...LEVELS OF CORPORATE PLANNING AND INNOVATION Name: Institution: Date: Executive Summary One student in an Executive MBA class based his response on introduction of a self scanner in checkout terminals in a British supermarket to an assignment that required them to link a significant innovation that an organisation had 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...
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...Report On Structure of MIS Submitted By: Navneet Bajwa IT and Telecom Roll No. :- 03 INDEX Introduction | 3 | Physical components of MIS | 4 | Conceptual Components of MIS | 5 | Structure Based on Management Activity | 6 | Structure Based on Organizational Functions | 12 | Applications Based on MIS | 18 | References | 20 | Introduction Management information system broadly refers to a computer-based system that provides managers with the tools to organize, evaluate and efficiently manage departments within an organization. MIS, or Management Information Systems, are used to manage the data created within the structure of a particular business. These systems store the data and allow the business to manipulate this data. It is the study of people, technology, organizations and the relationship among them. MIS can be defined as the study of how individuals, groups and organizations evaluate, design, implement, manage and utilize systems to generate information to improve efficiency and effectiveness of decision making. The concept of MIS gives high regard to the individual and his ability to use information. While analyzing the data, it relies on many academic disciplines. These include the theories, principles and concepts from the Management Science, Psychology and Human Behavior, making the MID more effective...
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...her pursuit of company goals, which include operational, tactical and strategic. If you think about these three types of plans as stepping stones, you can see how their relationship to one another aids in the achievement of organizational goals. Operational plans are necessary to attain tactical plans and tactical plans lead to the achievement of strategic plans. Then, in true planning fashion, there are also plans to backup plans that fail. These are known as contingency plans. Strategic plans are designed with the entire organization in mind and begin with an organization's mission. Top-level managers, such as CEOs or presidents, will design and execute strategic plans to paint a picture of the desired future and long-term goals of the organization. Essentially, strategic plans look ahead to where the organization wants to be in three, five, even ten years. Strategic plans, provided by top-level managers, serve as the framework for lower-level planning ("Types of Planning", 2015). Now that you have a general idea for how organizational planning evolves, let's look at the next level of planning, known as tactical planning. Tactical plans support strategic plans by translating them into specific plans relevant to a distinct area of the organization. Tactical plans are concerned with the responsibility and functionality of lower-level departments to fulfill their parts of the strategic plan ("Types of Planning", 2015). Operational plans sit at the bottom of the totem pole; they...
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...the four types of planning used by managers, including strategic, tactical, operational and contingency planning. Terms, such as single-use plans, continuing plans, policy, procedure and rule, will also be defined. Planning to PlanHave you ever heard the saying 'Those who fail to plan, plan to fail'? While I can't speak to all facets of life, this is certainly true in business. Managers find themselves planning for all sorts of things. So much so, that planning is one of the four major functions of management. In doing so, a manager can be certain that he or she is working toward some organization goal. There are three main types of plans that a manager will use in his or her pursuit of company goals, which include operational, tactical and strategic. If you think about these three types of plans as stepping stones, you can see how their relationship to one another aids in the achievement of organizational goals. Operational plans are necessary to attain tactical plans and tactical plans lead to the achievement of strategic plans. Then, in true planning fashion, there are also plans to backup plans that fail. These are known as contingency plans. To better understand how each type of plan is used by managers, let's take a look at an example from Nino's Pizzeria and how Tommy, Martha and Frank carry out their planning responsibilities. Strategic PlansTo best understand the relationship between the different types of plans, let's start at the top. Strategic plans are designed...
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...Implementing Strategic Management Processes to Manage Change within the Canadian Forces Military Police Scott A. Shannon MMPA 6465 - Strategic Planning: Collaboration, Cooperation & Coordination Walden University 25 November 2012 Abstract As a public organization, the Canadian Forces Military Police exist to deliver services defined by public policy. As an organization designed to deliver public services, this organization operates in an environment that is subject to frequent change due to situational variables defined by government policy and often, fiscal restraints due to reductions in public spending by government. Such change requires planning; therefore, this review will generally discuss the use of defined strategic planning processes within the organizational structure of the Canadian Forces Military Police. More specifically, this review will discuss various processes for defining operational mandates, defining strategic requirements to manage change, developing tactical implementation plans and strategies for implementing and monitoring the implementation of planned systems of change. Implementing Strategic Management Processes to Manage Change within the Canadian Forces Military Police The Canadian Forces Military Police (CFMP) is a component division of the Department of National Defence and is responsible for providing “professional police, security and operational support services” (CFPM) to the Canadian Forces worldwide. As a vital...
