...Principles Colorado State University – Global Campus Dr. Doeford Shirley January 4, 2015 Every existing organization has a leadership. Every leader has a goal, and usually it is connected with establishing and developing effective strategy which will be helping the achievement of the company’s goals. Humankind has practiced in many and different planning strategies during its existence. Apparently some of them have been more successful than others. However, the most common techniques that are used and proved to be effective are known as strategic planning and tactical planning. In my opinion the planning in our days is with tremendous importance for companies’ well-functioning. Many factors will play role in companies’ functioning. Some are preventable and predictable, while others are quite surprising. However, having a plan of action can be in great benefit. The negative impact always can be minimized by having proper plan, or if we anticipate positive circumstances to happen the benefits we can obtain will be even greater. From historical point of view it is proven that strategic planning is more appropriate for accomplishing long term goals. Basically strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, and ensure that employees and other stakeholders are working toward common goals. During this process the management is in charge of assessing and adjusting the direction of the organization...
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...introduced with strategic change in the organisation. The student failed the assignment. This report will examine the reasons why the student failed by looking at the differences between strategic, tactical and operational planning. The report analyses what causes the strategic changes in an organisation and what qualifies as strategic change. The report also discusses innovation and the different levels of innovation. This report also discusses whether the student was right to classify self-scanner checkout terminals as a significant innovation that could be linked to strategic change in the organisation. Table of Contents Executive Summary 2 1 Introduction 4 1.1 Business Policy 4 1.2 Strategic Change 4 2 Strategic, Tactical and Operational Planning 5 2.1 Statement of the Objective 5 2.2 Differences between Strategic, Tactical and Operational Planning 5 3 Innovation 8 3.1 What is Innovation? 8 3.2 Impact of innovation on growth strategies 10 4 Conclusion 11 Introduction This report will identify reasons the student failed his assignment by looking at the levels of planning and strategic change as well as innovation. The first part of this report discusses in detail the three levels of planning: strategic, tactical and operational planning. The characteristics of each type of planning are given and comparisons are made. Clear differences and distinctions are made among these types of organisational planning...
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...from these impacts, and the overall objective is simple; to grow, to profit, and be competitive. A business must have a roadmap, a set of guidelines to provide direction. This is “the plan”, a strategy of an organization. Having a solid strategy can be the game changer for the success of a business. The strategy maps out the objectives and goals which align with the organizations vision. The following discusses the three types of goals, and suggests why these goals are important to the strategy of an organization. The content will discuss types of planning as they are important to the strategy, as well as examine elements and factors involved in creating an effective strategy. Three Types of Goals Goals may be defined as a set of steps to reach on common goal. However there are types of goals which are used to achieve specific objectives, and designed for each level of hierarchy. There are short term goals, goals which are intermediate, and the long term goals. In business, planning includes Strategic, Tactical, and Operational goals. Whatever the term, goals are the means to an end, the steps to take to meet one objective…the finish line. According to Kinicki (2016), “goals are arranged in a hierarchy known as a means-end chain because in the chain of management (operational, tactical, strategic) the accomplishment of low-level goals is the means...
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...products and services to residential and commercial customers. Those products range from electronic security and alarm monitoring to fire-fighting equipment and breathing apparatus, and from water purification and flow control solutions to galvanized steel tubes and armored wire and cable (Tyco International, 2009). Tyco was founded in 1960 as a research laboratory that provided experimental research for the government. Since Tyco has grown into five segments. Tyco has a goal oriented management plan which affects legal and ethical issues, corporate social responsibility and influences the company’s strategic, tactical, operational, and contingency plan. Planning is analyzing a situation, determining the goals that will be pursued, and deciding in advance the actions needed to pursue these goals (Bateman & Snell, 132). Tyco has been around for many years and has many companies vested in them. They have executed their planning very well to this point. Tyco’s main goal is to make sure their customers are happy. Their mission statement states they thrive to be the leader in every market that they serve. They set their goals high and plan ahead of time to exceed their commitments and continuously provide new technology. Tyco adheres to the highest standards of corporate governance by establishing processes and practices that promote and ensure integrity, compliance and accountability. They fully understand and exceed their customers’ needs, wants and preferences and provide greater...
