...Foundations of Planning 1 What Is Planning? • Planning – A primary managerial activity that involves: • Defining the organization’s goals • Establishing an overall strategy for achieving those goals • Developing plans for organizational work activities. – Types of planning • Informal: not written down, short-term focus; specific to an organizational unit. • Formal: written, specific, and long-term focus, involves shared goals for the organization. 2 Why Do Managers Plan? • Purposes of Planning – Provides direction – Reduces uncertainty – Minimizes waste and redundancy – Sets the standards for controlling 3 Planning and Performance • The Relationship Between Planning And Performance – Formal planning is associated with: • Higher profits and returns on assets. • Positive financial results. – The quality of planning and implementation affects performance more than the extent of planning. – The external environment can reduce the impact of planning on performance, – Formal planning must be used for several years before planning begins to affect performance. 4 How Do Managers Plan? • Elements of Planning – Goals (also Objectives) • Desired outcomes for individuals, groups, or entire organizations • Provide direction and evaluation performance criteria – Plans • Documents that outline how goals are to be accomplished • Describe how resources are to be allocated and establish activity schedules 5 Types of Goals • Financial Goals...
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...leadership and organizational change within a unit of a larger organization. As such it provides an important learning experience for students who are already managers or who aspire to that level of responsibility. The primary learning opportunities address building a vision at the unit level, restructuring for success, overcoming resistance to change internally and across other units of a larger corporation, building support with powerful sponsors, and the importance of communication and persistence where authority is limited. The case has a difficulty level appropriate for undergraduate seniors and graduate students, and is designed for courses addressing organizational change, leading change, and leading teams. It can be covered in a one hour class. Preparation for the case is expected to require 3-4 hours. CASE SYNOPSIS The case begins with the recognition by a senior vice-president that the inadequacies of a seemingly insignificant compliance unit could jeopardize the overall growth strategy of BOKF, a large regional bank holding company. Paula Bryant-Ellis agrees to take on the transformation of the CRA department into a modern Community Development Banking Group (CDBG) that will contribute to the overall strategy of BOKF, the parent banking company. The case covers the first two years of significant organizational change, with emphasis on creating a vision, restructuring the organization, and shared leadership at the unit level. For the first three months, Bryant-Ellis...
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...Factors That Contribute to Nurse Manager Retention Mickey L. Parsons, Jana Stonestreet Disclosures Nurs Econ. 2003;21(3) * Print * Email Introduction The purpose of this study was to describe factors that contribute to a health system's successful retention of nurse managers. This study is the first of a series that will provide the foundation for developing the nursing organization as a "health-promoting organization." The background and significance, theoretical framework, study findings, and executive strategies are discussed. The results and implications are intended to guide executive strategies, including organizational interventions, to build the nursing organization for quality patient care and positive working environments. Background and Significance The glue that holds the hospital together are the first-line managers. However, these managers are caught in a crossfire. Torn between multiple needs — patient, the staff, and the administration — nurse managers have been downsized and stretched over multiple units (Curtin, 2001). Nurse managers responsible for multiple units are severely challenged to maintain the needed blend and balance of clinical and business management, which is essential to staff nurse retention. Report after report identifies the importance of the nurse manager in retaining nursing staff (Boyle, Bott, Hansen, Woods, & Taunton, 1999; Corser, 1998; Cullen, 1999; Flannery & Grace, 1999; Fletcher, 2001; Kerfoot, 2000; Leveck...
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...CHAPTER 7 IMPLEMENTING STRATEGIES: MANAGEMENT AND OPERATIONS ISSUES CHAPTER OUTLINE | |The Nature of Strategy Implementation | | |Annual Objectives | | |Policies | | |Resource Allocation | | |Managing Conflict | | |Matching Structure with Strategy | | |Restructuring, Reengineering, and E-Engineering | | |Linking Performance and Pay to Strategies | | |Managing Resistance to Change | | |Creating a Strategy-Supportive Culture | | |Production/Operations Concerns When Implementing...
