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1、CHAPTER 3 The Foundations of Planning8/8/20221Learning Objectives-1Define planningExplain the potential benefits of planningIdentify the potential drawbacks of planningCompare strategic and tactical plansCompare directional and specific plans8/8/20222Learning Objectives-2Discuss Management by Object

2、ivesOutline the strategic management processDescribe the four grand strategiesExplain SWOT analysisLearn how entrepreneurs and bureaucratic managers approach strategy8/8/20223Reduce theImpact of ChangeProvideDirectionMinimize Wasteor RedundancySet ControlStandardsReasonsfor Planning8/8/20224Argument

3、sAgainstStrategicPlanningRigid Assumptions of StabilityIntuitionand CreativityDynamicEnvironmentFocus on Todays CompetitionSuccess lead to Failure8/8/20225Does Planning Improve Performance?Financial resultsQuality and implementationEnvironmental constraints8/8/20226ObjectivesTime FrameScopeHow Do St

4、rategic and Tactical Plans Differ?8/8/20227The Time Frame of PlanningShort-TermPlansLong-TermPlans8/8/20228Specific PlansDirectional PlansClearGeneralLowHighFlexibilityObjectives8/8/20229Single-Use and Standing PlansUniqueSituationsOngoingOperations8/8/202210OrganizationalObjectivesDivisionalObjecti

5、vesDepartmentalObjectivesIndividualObjectivesWhat Is Management by Objectives?8/8/202211Common MBO Elements GoalSpecificityExplicitTime PeriodParticipativeDecision MakingPerformanceFeedback8/8/202212GoalDifficulty Does MBOWork?GoalSpecificity Top Management Participation 8/8/202213Setting Employee O

6、bjectivesIdentify key job tasksSet specific hard goalsLet employees participatePrioritize goalsBuild in feedbackReward goal attainment8/8/202214The Downside of ObjectivesQuality ofProductsQuantity ofProductsIndividualEffortTeam FocusPotentialImprovementContinuousImprovement8/8/202215Set Mission,Obje

7、ctives, and StrategiesFormulateStrategiesAnalyze theEnvironmentIdentify Opportunitiesand ThreatsAnalyze ResourcesIdentifyStrengths andWeaknessesReassessMission andObjectivesImplementStrategiesEvaluateResultsThe Strategic Management Process8/8/202216Starting the StrategicManagement ProcessStrategiesO

8、bjectivesMission8/8/202217Competitive IntelligenceEnvironmentalScanningAnalyzing theEnvironment8/8/202218SWOTAnalysisWeaknessesThreatsOpportunitiesStrengths8/8/202219Identifying OpportunitiesOpportunities inthe EnvironmentOrganizationsResourcesOrganizationsOpportunities8/8/202220RetrenchmentCombinat

9、ionThe Grand StrategiesStabilityGrowth8/8/202221Determining ACompetitive StrategyDifferentiationCostLeadershipFocus8/8/202222ImplementationEvaluationWhat HappensAfter StrategiesAre Formulated?8/8/202223BenchmarkingQuality As A StrategicWeaponISO 9000Six Sigma8/8/202224The EntrepreneurialPersonalityOtherImportantFactorsThreeCriticalFactorsCommonPersonalityTraits8/8/202225Comparing Entrepreneurs and Traditional Managers Traditional Rewards Short-Term Goals Delegate/Supervise Low Avoidance Primary Motivation Time Orientation Activity Ri

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