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...Topic 3 Chapter 5: Planning: The Foundation of Successful Management TOPIC 3 LEARNING OUTCOME TLO 1: To discuss the various types of uncertainties faced by an organization. TLO 2: To discuss the role of planning in handling uncertainties. TLO 3: To discuss the fundamentals of planning. TLO 4: To apply planning skills to set SMART goals and implement Management by Objectives. PLANNING Planning: previously defined as setting goals and deciding how to achieve them Another definition: Planning is coping with uncertainty by formulating future courses of action to achieve specified results. WHY NOT PLAN? Planning requires you to set aside time to do it You may have to make some decisions without a lot of time to plan THE BENEFITS OF PLANNING 1) Planning helps you check on your progress 2) Planning helps you coordinate activities 3) Planning helps you think ahead 4) Above all, planning helps you cope with uncertainty THREE TYPES OF UNCERTAINTY State Uncertainty: when the environment is considered unpredictable. Effect Uncertainty: when the effects of environmental changes are unpredictable. Response Uncertainty: when the consequences of a decision are uncertain. RESPONDING TO UNCERTAINTY Defenders: are experts at producing and selling narrowly defined products and services. Prospectors: focus on developing new markets or services and in seeking out...
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...Management Planning Paper MGT/330 March 29, 2010 Abstract This paper will provide readers with a history of Tyco International Ltd. while evaluating the planning function of the organization. We will be identifying the social responsibilities which impact what they have on the management planning function. This paper will also review the three factors which influence the company’s strategic, tactical, operational and contingency planning. In conclusion, the reader will be more aware of Tyco and how the planning functions made this company what it is today. Tyco is a name many consumers recognize with quality, excellence, and trust. Management Planning Paper With more than 100,000employees worldwide and serving customers in over 60 countries, Tyco International Ltd is a well diversified company. Founded in 1960 by Arthur J. Rosenburg, Ph.D.. Arthur started a research laboratory while conducting research for the government. In 1962, Tyco Laboratories was incorporated and its focus was on high-end materials and energy producing products for the commercial sector. Today Tyco is composed of five business segments: ADT Worldwide, Fire Protection Services, Safety Products, Flow Control, and Electrical and Metal Products. With these five business segments, Tyco wants to be the first choice for it’s customers in every market. With exceeding commitments, technology solutions, diverse brands, driving operational excellence and committed to offering its customers...
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...Management Management planning involves the conscious and systematic process of making decisions about goals and activities individuals and work units will follow to provide value to the shareholders. The planning process involves a six-step process. The first step is to conduct a situational analysis that examines past events, current conditions, and attempts to forecast future needs. The second step is to establish alternative goals and plans. The process should generate alternative goals and alternative plans that can be followed in the future to achieve those goals. Goals are the target for each manager to strive for, need to be specific, measurable, attainable, relevant, and time-bound. Plans are the actions the manager will take to achieve goals. Plans at least should outline alternative actions that lead to the accomplishment of each goal and the resources necessary to meet each goal through those plans. The third step is for managers to evaluate the advantages, disadvantages, and potential effects of each alternative goal and plan. Here goals are prioritized, evaluated for their ability to meet high priority goals, cost and payback...
