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Mastercard Company

Essay by   •  February 1, 2012  •  Research Paper  •  1,924 Words (8 Pages)  •  1,307 Views

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Planning is defining an organization's goals, establishing an overall strategy for achieving those goals, and developing plans to coordinate work activities. Planning in organizations and public policy is both the organizational process of creating and maintaining a plan. It's concerned with both end (what) and means (how)

When we use the term planning, we mean formal planning. In formal planning, specific goals covering a specific time period are defined. These goals are written and shared with organization members to reduce ambiguity and create a common understanding about what needs to be done. Finally, specific plans are developed for achieving these goals.

MasterCard company become a public company/corporate, therefore, MasterCard company have a goals that the start of a new way of operations for company's employees around the world. Since Master Card company want to do that, so company executive wanted to ensure every employees understanding what change meant and how master card would be difference after the initial public offering (IPO). Also they have to make learning event to train their employees and create seminars to show what the learning event and training program gave to the employees and made a specific goals to achieve.

In order to achieve the company's goals, MasterCard company requires some detailed planning like: Company Human Resource (HR) specialist and local manager face to face to training their employees.

 Types of Goals and the goals of the case:

There are three goals that included (1) financial goals, (2) strategic goals and (3) real goals to show MasterCard would be difference after IPO to achieve on their training program.

Case Study3

MasterCard company in order to ensure every employees know/understanding the business strategy and how would be difference after the (IPO), company have some specific goals for the training program, Financial goals: Are related to the expected internal financial performance of the organization, so the first one company titled "How We Make Money, was to focus on MasterCard's financial model and how fit into the industry. The second one, Strategic goals: Are related to other areas of an organization (e.g. competitors), company called "Universe of Opportunity" would describe the company's competitive landscape and industry challenges. And the last one, Real goal: What actually goes on in the organization, and the company says that, every employee understand the business strategy.

 Types of plans and plans applied to this case:

The most familiar ways to describe organizational plans are in terms of breadth (strategic plans versus operational plans), time frame (short-term plans versus long-term plans), specificity (directional plans versus specific plans) and frequency of use (single-use plan versus standing plans). These types of plans aren't independent. That is, strategic plans are usually long-term, directional, and single use. The operational plans are usually short-term, specific, and standing. Manager should do the plan because there are four reasons. First, planning provides direction to managers and non-managerial staff. When employees know what their organization or work unit is trying to accomplish and what they must contribute in order to reach goals. They can cooperate with each other and coordinate their activities.

Secondly, planning reduces uncertainty. Managers can look ahead, consider the impact of change and develop appropriate responses. Next, planning minimizes waste and redundancy. When work activities are coordinated around plans, inefficiencies become apparent and can be corrected or eliminated. Finally, planning sets the standards for controlling. They can see whether the plans have been carried out and the goals met.

Case Study4

In this case, (1) strategic plans, (2) operational plans, (3) short-term plans, (4) directional plans and (5) standing plans would be apply for the event.

(1) Strategic plans are plans that cover extended period of time. This applies to an entire organization and establishes the organization's overall goals. This can seek to position the organization in terms of its environment. MasterCard indicated the start of a new way of doing things for the company's 4600 employees around the world. The company administrator wanted to ensure that every employee understood what such a change meant and how MasterCard would be different after the initial public offering (IPO). They hope that the general public also knows this message through the employee and company's achievement.

(2) Operational plans are plans that cover short time period. This specifies the details of how the overall goals are to be achieved. The company planned to have 4.5 hours seminars conducted in 110 workshops in 36 cities. In order to successful, they conducted a training program which anchored by three 'learning maps' or topics. It included "Universe of Opportunity", "How We Make Money" and "New Climate, New Culture, New Company". This is regard as the evidence. The training program can help the company achieve the goals.

(3) Short-term plans are plans with time frames on one year or less. The company planned to have 4.5 hours seminars over a three-week time frame. This short-term plans can help the company reach its goals effectively.

(4) Directional plans are flexible plans that set out general guidelines, provide focus, and yet allow discretion in implementation. When risk or uncertainty is high, managers must be flexible in order to respond to sudden changes. The training program only set three "learning maps" as the general direction. It doesn't have a series of interrelated steps or course of action. Managers may have the chance to solve the problem.

Case Study5

(5) Standing

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