MGT/230 Week 3 Presentation Essay

642 WordsNov 22, 20133 Pages
Week 3 Team Reflection Summary MGT/230 Week two gave us an inside look on what the six steps are during the planning process. These steps are situational analysis, alternative goals and plans, goal and plan evaluation, goal and plan selection, implementation, and finally monitor and control. The step that Tina, Joanne, and Chris thought was most important in the planning process was the role of setting up alternative goals and plans. They believe it is always a good idea to have an alternative plan just in case the original plan did not achieve the intended goal. We all were able to agree that having a backup plan was a great way of running a business. Joanne states when opening a new business, using these six steps is…show more content…
Having organizational structure also entails having what is called an organization chart. An organization chart is a diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs. Sherill believes you need an organization chart so that you are aware of who to report to. Where Sherill is currently employed, has not had anything set up this way in a few years. People are not sure who they are to report to and often report to whoever they feel like. She has seen a few employees leave the company for other jobs because they felt that their job lacked structure and it was difficult for them to work in a place like that. Lynda went on to discuss how she feels with budgeting being a factor in the planning process; it is likely that a plan without a budget established would be at risk of not being successful. Chris also notices in his workplace that budgeting played a huge role and must be focused on. As long as money is being controlled and resources are within reach, a business can have plans and goals. The control of money and the ability to budget is the glue that holds a business together, even when sales decrease. For instance, you have a short in sales one month, the last thing you want is someone being irresponsible with where money is being spent otherwise you may never
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