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Topics for this week

Explain the importance of planning

Identify missions

Explain the roles of goals and objectives

Identify strategiesDefine the different types of forecasting

Describe the Delphi Method

Define different approaches to forecastsDiscuss some strategies for managing technology

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Planning

Planning is the work done to predetermine a course of

action, in order to provide focus and direction for enhancing

the efficiency and effectiveness of the company.

Provides method for identifying objectives

Design sequence of programs and activities to achieve

objectives

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Planning

Planning is made necessary by rapid changeof (a) Technology ( web-based tools,broadband communications options, mobile

access), (b) Environment (globalization,competition, marketplace), and (c)Organization (mergers & acquisitions,networks, outsourcing and alliances)

Planning defines who, how, where, whenand using which resources to do the whatwork

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Planning

What must be done?

Who will do it?

How will it be done?

When must it be done?

How much will it cost?

What do we need to do it?

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Planning

What is the Problem/Purpose?

Establish Goal/Objectives

What Client Need Is Being

Satisfied by the Project?

Identify Success Criteria

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The Foundation for Planning

Mission

Purpose or Goal

Objectives

Strategies

All Customer Driven

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Planning

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Strategic Planning

Vision/Mission

Goals

Objectives

Strategies

SWOT Analysis Gap Analysis

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Strategic Planning

Mission

Goal 1 Goal 2 Goal 3

Objective 1 Objective 2

Strategy 1

Strategy 2

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Vision

A vision statement describes in graphicterms where the goal-setters want to

position themselves in the future.

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Vision Examples

Department of Polymer & Process Engineering:

To be the first choice of students desirousof undertaking

engineering education.

Eastman Chemical Company

To Be the World's Preferred Chemical Company

Microsoft (1980s)

A personal computer on every desk, and every computer

running Microsoft software."

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Mission Statement

Department of Polymer and Process Engineering

The mission of the Department of Polymer & Process Engineering is

to cultivate an environment through teaching, research, and service,that fosters the technical, critical thinking, and communication skillsnecessary for student and faculty to contribute to the engineering

profession and to the well-being of society.

Resembles a vision statement Has a more immediate business focus with a time

horizon

Examples

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Mission and Vision

Mission

Why do we exist?

Whom are weserving?

What do we do to

serve them?

Vision - CompanyAspiration

Market capital

Business standing

Ranking in

industrial sector

Market Share

Others.

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Our Values

Innovation Honesty

Quality

Social responsibility

Continuous improvement Stability

Collaboration

Accountability

Trust and openness

Quality of work Life

Empowerment

Initiative Diversity and equal

opportunity

Respects for others

Open communications

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Strategic Planning

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SWOT Analysis

Internal

Strengths

Weaknesses

External

Opportunities

Threats

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