Overview of the goal setting and planning process
Institutional goals are superior operating guidelines that direct the effort of employees with the intention of achieving targets. The goals are central elements that guide managers when developing effective plans of action and coordination of activities. It is clear that goals set the pace for performance; furthermore, thy provide direction with the intention of meeting the institutional mission. The development of clear-cut goals with specific deliverables that are measurable and sustainable is paramount in achieving excellence.In only 3 hours we’ll deliver a custom Strategy Development in Management Organization essay written 100% from scratch Get help
According to Miner (2007), short-term goals facilitate the development of a temporary plan of activities while extended goals develop lasting operating criteria. This is to ensure that desirable outcomes are attained based on the institution’s mission. According to researchers, successful performance in institutions is defined by superior planning and adoption of sound policies that are economically viable. It is advisable for managers to formulate better and relevant goals that focus on the institution’s capacity. This is to ensure that the intended mission of the institution shuns complications.
Goal setting in organizations
The process setting of goals in an organization is a central element that influences performance and execution of activities. The clear setting of goals propels innovation and creativity in institutions since clear objectives aid valuable participation of employees in policy formulation. According to McKay (2011), goals are the set targets that guide individuals in attaining their aspirations. An institution cannot operate effectively without clear goals that are economically viable and socially acceptable. Furthermore, goals must be “specific, measurable, attainable and realistic” (SMART) to enable the company to meet its expectations. Unrealistic goals are detrimental and may limit the realization of the institution’s mission. Managers should understand that institutional goals should be ideological and realistic to ensure the availability of proper services that meet the required standards.
According to McKay (2011), planning in institutions entails proper administration of time, allotment of resources, scheduling of activities and designing of superior communication channels. Institutions that focus on growth must follow a clear plan of activities to enhance consistency in service delivery. Effective planning requires adequate understanding of the set goals since the scheduling of activities is influenced by diverse factors that are controlled through adoption of relevant strategies (McKay, 2011). Innovative leaders should formulate effective planning systems with the capacity to ensure consistent development of strategies that boost performance. Planning aids the identification of the institution’s goals and details how the administration will attain the objectives. Consequently, planning gives a clear sequence of the execution of activities and eradicates complications that may lead to confusion.
Benefits and limitations of planning
According to Anthony (2008), planning is advantageous to institutions since it provides a systematic procedure of production and allocation of resources. Managers are obligated to develop effective plans that provide accurate solutions to possible complications, which may compromise performance. In particular, planning clarifies the overall organizational objectives. It facilitates the allocation of work and resources in diverse business units that are critical in ensuring consistency with the recommended standards of production. Blankson (2005) indicates that the planning process develops a positive mindset of workers and makes activities meaningful. This fosters stakeholder participation in making choices and allows the achievement of set targets (Blankson, 2005).
Planning facilitates efficiency and consumption of resources through the development of systematic procedures that are cost effective. Managers are required to embrace conventional planning techniques that that are cost effective, and can identify critical steps in the production system. This limits unwarranted expenditure that may lead to loss. Planning also reduces the risk of uncertainty since it considers major events and the foreseeable activities to avert performance crisis. McKay (2011) stated that the development of effective decisions or policies requires superior planning and evaluation of the available procedures and resources. These major factors need to be considered in achieving exemplary performance.
This helps in channeling and harmonization of employee’s effort in diverse departments. Planning also promotes creativity since it provides requisite guidelines that enable managers to make viable suggestions. Furthermore, it highlights the targets to be met successfully. According to Anthony (2008), planning presents significant limitations that managers should understand appropriately to ensure the realization of decent results. First, planning is an expensive and time-consuming affair that requires immense determination. This is because it requires systematic gathering of data on diverse issues that influence performance, examination and construal of the information. The process requires significant resources and time if credible results are to be achieved to aid policy formulation. Eminent frustration and inaccurate information present major challenges that compromise adoption of pertinent working strategies.Academic experts
available We will write a custom Management essay specifically for you for only $16.00 $11/page Learn more
Planning for a turbulent environment, and innovative approaches to planning
Planning is a performance tool that is paramount in any environment of operation since it enhances coordination of work and allocation of resources (Blankson, 2005). Institutions that seek to improve their competitiveness should adopt more innovative actions to enhance the quality in the production sequence. Planning creates effective distribution of resources and eliminates wastage during turbulent circumstances that require resource maximization (Anthony, 2008). It also aids innovation and the development of creative ideals of production that enhance satisfaction to the consumers. Innovative procedures of enhancing planning include engagement of stakeholders with an aim of integrating diverse opinion to enhance productivity. Teamwork and engagement enable individuals to split ideas on various issues; thus, leading to integration of innovative ideas that are shared. Stakeholder participation also advances creative policy formulation and strategic planning.
