AllBestEssays.com - All Best Essays, Term Papers and Book Report
Search

Management Planning Paper

Essay by   •  June 20, 2011  •  Essay  •  1,358 Words (6 Pages)  •  1,561 Views

Essay Preview: Management Planning Paper

Report this essay
Page 1 of 6

Management Planning

The first action of management is planning, this step is vital to every company because it where the goals are set. Planning is the first function of management, it provides the foundation for management to start moving toward the company's goals. Mission statements present to everyone what management has planned for the company. Tyco mission statement is "To be our customers' first choice in every market we serve by exceeding commitments, providing new technology solutions, leveraging our diverse brands, driving operational excellence, and committing to the highest standards of business practices - all of which will drive Tyco's long-term growth, value and success" (Tyco, 2011). Management needs to think about strategic, tactical, and contingency plans while making long and short term goals for the company; while thinking about what effect legal, ethics, and social responsibility the plan will have on the company.

Generally handled by the upper management is strategic planning, at this level the guidelines are set on what goals are to be in place and how each should be observed. The items that are reviewed are profit margins, market shares, productivity, customer satisfaction, and overall company growth. Depending on the goals that are specified it can take anywhere from a few months to three years to meet the final objective of the goal. Tyco in 2002 had many challenges because of the scandal that former Chief Executive Officer (CEO) Dennis Kozlowski and the Chief Financial Officer (CFO) Mark Swartz, for hidden accounting practices (Breen, 2004). Breen explained that major changes had to be made to the company strategy, he believed that Tyco had to increase market share, business volume, and improving overall operating efficiency by growing organically (Breen, 2004). In 2004 Tyco had a great year even though the scandals of the past Breen said that the people to thanks for the high return was a strong customer base and the dedication of the employees at Tyco (Breen, 2004).

Upper management uses tactical planning, it is designed to interpret the goals of the strategic plan. The tactical plan is established for the upper to mid range managers to handle in their departments and these plans can last from a couple months to two years. This presents objectives for each department to meet or exceed goals handed down from upper management. Anne Lauvergeon, President of AREVA, presented Tyco Valves and Control Division top supplier award. Patrick Decker, President of Tyco Valve Controls explains that by working with companies like AREVA helps Tyco move and stay in the world market. Meeting the needs of customers and producing quality products will keep present customers and could open new valve designs for future use in nuclear facilities all over the world (Tyco, 2009).

An operational plan give specific direction on how the front line managers and employees are to meet goal handed down from upper management. This plan explains the guidelines in which production, quality assurance testing, and what information is needed to report back to management for the progress reports. Many companies use this plan as a organizational procedure where all three of these departments work together to make quality parts to meet customer and client orders. West Liberty Foods has a reporting process that covers how each process is handled. Having each department working close together is one of many ways to control of any contamination or cross-contamination of meat products produced by production lines within the plant.

Contingency planning or basically thought of as backup plan is used in case the plan that was used is not working according to the guidelines that management had put in place. Many companies use a backup plan when the plan that is already in effect is not working. An example is tornado warnings have been present many times over the last ten years at the Mount Pleasant WLF facility. Employees have designated areas to move to in weather warning issues arise. There are secondary areas to move to in cases company's employees can not make the primary area specified. Contingency plans are just as important as tactical and strategic plans because not all things will work as planned. No one wants a plan

...

...

Download as:   txt (8.3 Kb)   pdf (110.1 Kb)   docx (11.9 Kb)  
Continue for 5 more pages »
Only available on AllBestEssays.com
Citation Generator

(2011, 06). Management Planning Paper. AllBestEssays.com. Retrieved 06, 2011, from https://www.allbestessays.com/essay/Management-Planning-Paper/4214.html

"Management Planning Paper" AllBestEssays.com. 06 2011. 2011. 06 2011 <https://www.allbestessays.com/essay/Management-Planning-Paper/4214.html>.

"Management Planning Paper." AllBestEssays.com. AllBestEssays.com, 06 2011. Web. 06 2011. <https://www.allbestessays.com/essay/Management-Planning-Paper/4214.html>.

"Management Planning Paper." AllBestEssays.com. 06, 2011. Accessed 06, 2011. https://www.allbestessays.com/essay/Management-Planning-Paper/4214.html.