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Lecture 4 
Planning and Goal Setting
Planning is Fundamental 
• All of the other management functions 
stem from planning 
• How do you plan for an undefined 
future? 
• No plan is perfect 
– Without plans and goals, 
organizations flounder 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 2
Goals and Plans 
A goal is a desired future state that the 
organization attempts to realize 
A plan is a blueprint for goal 
achievement and specifies the 
necessary resource allocations, 
schedules, tasks, and other 
actions 
PLANNING 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 3
7.1 Levels of Goals and Plans 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 4
7.2 The Organizational 
Planning Process 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 5
Goal Setting in Organizations 
• Organizational Mission – the organization’s 
reason for existence 
• Strategic goals – official goals, broad 
statements describing the organization’s 
future 
• Strategic plans – define the action steps the 
company will take 
• Goals should be aligned 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 6
7.4 A Strategy Map for 
Aligning Goals 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 7
Operational Planning 
• Direct employees and resources 
• Guide efficient and effective performance 
• Includes planning approaches: 
– Management by Objectives (MBO) 
– Single-Use Plans 
– Standing Plans 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 8
7.5 Criteria for Effective 
Goal Setting 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 9
7.6 Model of the MBO Process 
• Defined in 1954 by Peter Drucker 
• Method for defining and monitoring goals 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 10
7.7 MBO Benefits 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 11
Single-Use and Standing Plans 
Single-Use Plans 
– Achieve one-time goal 
– Programs and Projects 
Standing Plans 
– Ongoing plans 
– Policies, rules, procedures 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 12
Types of Single-Use and 
Standing Plans 
• Single-Use Plans 
– Program: building new headquarters, converting 
paper files to digital 
– Project: renovating the office, setting up a new 
company intranet 
• Standing Plans 
– Policy 
– Rule 
– Procedure 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 13
Benefits and Limitations 
of Planning 
• Goals and plans provide a source of motivation and 
commitment 
• Goals and plans guide resource allocation 
• Goals and plans are a guide to action 
• Goals and plans set a standard of performance 
• Goals and plans can create a false sense of certainty 
• Goals and plans may cause rigidity in a turbulent 
environment 
• Goals and plans can get in the way of intuition and 
creativity 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 14
Planning for a Turbulent Environment 
• Contingency Planning 
– Planning for emergencies, setbacks, or unexpected 
conditions 
• Building Scenarios 
– A forecasting technique to look at current trends and 
visualize future possibilities 
• Crisis Planning 
– Sudden, devastating, unexpected events 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 15
7.9 Essentials Stages of 
Crisis Planning 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 16
Set Stretch Goals for Excellence 
• Stretch goals are highly ambitious 
• Clear, compelling, and imaginative 
• Require innovation 
• Goals must be seen as achievable 
• Like Big Hairy Audacious Goals (BHAG) from 1996 
article on building your vision 
• As times move faster and become more 
turbulent, these are important 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 17
7.10 A Performance Dashboard 
for Planning 
Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 18

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Fundamental of Management. Lecture 4

  • 1. Lecture 4 Planning and Goal Setting
  • 2. Planning is Fundamental • All of the other management functions stem from planning • How do you plan for an undefined future? • No plan is perfect – Without plans and goals, organizations flounder Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 2
  • 3. Goals and Plans A goal is a desired future state that the organization attempts to realize A plan is a blueprint for goal achievement and specifies the necessary resource allocations, schedules, tasks, and other actions PLANNING Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 3
  • 4. 7.1 Levels of Goals and Plans Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 4
  • 5. 7.2 The Organizational Planning Process Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 5
  • 6. Goal Setting in Organizations • Organizational Mission – the organization’s reason for existence • Strategic goals – official goals, broad statements describing the organization’s future • Strategic plans – define the action steps the company will take • Goals should be aligned Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 6
  • 7. 7.4 A Strategy Map for Aligning Goals Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 7
  • 8. Operational Planning • Direct employees and resources • Guide efficient and effective performance • Includes planning approaches: – Management by Objectives (MBO) – Single-Use Plans – Standing Plans Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 8
  • 9. 7.5 Criteria for Effective Goal Setting Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 9
  • 10. 7.6 Model of the MBO Process • Defined in 1954 by Peter Drucker • Method for defining and monitoring goals Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 10
  • 11. 7.7 MBO Benefits Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 11
  • 12. Single-Use and Standing Plans Single-Use Plans – Achieve one-time goal – Programs and Projects Standing Plans – Ongoing plans – Policies, rules, procedures Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 12
  • 13. Types of Single-Use and Standing Plans • Single-Use Plans – Program: building new headquarters, converting paper files to digital – Project: renovating the office, setting up a new company intranet • Standing Plans – Policy – Rule – Procedure Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 13
  • 14. Benefits and Limitations of Planning • Goals and plans provide a source of motivation and commitment • Goals and plans guide resource allocation • Goals and plans are a guide to action • Goals and plans set a standard of performance • Goals and plans can create a false sense of certainty • Goals and plans may cause rigidity in a turbulent environment • Goals and plans can get in the way of intuition and creativity Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 14
  • 15. Planning for a Turbulent Environment • Contingency Planning – Planning for emergencies, setbacks, or unexpected conditions • Building Scenarios – A forecasting technique to look at current trends and visualize future possibilities • Crisis Planning – Sudden, devastating, unexpected events Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 15
  • 16. 7.9 Essentials Stages of Crisis Planning Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 16
  • 17. Set Stretch Goals for Excellence • Stretch goals are highly ambitious • Clear, compelling, and imaginative • Require innovation • Goals must be seen as achievable • Like Big Hairy Audacious Goals (BHAG) from 1996 article on building your vision • As times move faster and become more turbulent, these are important Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 17
  • 18. 7.10 A Performance Dashboard for Planning Copyright ©2012 by South-Western, a division of Cengage Learning. All rights reserved. 18