that the CEO wants to meet at a timeframe that is three years or longer. An example of a long term strategy is for a vehicle manufacturer to produce and sell the most amount of vehicles in a five year period making them the top of their market share. The medium range plans are those that are established to tackle the goals that are set for between one and three years. The middle managers are usually the ones that develop and instill these plans. They are plans that cover production, economic advantages and things of this nature. Short term plans are those that will effect productivity in the one year or less timeline. This would be for a first line manager at a restaurant to understand what ingredients need to be ordered so that the full menu can be created at any time and the restaurant doesn’t run out of the ingredients needed. The fourth and final type of plan is the contingency plan. This plan is created in the case of either a positive or negative impact. For instance. If a manufacturer is producing a product on a trial basis, and that trial goes either well or does not meet the goals of the company, the contingent plan would be in place to either halt production or to increase production to a more permanent basis. This plan is created to have a faster reaction to the result of the test in either direction that could be needed (Bierman, Ferrell, &Ferrell, 2016).
I think that both stretch goals and incremental objectives both add their value to an organization. I think incremental objectives are best for an organization because it instills to the workers that they are either doing a phenomenal job, meeting the standards, or not meeting the standards. Stretch goals only show one ending of the goal meeting. They either met it or they didn’t meet the goal. Both can be very motivational but in my opinion being reminded of the success on a more constant and regular basis is more motivational than just hearing the end result. According to Mack, The short term goal can be valuable to a company because it shows either growth or progress of the company in reaching their long term goals or objectives (Mack, 2006).
Bierman, L., Ferrell, O. C., & Ferrell, L. (2016). Management: Principles and applications, custom edition [Electronic version]. Solon, OH: Academic Media Solutions.
Mack, S. (2006) The importance of short-term objectives in a business decision. Retrieved from URL: http://smallbusiness.chron.com/importance-shortterm-objectives-business-decision-71116.html
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