7–2 L E A R N I N G O U T L I N E Follow this Learning Outline as you read and study this chapter. What Is Planning? Define planning. Differentiate between formal and informal planning. Why Do Managers Plan? Describe the purposes of planning. Discussl the conclusions from studies of the relationship between planning and performance. How Do Managers Plan? Define goals and plans. Describe the types of anizations might have. Explain why it’s important to know anization’s stated and real goals. 7–3 L E A R N I N G O U T L I N E (cont’d) Follow this Learning Outline as you read and study this chapter. How Do Managers Plan? (cont’d) Describe each of the different types of plans. Establishing Goals and Developing Plans Discuss how traditional goal setting works. Explain the concept of the means–end chain. Describe the management by objective (MBO) approach. Describe the characteristics of well-designed goals. Explain the steps in setting goals. Discuss the contingency factors that affect planning. Describe the approaches to planning. 7–4 L E A R N I N G O U T L I N E (cont’d) Follow this Learning Outline as you read and study this chapter. Contemporary Issues in Planning Explain the criticisms of planning and whether or not they’re valid. Describe how managers can effectively plan in today’s dynamic environment. 7–5 What Is Planning? Planning A primary functional managerial activity that involves: Defining anization’s goals Establishing an overall strategy for achieving those goals Developing prehensive set of plans to integrate and anizational work. Types of planning Informal: not written down, short-term focus; specific to anizational unit. Formal: written, specific, and long-term focus, involves shared goals for anization. 7–6 Why Do Managers Plan? Purposes of Planning Provides direction Reduces uncertainty Minimizes waste and redundancy Sets the standards for controlling 7–7 Planning and Performance The Relationship Between Planning And Performance