defining an organizations goals, establishing an overall strategy for achieving those goals, and developing plans to intergrate and coordinate work activities
why do managers plan?
provides direction
reduces uncertainty
minimizes waste and redundancy
establishes goals or standards used in controlling
strategic plans
plans that apply to an entire organizaton and establish the organization's overall goals
operational plans
plans that encompass a particular operational area of an organization
long-term plans
plans with a time frame beyond three years
short term plans
plans covering one year or less
specific plans
plans that are clearly defined and that leave no room for interpretation
directional plans
plans that are flexible and that set out general guidelines
single-use plan
a one-time plan specifically designed to meet the needs of a unique situation
standing plans
ongoing plans that provide guidance for activities performed repeatedly
traditional goal setting
top[ managers set goals that flow down through the organization and become subgoals for each organizational area
management by objectives MBOs
a process of setting mutually agreed upon goals and using those goals to evaluate employee performance