...1.0 INTRODUCTION : 1.1 Definition Terry has defined planning in terms of future course of action. He says that: “Planning is the selection and relating of facts and making and using of assumptions regarding the future in the visualization and formalization of proposed activities believed necessary to achieve desired result”. A plan is a blueprint for goal achievement that specifies the necessary resource allocations, schedules, tasks, and other actions. A goal is a desired future state that the organization attempts to realize. Goals are important because an organization exists for a purpose, and goals define and state that purpose. Goals specify future ends; plans specify today's means. The word planning incorporates both ideas: It means determining the organization's goals and defining the means for achieving them. Planning allows managers the opportunity to adjust to the environment instead of merely reacting to it. Planning increases the possibility of survival in business by actively anticipating and managing the risks that may occur in the future. In short, planning is preparing for tomorrow, today. It's the activity that allows managers to determine what they want and how they will achieve it. Not only does planning provide direction and a unity of purpose for organizations, it also answers six basic questions in regard to any activity: • • • • What needs to be accomplished? When is the deadline? Where will this be done? Who will be responsible for it? •...
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...Management Planning Paper MGT/330 November 15, 2010 Management Planning Paper The planning functions of 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...
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...New York stock exchange in 1974. Tyco not only believes that providing excellent services to the customers but that the company should practices and ensures integrity, compliance, and accountability to all parties involved in the success if the business. A company as large as Tyco International has to put much thought into the management, and the planning aspects of the business. The company operates all over the world and the company has to adapt to the different cultures and business ethics of each Country. Tyco not only operates its own business but also manages other companies. Tyco has six goals the company seeks to achieve. Governance, Operational Excellence, Growth, Financial Strength, and Flexibility, Teamwork, Culture, and Customers. Tyco has exceeded its commitment in all of these areas and believe that it has assisted in the long term growth of the company and any continued success (Tyco International Ltd, n.d., table Mission and Goals). Tyco International has 12 main management teams that seem to operate as a divisional structure that has smaller structures that operate under the main structure as a functional structure. The main management team that operates as a divisional product structure or conglomerate...
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...Management Planning Management: Theory, Practice and Application/330 Management Planning Planning is identifying the goals to be accomplished and making a decision to move forward the suitable actions needed to achieve those goals (Bateman and Snell, 2009). Examples of planning may include examining current situation, predicting the future, establishing goals, choose what types of activities one will engage, and selecting the resources needed to achieve the said goals (Bateman and Snell, 2009). In order for a company to be successful, the organization must have a systematic process of making decisions about goals and activities that the group will pursue in order to achieve its objectives. Furthermore, planning is an effort that is directed and controlled by managers of an organization and draws on the knowledge and experience of employee’s throughout the organization (Bateman and Snell, 2009). This paper will discuss the planning functions of management within Apple Inc. Apple Inc., was co-founded by Steve Jobs 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...
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...Management Planning Shana Stefanski 9/27/10 Course: MGT/330 Peter Grove University of Phoenix Management Planning Wal-Mart is the world’s largest retailer with $345 billion in sales in 2007 (Stumblerz, 2009). Being the world’s largest retailer store it is very necessary for Wal-Mart to have good management, plans, and goals. Without good management then Wal-Mart would not run as well as it does. There are some legal issues Wal-Mart runs into over the years, but they are very well taken care of. Management at Wal-Mart are people who have earned their place as management and are aware of their responsibilities and the other employees responsibilities as well. With the appropriate goals set Wal-Mart is going to make it a long way in this economy. Wal-Mart’s management has the authority to assign duties and responsibilities to other employee’s. The other employee’s that are being assigned responsibilities are usually subordinates within the managements group. While the other employees are responsible for completing the duties it is still managements responsibility to make sure the duties were completed and completed correctly. Delegation occurs within Wal-Mart from the regional management to store manager to assistant manager all the way down to the staff members (free online research papers, n.d.). The Walton family controls 40% of Wal-Mart and they delegate assignment of authority and responsibility to their lower level management to oversee the employees to carry out...
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...Management Planning There is no larger aerospace company in the world than Boeing. With over 160,000 employees spread across the world in 70 countries, Boeing needs to have an accurate set of functions and a very thoroughly thought out management plan. Boeing makes advanced communication and information systems, military, as well as commercial air craft, provides NASA with launch vehicles and satellites. Boeing also worked with Lockheed Martin on building and maintaining the Space Shuttle since 1981. This partnership between Lockheed Martin and Boeing is called The United States Alliance. Boeings leaders created tactical, operational, and strategic plans that help them define and accomplish the goals they set. The factors that influence the operational, strategic, tactical, and contingency planning are issues that come from their ethical, social, and legal responsibilities. It is in this planning that a complex design that has to obey regulations, social influences, and laws while seeking a profitable operation. Management Planning With the ensuing difficulty of the 9/11 attacks in 2001, many people were questioning airline safety, safety in general in the skies, and aircraft sales. Boeing’s management had to reevaluate their business plan and rethink goals to face a new market place that had changed forever. Despite few vendors making aircraft, and with an ever-changing economic environment, Boeing had to change to keep up and to be successful. Management structure and...