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... Chapter 6, to p202 (BSZ Chapter 14) o AYB321 Text, Chapter 7 (BSZ Chapter 15) o For reference: Lipe, M and Salterio, S. (2000). The balanced scorecard: Judgemental effects of common and unique performance measures The Accounting Review, 75 (3), 283-389. (on CMD) Overview: Lectures 6 & 7 explore the use of Kaplan and Norton’s Balanced Scorecard (BSC) as a strategic performance measurement and evaluation method. Lecture 6 introduces the BSC by providing the performance measurement context, defining financial and non-financial and lead and lag indicators, and providing an overview of the four perspectives of Kaplan and Norton’s Balanced Scorecard. Lecture 7 explores and demonstrates the process of BSC development via strategy maps and KPI selection, before discussing the key findings of BSC-related research. Lectures 6 & 7 are structured as follows: Lecture 6: 1. Introduction 2. What is the BSC? 3. The four perspectives Lecture 7: 4. Strategy maps 5. Creating a BSC 6. What does the research say? 1. Introduction a) Performance Measurement Performance measurement serves the following purposes: Evaluate performance, and provide rewards Communicate the strategy, plans Allow managers to track their own performance against targets and take corrective action Guide senior managers in developing future strategies and operations. Traditional Performance measurement...
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...quickly. For example, consider the time it might take someone to wash a car for the first time. Then imagine how that person might be able to wash his car in less time as through repetitions he learns to sequence the tasks more efficiently or perhaps as he uses better tools to do the tasks. The same learning effect occurs in many different operational settings. The learning curve is an analytical tool that can be used to estimate the rate at which cumulative experience allows workers to do tasks faster and with less cost. Operations managers use learning curves to estimate how much the repetitions of a task will enable them to reduce the amount of resources required to accomplish the ask. A learning curve is defined by an equation that contains the rate of improvement (i.e., reduction in costs or reduction in time taken) in performing a task as a function of the cumulative repetitions of the task. As early as 1925, managers began developing learning curve concepts. The commander at Wright-Patterson Air Force Base in Dayton, Ohio, observed that workers performing manufacturing operations at the base exhibited a definite learning pattern. He noted that most aircraft manufacturing tasks experienced what he called an 80 percent learning rate, meaning that workers need 20 percent fewer hours to make a part each time their cumulative experience making that part doubled. Thus, if the first part took 100 minutes,...
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...is the conscious, systematic process of making decisions about goals and activities that an individual , group, work unit or org will pursue in the future. Planning is not an informal or haphazard response to a crisis; it is a purposeful effort, directed and controlled by managers, often drawing on the knowledge and experience of employees through out the organization. Planning provides individuals and work units with a clear map to follow in their future activities; at the same time, this map may allow for individual circumstances and changing conditions. Because planning is an important management function, managers at all levels use it. However, the scope and activities of the planning process at each level of the organization often differ. Strategic Planning is the process if analyzing the organization’s external and internal environments; developing a mission and a vision; formulating overall goals; identifying general strategies to be pursued and; allocating resources to achieve the organisation’s goals. In developing strategic plans, managers take an organization wide approach. The overall purpose of strategic planning is to deal effectively with environmental opportunities and threats as they relate to the organisation’s strengths and weaknesses. Strategic planning looks at 7 major areas. The first major element of strategic planning is developing mission, vision and value statements . The mission is the organisation’s purpose or reason for existing. A statement...
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...ACC 560 WK 7 Quiz 10 - All Possible Questions To Purchase Click Link Below: http://strtutorials.com/ACC-560-WK-7-Quiz-10-All-Possible-Questions-026.htm ACC 560 WK 7 Quiz 10 - All Possible Questions TRUE-FALSE STATEMENTS 1. Budget reports comparing actual results with planned objectives should be prepared only once a year. 2. If actual results are different from planned results, the difference must always be investigated by management to achieve effective budgetary control. 3. Certain budget reports are prepared monthly, whereas others are prepared more frequently depending on the activities being monitored. 4. The master budget is not used in the budgetary control process. 5. A master budget is most useful in evaluating a manager's performance in controlling costs. 6. A static budget is one that is geared to one level of activity. 7. A static budget is changed only when actual activity is different from the level of activity expected. 8. A static budget is most useful for evaluating a manager's performance in controlling variable costs. 9. A flexible budget can be prepared for each of the types of budgets included in the master budget. 10. A flexible budget is a series of static budgets at different levels of activities. 11. Flexible budgeting relies on the assumption that unit variable costs will remain constant within the relevant...