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...management are very important in the business word and there are certain factors that can affect these functions. Factors that can affect the planning functions are Economic, Political, Social, Cultural, Competition, Legal Issues, Ethics, and technology. Strategic, Tactical, Operational and contingency planning are the planning functions of management. This paper will focus on the planning functions of management and how certain factors affect Boeing’s management planning. The first function of planning is strategic. According to Bateman and Snell (2009) “Strategic planning involves making decisions about the organization’s long-term goals and strategies” (Bateman & Snell, p 137). Tactical planning breaks down broad, long-term goals into specific goals and plans to a specific division of the company. Tactical planning concentrates on major actions that a unity in a company must take to accomplish part of the strategic plan. The time frame for tactical goals is usually up to three years. Operational planning takes place at a lower level part of the company and it occurs when specific procedures and processes are acknowledged. Last the contingency planning is an alternative plan that will be used when the original plan fails because of external environment obstacles (Bateman & Snell, 2009). Boeing is a company that manufactures commercial jetliners, military aircraft, defense, electronic, launch, and communication systems. They are the biggest aerospace company in the...
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...making takes place within the guidelines set by the strategic plan. Data and information Tactical information will be mostly internal with a few external sources being used. Internal information is likely to be function related: for example, how much ‘down time’ a production line must allocate for planned maintenance. Tactical information is used by middle management (employees) when managing or planning projects. The timescale is usually at least between 6 months and 5 years (depending on the scale of the strategic project). Circumstances vary but a small project may have a tactical timescale of between one and six months. Tactical plans have a medium level of detail and will be very specific; they deal with such matters as who is doing what and within what specific budgets and timescales. These plans have medium scope and will address details at the operational level. They will generally have specific objectives and be geared towards implementation by operational level employees. Operational information The lowest level is operational and operational planning takes place based on the tactical plans. The lowest level of management or workers in an organisation implements operational plans. These may be section leaders or foremen in a large organisation or workers such as shop assistants, waiting staff, and kitchen staff, etc., in smaller businesses where there is no supervisory layer. The timescale is usually very short, anything from immediately...
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...and Steve Wozniak, in 1976. Steve Jobs who revolutionized consumer technology, was able to slash expenses from $8.1 billion in 1997 to $5.7 billion in 1999 by outsourcing manufacturing, trimming inventories, shifting 25% of sales to an online store, and slicing the number of distributors from the double digits to two (Bloomberg BusinessWeek, 2000). In addition to outlining Apple’s planning function of management, this paper also discusses legal, ethical, and social responsibility issues that impact Apple Inc. and its success. For example, in 1994, Apple Computer Inc. was in a lawsuit with Microsoft Corporation over patent protection (Sherman, 2010). Finally, the paper will conclude with three factors that influence Apple’s strategic, tactical, operational, and contingency planning. Factors include innovation, profitability, and resources to take...
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...business, the next step is to develop a Strategic Statement or statements for multiple elements of the business. Those elements of the business include the overall business, each operating division of the business and each key functional area of the business. So there would be an overall company Business Strategic Statement, a Division Strategic Statement, and Functional Strategic Statements. The Functions might be Manufacturing, Marketing, Logistics or Supply Chain, Human Resources or other functions important to the success of the business. The levels of Strategic Statements might look like the following: • • • Corporate Strategic Statement Division Strategic Statements Functional Strategic Statements Operating Marketing Technology Systems Research and Development Etc. Each one of the Strategic Statements must be in agreement with the overall corporate or company Strategic Statement and aligned with each other. The...
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...Marketing Presentation Notes / Aug 16, 2014 1, Category- Demand Segmentation, Market Research & Focus Groups, 4P’s Use GE marketing matrix 2. Competition- does not like swats likes individual analysis of competition and what can they kill you with. 3. Company & Competition Compare Together 4. Consumer 5. Customer -Market segmentation - Target markets - Brand loyalty - Customer relationship marketing - Need, want, perceptions, attitudes, behaviors, buying cycle, motivations, CRM Customer & Consumer / Influencers Analysis 6. Centers of Influence 7. Collaborators – Analysis of Collaborators. Do they make or break your product? 8. Context * PESTLE (Perceived Lack, Sociological shifts, technological trends overtime, Legal Regulatory, Environmental) Individual Marketing Plan Chapter 2 Page 28-29 1. Executive Summary 2. Situational Analysis 4 P’s Product (what is the solution not the product) Branding Promotion Provides information and incentives, Price is what they see and value is what they see. & Placement really is access to product or service. Relationships with customer’s reason why you have the business. Acquiring and retaining customers. 3. Marketing Goals, Objectives and Summary 4. Strategic Alternatives 5. Tactical Marketing Plan 6. Exhibits (Summarize exhibits in body) Oct 1 minute per slide Write out what your saying in the body. Uses...
