Elizabeth Arden
Become the fastest-growing prestigious cosmetics company
New products
Meet the needs of baby boomers
Rise 25% in sales a year
Step3 Goal and Plan Evl Analysis
Examine the current condition that impacts the company and its business environment.
Company Consumers Product offering Competitive Environment Market Conditions Other factors of influence: Legal, Political… Problems/Opportunities
That’s All !!
Class 2 Group 6
Decision makers must evaluate the advantages, disadvantages, and potential effects of each alternative goal and plan.
or
Step4 Goal and Plan Selection
The planner is now in a position to select the most appropriate and feasible goals and plans. A different contingency plan is attached to each scenario. If the situational contingencies change, the work unit is prepared to switch to another scenario set of plans.
Step5 Implementation
Once managers have selected the goals and plans, they must implement the plans designed to achieve the goals. In order to make the implementation phase more effective and efficient, both managers and employees should participate in the previous steps of the planning process. Because they usually are better informed, more committed, and more highly motivated when a goal or plan is one that they helped develop.
Finally, successful implementation requires that the plan is linked to other systems in the organization, particularly the budget and reward systems.
e.g. A major medical center
Its information from external groups includes: •Consumers •Physicians •Government •Regulatory agencies •Insurance companies •Other hospitals
Step6 Monitor and Control
Planning is an ongoing, repetitive process, so managers must continually monitor the actual performance of their work units according to the unit’s goals and plans. Also, they must develop control systems that allow the organization to take corrective action when the plans are implemented improperly or when the situation changes.
Class 2 Group 6
Definition
Planning is the conscious, systematic process of making decision about goals and activities that an individual, group, work unit, or organization will pursue in the future.
The Formal Planning Process
Situational Analysis Alternative Goals and Plans Goal and Plan Evaluation Goal and Plan Selection Implementation Monitor and Control
Step2 Alternative Goals and Plans Base on the situational analysis, managers and employees should assume a broad perspective to generate a range of alternative goals that may be pursued in the future and the alternative plans that may be used to achieve those goals.