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Chapter 7
Planning
and
Goal Setting
Learning Outcomes
After studying this chapter, you should be able to:
1. Define goals and plans and explain the relationship between them.
2. Explain the concept of organizational mission and how it influences
goal setting and planning.
3. Categorize the types of goals an organization should have.
4. Explain how managers use strategy map to align goals.
5. Define the characteristics of effective goals.
6. Outline the four essential steps in the management-by-objectives
(MBO) process.
7. Compare and contrast single-use-plans standing plans.
8. Discuss the benefits and limitation of planning.
9. Describe contingency planning, scenario building, and crisis planning,
and explain the importance of each for today’s managers.
10. Identify innovative planning approaches that managers use in a fast-
changing environment.
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Plan
A blueprint for goal achievement and specifies the
necessary resource allocations, schedules, tasks, and
other actions.
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3
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Mission
• The Organization’s reason for existence.
Mission Statement
• A broadly stated definition of purpose that
distinguishes the organization from others of a
similar types.
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5
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Management-By-Objectives (MBO)
MBO
Focuses manager
Aligns individual
and employee Can improve
Improves and
efforts on performance
employee departmental
activities that will at all company
motivation. goals with
lead to goal levels
company goals
attainment.
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8
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