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...Introduction Benjamin Franklin is accredited for the saying “By failing to prepare, you are preparing to fail.” Winston Churchill is accredited for saying "He who fails to plan is planning to fail." Both are correct and relevant in today’s business environment. Planning is the cornerstone of any successful business. Today’s planning is governed by two leading processes, strategic and operational planning. I will review the attributes that both plans embody with relations to SWOT analysis conducted on Liberty Global Inc. Strategic and Operational plans for Liberty Global Inc. Strategic planning is a top-down approach provided by top management that defines; goals, objectives, and direction of the organizations for the next three to five years (Robbins & Coulter, 2012). It lays the foundations for growth, improving productivity, and to improve return on investment for the organization’s investors. Operational planning details how the organization will accomplish the goals, objectives, and strategies outlined in the strategic plan. Operational planning is a bottom-up approach that addresses the needs and performance of the organization in the short-term, one-year and under. It addresses the question, what are we going to do this year and how. The operational plan should be reviewed on a regular basis to ensure that it is on target. Liberty Global is the leading international cable operator. The company operates in 13 countries across Europe and in Chile. The company has...
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...supplemented by controlling system. Controlling is a collection of methods of strategic management, planning, accounting, analysis and control, aimed at the achievement of the goals. The controlling system of economic governance is widely used in developed countries. The need for the use of controlling one of the following reasons: 1) Increasing external instability Wednesday, causing increased requirements in the management of the Organization; 2) The need to increase the Organization's responsiveness to the changing external Wednesday; 3) The need for the Organization of the framework of action to ensure the survival of the Organization and to the avoidance of crises. The...
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...STRATEGIC MANAGEMENT AND OPERATIONAL GUIDELINES A User Guide for Public Sector Auditors in the Pacific Developed by PASAI in 2012 Pacific Association of Supreme Audit Institutions (PASAI): Strategic Management and Operational Guidelines Pacific Association of Supreme Audit Institutions (PASAI) 2 Pacific Association of Supreme Audit Institutions (PASAI): Strategic Management and Operational Guidelines Foreword The purpose of these guidelines is to provide assistance for Pacific Association of Supreme Audit Institutions (PASAI) members, especially heads of SAIs and managers to carry out their functions strategically, tactically and operationally. They do this by introducing the basics of planning, examining the types of objectives and differentiating the types of plans consisting of the corporate plan, strategic plan, business plan and operational plan for the management of their offices. PASAI recognises the importance of having these strategic management plans as it is top level management’s responsibility to define the SAI’s positions, formulate strategies and guide long term organisational activities. This is one of PASAI’s initiatives aimed at developing SAIs within the region. The guidelines have been produced to assist PASAI members in the effective, efficient and economic planning and management of their resources annually and in the long term. It provides guidance to SAIs in establishing and enhancing their strategic management functions. The guidelines...
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...The Importance of Strategic Planning in Banking Performance: An Analyzing Examination Jia Li Abstract This paper explains the definition of Strategic Planning and how it is important in banking performance. As the comparison between Strategic Planning and Operational Planning, we get a general idea that Strategic Planning need to be considered and configured first when it comes to business planning. This paper also conducted a SWOT analysis to identify internal and external factors to eliminate risk of failure for a company. Introduction With the continuous development of the world economy and the trend in economic globalization, strategic planning has been attached into great importance and applied into various fields. Studies explain how strategic planning is related to financial performance, and Hopkins used LISREL analysis explained how people have never realized the gap between SP and Banking Performance (Hopkins pp.635-652). In this paper we will be analyzing the importance of having strategic planning in banking performance by SWOT analysis. Study Foundations First of all, what is Strategic Planning (SP)? SP is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources pursue this strategy. There are four key components in SP, which are Vision – what do we want to do, Mission – what might we do, Value – for whom do we do it, and Strategy – what should we do (Wiki). Vision outlines what the...
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...Organizational Planning Erin Guzik MGT June 29, 2015 Robert Bloomfield Organizational Planning Strategic and operational planning are vital in the success of an organization. Strategic planning can be defined as a long term planning that focuses on high level strategies, ignoring day to day details of operations; it sets the direction of the organization. Components of a typical strategic plan would include mission statements, generic statements of corporate goals, and a financial plan for longer than five years, and goals, besides financial one, along with how to measure those goals. Strategic planning is developed at the executive or senior management level, and is implemented from the top down. The use is implemented through policies, procedures, and rules in addition to measuring, monitoring, and possibly auditing to ensure compliance in achieving and succeeding in goals developed from the plan. Strategic planning also considers the goals and priorities of the stakeholders. Whereas, operational planning is more detailed information that considers the day-to-day operations of the organization. Operational planning gives specific plans to employees on how to reach goals successfully. Operational planning is used by the front line employees, whereas strategic planning is used more by the executives and top level managers of an organization (Robbins, S.P., & Coulter, M. (2012). Throughout this paper The Kellogg Company will be analyzed. The Kellogg Company was established...
