The Functions of Management
Assignment: 3-1:Submission - Answer the following of questions:
1- Describe the function of planning and its importance in the strategic management process.
Planning & Strategic Management planning, which we previously defined as setting goals and deciding how to achieve them. Another definition: Planning is coping with uncertainty by formulating future courses of action to achieve specified results.
strategic management is a process that involves managers from all parts of the organization-top managers, middle managers, and first-line managers-in the formulation, implementation, and execution of strategies and strategic goals to advance the purposes of the organization.
Thus, planning covers not only strategic planning (done by top managers) but also tactical planning
(done by middle managers) and operational planning (done by first-line managers). Planning and strategic management derive from an organization's mission and vision about itself.
How Planning Helps You: Four Benefits:
Planning Helps You Check on Your Progress .
Planning Helps You Coordinate Activities.
Planning Helps You Think Ahead.
Above All, Planning Helps You Cope with Uncertainty.
2- Discuss the functions and purpose of an organization's vision and mission statement in planning.
The planning process begins with two attributes: a mission statement (which answers the question "What is our reason for being?") and a vision statement (which answers the question "What do we want to become?").
The Mission Statement-"What Is Our Reason for Being?" An organization's mission is its purpose or reason for being. Determining the mission is the responsibility of top management and the board of directors. It is up to them to formulate a mission statement, which expresses the purpose of the organization. The Vision Statement-"What Do We Want to Become?" A vision is a long-term goal describing what an organization wants to become. It is a
1- Describe the function of planning and its importance in the strategic management process.
Planning & Strategic Management planning, which we previously defined as setting goals and deciding how to achieve them. Another definition: Planning is coping with uncertainty by formulating future courses of action to achieve specified results.
strategic management is a process that involves managers from all parts of the organization-top managers, middle managers, and first-line managers-in the formulation, implementation, and execution of strategies and strategic goals to advance the purposes of the organization.
Thus, planning covers not only strategic planning (done by top managers) but also tactical planning
(done by middle managers) and operational planning (done by first-line managers). Planning and strategic management derive from an organization's mission and vision about itself.
How Planning Helps You: Four Benefits:
Planning Helps You Check on Your Progress .
Planning Helps You Coordinate Activities.
Planning Helps You Think Ahead.
Above All, Planning Helps You Cope with Uncertainty.
2- Discuss the functions and purpose of an organization's vision and mission statement in planning.
The planning process begins with two attributes: a mission statement (which answers the question "What is our reason for being?") and a vision statement (which answers the question "What do we want to become?").
The Mission Statement-"What Is Our Reason for Being?" An organization's mission is its purpose or reason for being. Determining the mission is the responsibility of top management and the board of directors. It is up to them to formulate a mission statement, which expresses the purpose of the organization. The Vision Statement-"What Do We Want to Become?" A vision is a long-term goal describing what an organization wants to become. It is a