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...analysis. L.O.4 Incorporate taxes, multiple products, and alternative cost structures into the CVP analysis. L.O.5 Understand the assumptions and limitations of CVP analysis. C H A P T E R S I N P A R T O N E 1 2 Making Yourself Successful in College Approaching College Reading and Developing a College-Level Vocabulary Approaching College Assignments: Reading Textbooks and Following Directions 3 ✓ Related Resources See pages 000 to 000 of the Annotated Instructor’s Edition for general suggestions related to the chapters in Part One. 1 cor50782_ch01_001-072.indd 1 10/5/09 11:09:2 P A R T I opened U-Develop because I love photography and I wanted to own my own business. I now get to spend most of my day working with employees and customers making sure that the photos they take are the best they can be. It also gives me a chance to encourage younger people who have an interest in photography, because I work with many of the school groups and after-school clubs here in town. That’s the fun part of the job. But I also have to think about the financial side of the business. I need a systematic way to understand the relation between my decisions and my profits. I’ve Orientation read that managers can calculate the price they need to charge to break even (see the In Action item on CVP analysis and airlines). I should be able to apply the same analysis to my business. 1 Preparing and Organizing Yourself for Success in College Jamaal Kidd was discussing the photo-finishing store...
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...definition appears as “the way in which the elements of a whole are arranged”. Throughout the semester, we had studied and analyze the complexities of an organization and how its members interact, what we call organizational behavior. Applying the understandings from the subject in hand, this paper will analyze the organizational structure and set up of my current employer. My contribution for the company comes as a Spa Consultant and has developed into a hands-on position. Given this is a start-up, the company’s financials are merely projections and not available to me. Given the nature of the start-up nature of the project and the non disclosure of financial information the main tools utilized for the analysis of the company are the 7-S Framework analysis, throughout this paper, and the SWOT analysis (see page 18). The project can be described as a new venture in the growing and trendy wellness hospitality industry, a modern and iconic Wellness Retreat located in the foot of the Himalayas in India. The current analysis will explore the leadership style and organizational structure established by a highly visionary, detailed oriented yet inexperienced CEO. But first, lets start by understanding the market we are in. The Wellness Tourism Industry According to the UNWTO World Tourism Barometer, (World Tourism Organization , 2014) the international hospitality and tourism industry grew by 5% in 2013, reaching 1,087 million arrivals. For 2014, UNWTO forecasts 4% to...
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...GlaxoSmithKline and AIDS Drugs for Africa GlaxoSmithKline Pharmaceuticals Ltd Trimester 1 Project – Division D Prepared By (Group 4) :Nakul Agarwal Sanket Guhagarkar Tanvi Gupta Piyush Jain Saurabh Jain (D004) (D020) (D026) (D029) (D030) Table of Contents Company Overview....................................................................................................................... 1 HIV / AIDS in Africa ................................................................................................................... 1 Core interest of GSK in Africa .................................................................................................... 1 Criticism of GSK ......................................................................................................................... 1 Access to Medicine (ATM) Outlook ............................................................................................ 2 Governance .................................................................................................................................... 2 Management Structures....................................................................................................... 3 Performance Management & Incentives ............................................................................. 3 Stakeholder Engagement..................................................................................................... 4 Innovation in General Access to Medicine...