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...Management Planning -Halliburton Halliburton was founded in1919 and is one of the world’s largest providers of products and services to the energy industry (Halliburton, 2011). Halliburton has operations in 80 countries and employs over 60,000 people. Its operations consist of two subdivisions, Completion and Production and Drilling and Evaluation that distribute cementing, stimulation, intervention and completion services. The Drilling and Evaluation subdivision provides field and reservoir modeling, drilling, evaluation, and well construction solutions that allow customers to model, measure, and optimize their well placement permanence (Halliburton, 2011). This includes drilling services, wireline, fluid services, drill bits, software asset solutions, and project management services. Halliburton offers an assortment of products and services, therefore, making production and development of oil and gas profitable. Planning function of management Management is the process of working with people and resources to accomplish organizational goals (Bateman & Snell, 2009). Halliburton is managed by a Board of Directors who are responsible for the planning functions at all levels within the business. The Board of Directors believes that the primary responsibility of the Directors is to provide effective governance over Halliburton’s affairs for the benefit of its stockholders (Halliburton, 2011). Halliburton’s action plans are focused on clients, customers, stockholders...
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...Management Planning Paper Name MGT/330 Date Professor Without a good management planning team, a company can and will fail at being successful. Planning is a very important part of any company, but the Boeing Corporation makes planning a focus of everyday operation. The Boeing Corporation is an aerospace company that produces satellites, commercial and military aircrafts, weapons, launch systems, weapons, advanced information and communication systems and also performance-based logistics and training. The Boeing Corporation has so many divisions in the company that it is divided into two business units. One of the most interesting aspects of the company is that is a major service provider to NASA. The Boeing Corporation operates and Space Shuttle and International Space Station. The company has key programs for space exploration in more than one location. The locations include, but not limited to Alabama, California, Florida, and Houston. The Boeing Corporation employs nearly one hundred and sixty thousand employees both in the United States and overseas. Because the Boeing Corporation is so huge, there is need to produce new innovating ideas in order to head off the competition. This organization is faced with challenges daily on what and how to produce the products that will fit the needs of the consumer. The Boeing 787 Dreamliner is the perfect example of the future product in which the company is currently building. “The Boeing 787 Dreamliner is said to be the world’s...
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...Management Planning Lynette Gibson MGT/330 December 5, 2011 University of Phoenix Alvin Swanson Management planning consists of a systematic activity within an organization that determines who will and how to perform a specific job. Management planning is a detailed course of future actions the organization will engage into obtain successful organizational goals. The management planning process takes the perspective available individuals, and physical resources within the organization into consideration for the organization to achieve effective contribution, coordination, and perfect adjustments for organizational success. This paper will evaluate the planning functions of Boeing. Boeing is the largest manufacture of military planes and commercial jetliners and “One of the world’s” leading aerospace companies. Boeing specializes in manufacturing and designing of defense systems, communication systems, launch vehicles, and various other systems. Boeing operates the International Space Station and the Space Shuttle National Aeronautic Space Administration (NASA), Boeing functions of management is the important factor to the success of the company. Boeing Management Planning Functions Boeing has many departments therefore lack of planning would place the company in a vulnerable position for failure to motivate employees and meet deadlines. Boeing has developed a very unusual organizational structure, which assumes two business solutions tied together with nine levels...
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...Management Planning Paper (Halliburton) Antwon Snyder University of Phoenix Axia Management Planning Paper The planning function of management is very important for the sustainability of businesses. Planning is essential for businesses and their employees to function efficiently and maintain profit levels. In addition, management has to assess their current companies and determine what steps are to be made in the future. In the event of problems, managers should follow procedures to continue functioning. In this paper, Halliburton will be discussed, and their planning functions. In addition, legal issues, ethics, and corporate responsibility will be discussed pertaining to management planning. Additionally, three factors that influence Halliburton’s strategic, tactical, operational, and contingency planning will be discussed. Ultimately, efficient planning is the key to success for businesses and organizations. Halliburton is one of the world's largest providers of products and services to the oil and gas industries. Halliburton is also the world’s second oil and gas operation, and it functions in more than 75 countries. In addition, Halliburton has many branches and affiliates that deal with companies all around the world. The company is based in Houston, Texas, and also has agencies in Dubai and the United Arab Emirates. In recent years, Halliburton has been in a few scandals that has hurt their reputation. As a result, the public has view Halliburton...
