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Strategic plan quizlet
Strategic plan quizlet
Essence of strategic planning
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“Organisations that fail to plan are planning to fail.” Critically discuss this statement. Businesses do not plan to fail, they fail to plan. In my opinion, the planning process is a vital component towards successful operation of any business, thus i believe the above statement to be correct. According to Stephen Chapman, planning is defined as ‘the process of setting targets and deciding how to achieve them. It acts as a link between the business owner’s ideas and the actual operation of the business’. (2011 pg. 396) It is a managerial and leadership task and is such an integral part of managing a business, especially in today’s rapidly changing environment. The contemporary business environment is dynamic, ever-changing and increasingly competitive. Their is potential for success, but even more for failure. Businesses are heavily influenced by the changing organisational environment and this intern creates much uncertainty for managers and organisations. With increasing uncertainty in the external environment, the more important it is that managers engage in continual planning. (Robbins 2012 p. 32) Businesses must be flexible and evolve in accordance with their external environment. Planning aims to reduce uncertainty. It does this by forcing managers to look ahead, anticipate change, consider the impact of change and develop appropriate responses. (Robbins 2012) Through attempted monitoring of conditions in a changing environment, one is able to respond quicker to new information and new circumstances, thereby becoming more flexible. In addition, having the environment under constant observation enables managers to analyse how the organisation will differentiate itself from its competitors, therefore facilitating more chan... ... middle of paper ... ...s/actiontrumpseverything/2013/05/19/if-you-want-to-be-successful-dont-spend-too-much-time-planning-a-case-study>. Chapman, S, Devenish, N 2011, Business Studies in Action, 3rd ed, John Wiley & Sons Australia, Milton, Qld. Dorando-Unkle, M 1995, ‘Business Planning: The Key to Success’, Occupational therapy in health care, vol. 9, no. 3, pp. 121-131. Lange, J., Mollov, A., Pearlmutter, M., Singh, S. and Bygrave, W 2007, ‘Pre-start-up formal business plans and post-start-up performance: A study of 116 new ventures’, Venture Capital, vol. 27, no. 3, pp. 385-399. Robbins, S, DeCenzo, D, Coulter, M and Woods, M 2014, Management: The Essentials, 2nd ed, Pearson, Frenchs Forest, NSW. Schlesinger, L., Kiefer, C. and Brown, P 2012, Just start, 1st ed, Harvard Business Review Press, Boston. Simerson, B 2011, Strategic planning, 1st ed, Praeger, Santa Barbara, California.
Robbins, S. P., & Coulter. M. (2014). Management (12th ed.). Retrieved from: Colorado Technical University eBook Collection database.
George, Jennifer M. "Chapter 12." Contemporary Management. By Gareth R. Jones 8e ed.N.p.: n.p., n.d. 366-400. Print.
Robbins, S. P., & Coulter, M. (2007). Management (9th ed.). Upper Saddle River, NJ: Pearson Education, Inc.
Pearce II, J. A., & Robinson, R. B. (2011). Strategic Management 12th Ed. New York: McGraw-Hill/Irwin.
Robbins, S. P., Decenzo, D. A., & Coulter. M. (2013). Fundamentals of Management (8th ed.). Upper Saddle River, NJ: Pearson.
& J. D. Hunger (12th ed.), Strategic management and business policy (pp. 29-1 – 29-23).
Sloman, J; Jones, E (2005). Economics and the Business Environment. 3rd ed.: Pearson Education Limited. 35, 48, 53.
Robbins, S., Decenzo, D., & Coulter, M. (2013). Fundamentals of management. Upper Saddle River, NJ: Pearson Education, Inc.
Robbins, S, DeCenzo, D, Coulter, M & Woods, M 2011, Management: The Essentials, Pearson Australia, NSW, Australia, 1st Edition
Robbins, S.P., & Coulter, M. (2009). Management (10th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.
Robbins, S, DeCenzo, D, Coulter, M, Woods, M 2011, Management the essentials, Pearson Education, New South Wales.
The next purpose of the Business Plan is to allow the entreprenuer to view and evaluate the proposed businessventure in an objective critical and practical manner .The collpase of many business ventures can be attributed to the decisions and planning of thye entreprenuers who rely more on emotions and gut feeling rather than objective and rational considerations .With a Business Plan the entreprenuer has solid and well-grounded information to supplement the planning and decision making
As Schermerhorn states in Management planning, organizing, leading, and controlling are the tools needed by managers to accomplish performance goals. It is crucial that managers be able to recognize and act upon problems or opportunities as they arise. Planning is perhaps the cornerstone of the four processes. All good processes were at some point given great detail so as to anticipate possible problems and solutions to those problems. When the Honda Motor Company decided it needed to refine its inventory they didn't just jump at the first idea that was proposed; they first set their objectives and discussed ways to meet those objectives. After giving careful consideration to processes and the streamlining of those processes human error rose as the top need for change. Sounds simple you might respond; in reality it is much more complicated.
Pinson, L. (2004). Anatomy of a Business Plan: A Step-by-Step Guide to Building a Business
Waddell, D, Jones, G & George, J 2014, Contemporary Management, 3rd edn, McGraw Hill Education,