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...Business Proposal Organizational Planning Sheldon Martinez MGT/521 March 15, 2014 Anthony De veto Organizational Planning Netflix has become a very popular Internet-based choice for consumers who watch movies and television shows. Since the company started more than fifteen years ago, it identified and capitalized on the way television consumers prefer to watch movies and television. Netflix recognized that preference was quite simple, which is to watch television programs and movies without interruption from advertisements that you cannot escape when watching regular television. Since 1998, Netflix has set goals, implemented plans and strategies to become the leader of television network on the Internet and to maintain that industry position. This paper will examine the company’s strengths, weakness, opportunities, and threats analysis (SWOT) as well as recommend a strategic and operational plan to ensure Netflix remain the leader in Internet television networking. SWOT ANALYSIS A SWOT, which is strengths, weaknesses, opportunities, and threats analysis is a snapshot assessment of the current state of the company. It can highlight what the company does well or better than others as well as present the things the organization does poorly and areas in which improvements are necessary. Such analysis can also determine the various opportunities that a company can capitalize on. Just as important as the previous reasons, the analysis can provide information...
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...Evaluate the planning function of management as it relates to the organization’s goals and strategies. Use steps in the planning process outlined in the text. • Analyze the influence that legal issues, ethics, and corporate social responsibility have had on management planning at BP. Provide at least one example for each. • Analyze at least three factors that influence the company's strategic, tactical, operational, and contingency planning. Planning Part of the management function that involves setting goals and deciding how to best achieve them is called planning. Setting goals and developing plans helps the organization to move in a focused direction while operating in an efficient and effective manner. Strategies or plans are then developed for moving the organization closer to its goals. Types of Planning There are four types of planning a company can use; strategic, tactical, operational and contingency planning. Planning is part of making a decision and a manager can use the following types of planning in making short and long term decisions for a company. Strategic Strategic planning is an “organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people” (Bradford & Duncan, 2000). Strategic planning is the formal consideration of an organization's future course, usually anything that is a period of greater than three years. All strategic planning...
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...goals of Tyco is providing quality service to its customers by providing new technology solutions, operational excellence, and providing the highest standards of business practices, which will drive Tyco’s long-term growth (Tyco, 2011). Tyco seek to achieve governance; to abide by the highest governance by setting up practices to ensure compliance and accountability. Tyco make sure to fully understand and meet customer’s needs, focus on ways to increase growth, builds on the business reputation and will a company of choice, implement best operating practices, and making sure all financial matters of the company are met. Tyco feels that governance will help the company to put in measures that will encourage staff members to ensure that the integrity of the company shows in the work and the distribution of Tyco products (Tyco, 2011). In order to remain successful Tyco’s must use methods of placing policies within the departments, so that staff members will know what is expected from them. These policies will state the exact task of each staff member to ensure a positive image of the company. Lacking of the governance, would lead to the company not being able to make a pleasant statement to each of the staff members about what is expected of them. Staff members knowing what is expected of them will assure the long-term success of the company. Planning of Management Planning of management include many steps that must be followed so that any business can maintain efficiency...
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...Running Head: STRATEGIC & FINANCIAL PLANNING OF FROEDERT HOSPITAL Strategic & Financial Planning of Froedert Hospital [Name of the writer] [Name of the institution] [Page Break]Strategic & Financial Planning of Froedert Hospital Thesis Statement The purpose of this assignment is to analyze the financial & business administration of Froedert Hospital to develop a draft action plan to improve the business of the organization. (Suzanne, 1993) Introduction Produce regular performance & financial plans is an essential component of planning & analytical work of the companies. Operational planning can reduce irrational use of funds of the company by the timely planning of business operations, inventory, financial flows & monitoring their actual implementation. Operational planning is still a weak point of business management of the U.S. health care organizations. About the Organization Froedtert Hospital is a 500-bed academic medical center containing workforce being provided by the staff of The Medical College of Wisconsin. The hospital has been honored with the prestigious Magnet title given by the U.S. Nurses. It works as an eastern Wisconsin recommendation center for higher remedial practice care consisting of thirty seven areas of expertise & subspecialties. (Suzanne, 1993) Objectives of Strategic & Financial Planning...
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...1.0 Introduction Planning plays a vital role for any organisation to function effectively. According to C. W. Rooney (2000, as cited in Ahmad, Ramli, Nalimi, Aziz & Raghavan, 2011), planning in an organisation serves two purposes; to protect the organisation and to increase the favourable levels of an organisation. This means that when planning is carried out, the manager is able to forecast the effects from each of the suggestions or alternative actions that will be implemented. It also involves the How, Why, When and Who method. Determining objectives and identifying methods to achieve the said objectives, defines planning (Ahmad et al., 2011). According to Williams (2001, as cited in Ahmad et al., 2011), effective planning constitutes five main processes which are determining the objectives that are needed to be achieved, building individual commitment towards achieving the objectives, forming action plans, monitoring progress as well as maintaining flexibility. Planning is divided into three types which are based on format, hierarchy, and frequency of use. Format based planning includes descriptive, budget and graphics. On the other hand, strategic, tactical and operational plans are plans are based on hierarchy. One time-usage and standing plan are categorised by the frequency of use. Organisational Hierarchy Planning is divided into three types; which is the Strategic Plan, the Tactical Plan, and the Operational Plan. Strategic plans are often carried...
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