Planning Is The Process Of Determining Appropriate Goals And Courses Of Action

1401 WordsOct 11, 20166 Pages
1. One thing I’ve learned from this chapter is that planning is the process of determining appropriate goals and courses of action. Once a plan has been created the next step is to design a strategy. A strategy is a series or managerial decisions that help managers obtain organizational goals. For most organizations, there are three steps to planning. The first step is the creation of a mission statement. A mission statement is essential for a company to clearly communicate what it does and how it does it with outside investors and people in general. A mission statement is a broad statement of what a company’s purpose is as well as what the company does (i.e. selling goods or services) and who they do it with (i.e. people of certain demographic or geographic location). The next phase in the planning process is formulating a strategy. Formulating a strategy is done by examining a company’s present situation and creating strategies to overcome any challenges facing the company. This method gives people from different departments direction which is advantageous when attempting to achieve the company’s desired future state. The final step in the planning process is implementing the strategy. The strategy is implemented by managers who allocate resources and responsibilities to people and groups within an organization in the most efficient and effective manner possible im order to achieve the company’s goals. After a strategy has been implemented managers look at the results. If

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