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...Management Planning MGT/330 October 17, 2011 Planning Function of Management Boeing Corporation is a massive and complicated company, which requires management planning. Boeing is a leading maker of high-end aircraft for commercial, military, satellites, and missiles. These aircraft are necessary to carry cargo and passengers. Boeing is a global company that serves customers all over the world. There are strict regulations for companies such as Boeing due to the safety and performance concerns with air travel. Because of strict regulations Boeing has to conduct extensive planning so they can operate efficiently. For Boeing business planning is a very complicated process that is influenced by many internal and external factors. Boeing has remained successful over the years because of their strong ethics and planning abilities. Boeings planning function of management is the process of setting goals and objectives for the company to achieve over a set period of time. It is vital to the success of Boeing’s plans to include activities and tasks that upon completion will ensure they reach their goals. It is also necessary to take into account variables and unexpected occurrences that may hinder goals. For Boeing it is vital for each major department to use this method of planning. Boeing is still successfully efficient because they set goals in each major departments such as: sales, engineering, product testing, and all other departments. For every goal Boeing has a set of...
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...Management Planning at Boeing Brian Newton MGT/330 December 1st, 2014 Steven Friloux Management Planning at Boeing To be successful in today’s competitive business world, organization and strong leadership is key. At The Boeing Company, this is no different. As one of the largest corporations in the world, they strive to set goals and plan a future around reaching those goals in a way that they can be the most prosperous. In the complex business economy of today, there are always influences that affect the way leadership paves the way. Issues regarding legality, ethics, and responsibility that follow being a major corporation are just a few. These play a major role in strategic, tactical, operational, as well as contingency planning. The Boeing Company and its leadership continually reach toward improving the organization, and the daily planning is inspired by numerous factors that shape who they are. Planning Functions Having an organized plan can be important to success and growth of a company, and Boeing follows the basic template of the planning process. It begins with the initial goal to be set, followed by an evaluation of the situation to determine what resources will be needed. This analysis is drawn from different areas such as past and current work conditions and how they can improve. A derivative plan is also brought to the table before finalizing the final decision. And lastly is...
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...Management Planning MGT/330 Management Planning Proper planning permits organizations to develop into the type of business that will meet the needs of the customer, the company, and the environment. As opposed to just focusing on profits, companies need to focus on the need for expertise and experience needed to take on important issues such as legal issues, business ethics, and corporate social responsibility. Management structure helps them accomplish this goal. It is wise to consult professionals experienced in these fields to counsel upper management on these issues. A proper business plan is needed in order for a company or organization to evolve. In this paper I will cover corporate social responsibility on planning, the influences of legal issues, business ethics, the influences of legal issues, the planning function of management, and analyzes at least three factors that influence the company's operational, strategic, tactical, and contingency planning. The Planning Function of Management Boeing is a multinational company that started in 1916 as the Pacific Aero Products Company. The management plan that William Boeing started has continuously evolved with the times as the function of Boeing Company has changed. In the beginning William Boeing had to secure a loan using his personal finances in order to pays his employee’s wages. In their early days the Boeing Company produced furniture, dressers, and counters for other businesses. By flying mail...
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...Management Planning MGT 330r6 May 2011 Management Planning Introduction Rockefeller and his associates founded Standard Oil Company in Ohio in the 1850’s. They purchased a three-quarter interest in Vacuum Oil Company, this was purchased in 1879. In 1966 Standard Oil changes its name to Mobil after Standard Oil celebrates 100 years being in business. In 1972 Jersey Standard changes its name to Exxon Corporation with the approval from Jersey Standard shareholders during a special meeting. In 1997 Mobil introduces speedpass an electronic system which activates the pumps and charges credit cards. In November 1999 Exxon and Mobil join to form Exxon Mobil Corporation. This merger is to enhance their ability to be more effective global competitors. Ethic, Legal and Social Responsibility The ethical responsibility at Exxon Mobil is to comply with all governmental laws, rules and regulations. The corporation has chosen to have the highest integrity. Exxon Mobil expects compliance with its standard of integrity throughout the corporation and they will not tolerate any employees who achieve results cost in violation of law or who deal unconscientiously. Exxon Mobil Corporation has been conducting business in a manner that would be compatible for our environment and economic needs, which they operate to protect the communities in the safety, security, and health. The commitment they have for the community has been documented in the safety, security, health, environmental and...
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...Running head: MANAGEMENT PLANNING PAPER Management Planning Paper Fallon Smith Management Planning Paper Tyco International is composed of five business segments: ADT Worldwide, Fire Protection Services, Safety Products, Flow Control, and Electrical and Metal Products. Tyco is a diversified global company that provides a range of 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...
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