How planning relates to strategic planning
Overall planning in the institutions start with the formulation of the general goals by the administrators while strategic planning defines how the company responds to contingency issues. Planning relates to strategic operating guidelines since the concepts ensure efficiency and customer satisfaction. These facilitate the improvement of operating policies that direct the attention of the employees to specific targets. Indeed, strategic planning deals with specific issues that require speedy resolution, for example, emergencies, setbacks or unexpected conditions. It derives its strength from the overall plan that defines holistic procedures and resource distribution.
Strategy development, decision-making models and steps
Strategy development entails superior identification of the institution’s strength and weaknesses to enable formulation of viable performance strategies. This facilitates the adoption of superior mechanism of planning and goal development. Kibby (2001) noted that formulation of viable development strategies and their execution remain noble concepts that managers must adopt.
Basic models that are used in describing the decision-making process are the rationale and normative models. The models present requisite incentives that foster problem identification and generation of viable solutions to complications that influence performance. In particular, rational model gives an excellent performance guideline consisting of a four-step sequence that managers should adopt when formulating decisions. It emphasizes critical thinking and integration of the modern administration practices. The steps that the model prescribes include problem identification, generation of credible solutions, selection of the recommended solutions, implementation, and evaluation of the process.
Similarly, normative model present relevant incentives that facilitate decision- making when the institution is operating under certain constraints. It recognizes that the institutions are characterized by inferior information processing that limits the quantity of data that mangers can hold (Daft & Marcic, 2012). It also presents operating shortcuts that simplify decision-making and the collection of solutions that meet minimum requirements. The models provide vital elements with the capacity to revolutionize operations in the institution. Therefore, administrators should understand the elements to boost the strategy formulation procedure.
According to Daft & Marcic (2012), decision-making is an essential leadership skill that allows structured process and planning. The process entails seven fundamentals that include detailed problem identification and gathering of credible information that allow the adoption of credible decisions. Analysis of the operating situation and appraisal of diverse alternatives also form crucial elements in the process. The elements enable adoption of feasible and desirable options that are sustainable (Blankson, 2005). The development of viable options, selection of preferred alternatives and implementation of the appropriate decisions follow respectively. These steps enable identification of the evident gaps that hamper performance; thus, facilitating the formulation of appropriate solutions.
Decision making framework and why managers make bad decisions
Formulation of superior policies and decisions require critical thinking and innovative mindsets that can adjust to diverse environment. Effective decision-making requires superior evaluation of the institution’s processes and resources to identify the strengths and weakness. This enables accurate identification of the existing gap that limits exemplary performance; furthermore, it facilitates the formulation of accurate policies within the framework’s guidelines (Dyck & Neubert, 2010). Lack of proper evaluation of the institution’s capacity compromises effective decision-making and contributes to the development of inconsistent policies.15% OFF Get your very first custom-written academic paper with 15% off Get discount
Various institutions have been recording dismal performance due to the formulation of poor performance decisions and planning. Indeed, managers make inferior decisions because they lack an innovative mindset, critical thinking capacity and superior interpersonal skills. This lessens their capacity to formulate effective plans and goals that enhance performance. Failure to adhere to the decision-making process and neglecting the viable policy elements depicted in the decision models also contribute to bad leadership.
Anthony, l. (2008). Planning Process & Goal Setting. Web.
Blankson, S. (2005). Planning and goal setting for personal success. S.l: Lulu.com
Daft, R. L., & Marcic, D. (2012). Understanding management. Mason, Ohio: Southwestern
Dyck, B., & Neubert, M. J. (2010). Management: Current practices and new directions. Boston, MA: Houghton Mifflin
Kibby, M. W. (2001). Practical steps for informing literacy instruction: A diagnostic decisionmaking model. Newark, Del: International Reading Association
McKay, D. R. (2011). Goal Setting and the Career Planning Process. Web.Get your customised and 100% plagiarism-free paper on any subject done for only $16.00 $11/page Let us help you
Miner, J. B. (2007). Organizational behavior: 4. Armonk, N.Y: M.E. Sharpe.