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...amount. The operational managers would begin to look at daily activities of the firms inventory, monitor performance of sales task force and as well as daily scheduling. The tactical managers carry out the programs and plans of senior managers. They are involved with accomplishing top end executives goals that strive towards organizational goals. There main focus is on monthly budgeting, monthly scheduling and personal plans. Extra insight would be with the tactical manager with being charge of sales forecasting and sales management. They would provide extra insight with these because they want to make sure they are penetrating the right market with, the right product, to the right customer. This is a critical step as it is very expensive establishing your organization in a market. Tactical marketing mangers would have extreme impact on the organization’s success due to the fact that their sales research and possible sales forecasting will lead them to potential trends for selling products. The line graph illustrates are sales day by day providing extra insight on the highest for a product, which was the fire extinguisher. Overall, choosing the right market, product and customers have influence on your companies’ success with operational and tactical managers being front and center for all these tactical decisions. 2) Cross-functional accounting systems are a group of individuals are comprised of special abilities that provide value to the organization. It may include...
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... Critically evaluates the marketing planning process Discusses impediments to effective implementation of marketing plan Introduction The leading exponents of the marketing planning have been warned of the communications factors, operational, cultural and managerial in which frequently impede the effective implementation of the marketing planning programmers in the past two decades. (Cravens, 1998; Doyle, 1998; Greenley, 1982; Leeflang and de Mortanges, 1996; McDonald, 1992a, b; 1995; Piercy and Morgan, 1994; Jain, 1993; Simkin, 1996a, b; Verhage and Waarts, 1988). There have some specific guidance are offered in the recent years to assist marketing managers overcoming those internal organisational and in pre-empting forces (cf. Cravens, 1998; Dibb et al., 1996; Lings, 1999; Piercy, 1997; 1998; Simkin, 2000). Yet, the recent research has shows barriers to the implementation of programmes and marketing strategies. (Dibb and Simkin, 2001; Simkin, 2000). Another key barrier is indicating impeding the deployment of effective marketing practices used to be the lack in most marketing function or either in organisations. (cf. McDonald, 1992a, b; Piercy and Morgan, 1994). The research are shows this is a no longer to the case with the bulkiness businesses professing to have a marketing department undertaking not only promotion and customer research,but are relate to the Kotleresque textbook approach to marketing management (Dibb and Simkin, 1997; Piercy, 2000).the businesses...
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...management function, which includes formulation of one or more thorough plans to attain optimal balance of wants or demands with the available wealth. Planning is a thorough agenda concerning upcoming course of action. In the essay, I will discuss the management planning of Boeing organization. Planning as a purpose of management involves six steps. The first step is the establishment of realistic, acceptable and attainable objectives that should be well-affirmed in terms of quantity. The second is the establishment of planning grounds to find out the business barricade during the course of doing business. These are either internal that are controllable or the uncontrollable external. The third step is choosing the alternative path of action by evaluating the pros and cons in light of availability of resources and organizational requirements hence choosing the best alternative. The fourth step is the forming a derivative plan, which indicates time, schedule and sequence of attaining various tasks and helps in attaining the main plan. The fifth step is securing co-operation by involving the subordinate in decision making, implementation and execution of the plans. This motivates the employees. Step six is plans appraisal. Here, the departmental information or feedback received after the plan has been implemented helps the management in correcting deviation or modifying the plan and ensure more realistic plans that can be accomplished in the future are planned for. It also links...
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