tailieunhanh - Lecture Introduction to management - Lecture 16

After studying this chapter you will be able to understand: Intuition, types of problems & decision making, decision making conditions, common decision making errors & biases, what is planning? types of plans. | Introduction to Management LECTURE 16: Introduction to Management MGT 101 1 Introduction to Management In lecture 15 we discussed Topics from Chapter 7: What is Planning? Types of Plans 2 Introduction to Management Today in Chapter 7 we will discuss Setting Goals & Developing Plans Approaches of Planning 3 Introduction to Management (Chapter 7) Chapter 7: Foundations of Planning 4 Introduction to Management (Chapter 7) Setting Goals & Developing Plans 5 Introduction to Management (Chapter 7) 6 Traditional Goal Setting Broad goals are set at the top of the organization. Goals are then broken into sub-goals for each organizational level. Introduction to Management (Chapter 7) 7 Traditional Goal Setting Assumes that top management knows best because they can see the “big picture.” Goals are intended to direct and guide. Introduction to Management (Chapter 7) 8 Traditional Goal Setting Goals lose clarity and focus as lower-level managers attempt to interpret and define the goals for their areas of responsibility. Introduction to Management (Chapter 7) 9 The Downside of Traditional Goal Setting Introduction to Management (Chapter 7) 10 Maintaining the Hierarchy of Goals Means–Ends Chain The integrated network of goals that results from establishing a clearly-defined hierarchy of organizational goals. Achievement of lower-level goals is the means by which to reach higher-level goals (ends). Introduction to Management (Chapter 7) 11 Management By Objectives (MBO) Specific performance goals are jointly determined by employees and managers. Introduction to Management (Chapter 7) 12 Management By Objectives (MBO) Progress toward accomplishing goals is periodically reviewed. Rewards are allocated on the basis of progress towards the goals. Introduction to Management (Chapter 7) 13 Management By Objectives (MBO) Key elements of MBO: Goal specificity Participative decision making Explicit performance/evaluation period Feedback Introduction to Management (Chapter 7) 14 The . | Introduction to Management LECTURE 16: Introduction to Management MGT 101 1 Introduction to Management In lecture 15 we discussed Topics from Chapter 7: What is Planning? Types of Plans 2 Introduction to Management Today in Chapter 7 we will discuss Setting Goals & Developing Plans Approaches of Planning 3 Introduction to Management (Chapter 7) Chapter 7: Foundations of Planning 4 Introduction to Management (Chapter 7) Setting Goals & Developing Plans 5 Introduction to Management (Chapter 7) 6 Traditional Goal Setting Broad goals are set at the top of the organization. Goals are then broken into sub-goals for each organizational level. Introduction to Management (Chapter 7) 7 Traditional Goal Setting Assumes that top management knows best because they can see the “big picture.” Goals are intended to direct and guide. Introduction to Management (Chapter 7) 8 Traditional Goal Setting Goals lose clarity and focus as lower-level managers attempt to interpret and define the goals for their