Chapter 7: Planning and Controlling

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The Planning Process

• There are 5 steps involved in the Planning
  Process

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1. Set Objectives

• Objectives must be
• Specific
• Measurable
• Actionable (but challenging)
• Realistic
• Timely

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1. Set Objectives

• Example
• I want to get in shape.

I want to lose weight.
I want to lose 10lbs.
I want to lose 10lbs by Christmas.
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1. Set Objectives

• Two types of corporate objectives
• 1. Financial Objectives

Decrease production costs of Nike Womens
apparel by 10 within the next 18 months.
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1. Set Objectives

• Two types of corporate objectives
• 2. Strategic Objectives

Enter one new international market with 10 Nike
running shoe products within the next year.
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2. Where do you stand vs. your objectives?

• Evaluate your internal strengths and weaknesses.
• Nikes strengths? Weaknesses?

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3. Anticipate Future Conditions

• What could happen externally to help or hinder
  success?

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4. Generate Alternative Plans

• How can we meet our objectives?
• Deal with a local retailer to carry Nike shoes
• Open a Nike store
• Buy a competitor

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5. Implementation

• Choose the best plan and outline the steps as to
  how it will work.
• Plan Open a Nike store
• Select a destination country
• Negotiate with government
• Select a location
• Purchase site
• Find building contractor

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The Planning Process Activity
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• Task Teams will be given a number of pictures
  in a random order. When arranged properly the
  pictures tell a distinct story.

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• Each group will have 5-10 minutes to
• 1. Set SMART Objectives
• 2. Determine their team strengths and weaknesses
• 3. Think of at least 1 future condition that
  could help or hinder success
• 4. Write out how you will implement your plan of
  action

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• Once this plan is approved, the team will get
  their pictures and can begin arranging them.
• They can ask to have their pictures checked 4
  times will be given a correct or incorrect
  answer. If they do not succeed in any of the 4
  attempts then they are eliminated.
• The first team to correctly order the pictures
  wins.