Week 4 Planning - Goals (1)

Zunaira Saqb NBS

Week 4

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Telecom Sector

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Discuss the nature and purposes of planning and goals

SWOT Analysis Compare and contrast approaches to goal

setting and planning Discuss planning types Discuss issues in planning

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Planning is often called the primary management function because it establishes the basis for all the other things managers do

It’s concerned with ends (what is to be done) as well as with means (how it’s to be done)

Do all organizations plan?

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SWOT Analysis ◦ The combined external and internal analyses

Strengths◦ Any activities the organization does well or any

unique resources that it has

Weaknesses◦ Activities the organization doesn’t do well or

resources it needs but doesn’t possess

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Opportunities◦ Positive trends in the external environment

Threats◦ Negative trends in the external environment

Leave BlankStrengths – S

List Strengths

Weaknesses – W

List Weaknesses

Opportunities – O

List Opportunities

SO Strategies

Use strengths to take advantage of opportunities

WO Strategies

Overcoming weaknesses by taking advantage of

opportunities

Threats – T

List Threats

ST Strategies

Use strengths to avoid threats

WT Strategies

Minimize weaknesses and avoid threats

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Goals (objectives)◦ Desired outcomes or targets

Plans◦ Documents that outline how goals are going to

be met

◦ Planning = Goals + Plans

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S.M.A.R.T Goals Specific Measureable Attainable Realistic Timely

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“I want to have a lot of money”. “I want to make one million within 10 years by starting an internet

marketing business selling personal development products all over the world and by providing life coaching consultancy and conducting live seminars.”

“I want to lose weight”. “I want to lose 20 pounds by April 15th 2016. I will perform a half hour

of cardio and half hour of strength training per day, 5 times a week and I will only eat starchy carbohydrates 3 times a week.”

“I want to write a book”. “I want to write a work book on “How to add 10 years to your life” that

is at least 150 pages in length and get it completed by June 30th 2014. I will write at least 4 pages every weekday until I complete the book.”

http://www.goalsettingstrategies.com/smart_goals.html

http://www.goalsettingstrategies.com/smart_goals.html

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Real Goals◦ Those goals an organization actually pursues as

shown by what the organization’s members are doing

Traditional Goal Setting◦ Goals set by top managers flow down through the

organization and become sub-goals for each organizational area

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Mission Statement

Strategic

Tactical

Operational

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Mission Statement: The organization’s reason for existence

A Good mission statement: •What are we selling?•Who are we serving?• Distinguishes one firm from another• Declares the firm’s reason for being

“Tameer-e-Millat Foundation aims to provide quality education to every individual, in all academic and professional disciplines, without discrimination of gender, race, religion, socio-economic status and ethnicity.”

Mission Statement Examples

-- Tameer-e-Millat Foundation, Pakistan

“To be the best cellular company for U”


--Ufone, Pakistan

Build Branded food business to improve quality of life by offering tasty, affordable and highly nutritional products to our consumers while maximizing stake holders' value


--Haleeb Foods, Pakistan

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Strategic Goals and Plans◦ Plans that apply to the entire organization and

encompass the organization’s overall goals

◦ A company’s ceo plans the following strategic goals for the next year

◦ Restoring Citigroup bruised reputation◦ Building up investment banking◦ Expanding overseas

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Tactical Goals and Plans◦ Plans that specify the details of how the overall

goals are to be achieved

◦ Plans and goals which define how major departments/divisions are going to achieve their goals.

◦ “to achieve higher sales during the Christmas period company will hire 200 new customer service executives and run 12/12 hours shifts”

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Operational Goals and Plans◦ Specific and measureable – designed for the lower

level of the lower level of the organization

◦ Plans and goals deigned to be achieved on daily and weekly basis

◦ “achieving 90% KPI in the first week of September for HR department”

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Long-term Plans◦ Plans with a time frame beyond three years

Short-term Plans◦ Plans with a time frame of one year or less

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Specific Plans◦ Plans that are clearly defined and leave no room

for interpretation

Directional Plans◦ Plans that are flexible and set general guidelines

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Single-use Plan◦ A one-time plan specifically designed to meet the

needs of a unique situation

Standing Plans◦ Plans that are ongoing and provide guidance for

activities performed repeatedly

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