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...ACC 560 WK 7 Quiz 10 - All Possible Questions To Purchase Click Link Below: http://strtutorials.com/ACC-560-WK-7-Quiz-10-All-Possible-Questions-026.htm ACC 560 WK 7 Quiz 10 - All Possible Questions TRUE-FALSE STATEMENTS 1. Budget reports comparing actual results with planned objectives should be prepared only once a year. 2. If actual results are different from planned results, the difference must always be investigated by management to achieve effective budgetary control. 3. Certain budget reports are prepared monthly, whereas others are prepared more frequently depending on the activities being monitored. 4. The master budget is not used in the budgetary control process. 5. A master budget is most useful in evaluating a manager's performance in controlling costs. 6. A static budget is one that is geared to one level of activity. 7. A static budget is changed only when actual activity is different from the level of activity expected. 8. A static budget is most useful for evaluating a manager's performance in controlling variable costs. 9. A flexible budget can be prepared for each of the types of budgets included in the master budget. 10. A flexible budget is a series of static budgets at different levels of activities. 11. Flexible budgeting relies on the assumption that unit variable costs will remain constant within the relevant...
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...concise overview of how an organization can ensure that its compensation strategies are able to support it strategic objectives 5 • Increased skill and flexibility in the workforce 5 • Reduction in traditional demarcations 5 • Increased efficiency 5 • Tangible benefits for workers in return for changes in working practice. 5 c) Provide a set of arguments to support the view that executive pay should be linked to company performance 6 d) What are the advantages of linking employee pay to performance? 6 Provide a 'felt fair' system of rewarding people according to their contribution 6 Higher performance within the organization may result 7 Provides a tangible means of recognizing achievements 7 People understand the performance imperatives of the organization 7 Link between extra pay and extra performance is clear 7 Conclusion 8 References: 8 Introduction In this assignment I will discuss about compensation and benefit management and many aspects of it and how they can affect an organization and about their influences. a) Critically discuss the claim in the above mentioned passage that the most significant trend is the move away from guaranteed compensation to performance related compensation. What are the implications to the organization’s human resource management effectiveness? Performance-Based Remuneration: Krukoff (2006) refers that the performance based remuneration inducement...
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....................................5 3. Organization……………………………………………………………………………………………………………………….6 3.1 Organizational Boundaries and Interfaces…………………………………………………………….…...6 3.1.1 Resource Owners……………………………………………………………………………………………….6 3.1.2 Receivers…………………………………………………………………………………………………….……..6 3.1.3 Cross Functions…………………………………………………………………………………………………..7 3.2 Project Organization…………………………………………………………………………………………………..8 3.2.1 Project Manager…………………………………………………………………………………………….….8 3.2.2 Project Team……………………………………………………………………………………………………..9 4. Schedule and Budget…………………………………………………………………………………………………………10 4.1 Work Breakdown Structure…………………………………………………………………….…………...11 4.2 Schedule and Milestone………………………………………………………………………….……………12 4.3 Budget.......................................................................................................................13 4.4 Development Process…………………………………………………………………………………………..14 4.5 Development Environment…………………………………………………………………………………..15 5. Risk Management…………………………………………………………………………………………………….………..17 6. Communication and Reporting…………………………………………………………………………………….…….19 7. Delivery Plan……………………………………………………………………………………………………………….……..20 7.1 Deliverables and Receiver………….………………………………………………………………….……..20 8. Security...
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...any form or by any means, or stored in a database or retrieval system, without the prior written consent of GLO-BUS Software, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. GLO-BUS: Developing Winning Competitive Strategies Participant’s Guide GLO-BUS Welcome to GLO-BUS. You and your co-managers are taking over the operation of a digital camera company that is in a neck-and-neck race for global market leadership, competing against rival digital camera companies run by other class members. All digital camera-makers presently have the same worldwide market share, although shares vary by company across the four market regions—Europe-Africa, Asia-Pacific, Latin America, and North America. Currently, your company is selling close to 800,000 entry-level cameras and 200,000 multi-featured cameras annually. Prior-year revenues were $206 million and net earnings were $20 million, equal to $2.00 per share of common stock. The company is in sound financial condition, is performing well, and its products are well-regarded by digital camera users. Your company’s board of directors has charged you and your co-managers with developing a winning competitive strategy—one that capitalizes on growing consumer interest in digital cameras, keeps the company in the...
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