Explain the basic steps in the planning process
The steps in planning process involve the entire steps that the organization should underline to accomplish and achieve a certain objective. Strategic planning involves the accomplishment of a project through developing and implementing strategies in line with each step in the planning process (Zhang,2013).
Goals establishment; this is the first step in the strategic planning process. In every organization, there are goals to be achieved; these goals should have a road map that guides the implementation process. Establishing these goals is essential because it will give the direction to the company as well as the team responsible for implementing the strategies.
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Resource identification; resources are an important part of project accomplishment. These are categories of resources such as human labor, finance and time; these are the most important resources in any project. However other resources could involve the machinery, technology, transport, warehousing, and customers. Resource identification is the second step in the planning process. It enables the company to determine the available resources and plan on how to use them appropriately.
Establishing the tasks that are related to the goals of the company; a company will implement a project that leads to the achievement of certain goals. There are tasks that relate to the goal, and there are those that support the main project. Those tasks that are related to the goal are very important because it enables the planning process to emphasize on strengthening the forces related to the tasks. The third step is identifying these task-related goals.
Prioritizing the tasks and goals; this is the fourth step in the planning process. It involves the aspect of priority. It is important to note that each goal has a specific task that will result in achieving it, there are also those important goals to be achieved, for example; a profit making company will have the goals of profit maximization as the priority goal. Therefore the goals that are more important will be considered as well as assigning the tasks.
Creating the timeline; in every project, there should be a timeline that indicates the expected time of commencing and completing the project. The timeline is important because it will keep the implementing team on track and they will have to manage time as the resource.
Monitoring and evaluation methods; this is the final step in the planning process, it is important to monitor and evaluate any project so as to identify the challenges that could derail the implementing process. Monitoring and evaluation are also important because it will result in a quality project. Identifying the best method to monitor and evaluate the reject is important.
Steps in the decision-making process and the impact of managerial influence
Identifying the problem; it is important to identify the decision to be made, this is done by identifying the gaps that need to be addressed in the organization. A decision arises out of a problem, when there is a problem, it is an indication that some decision should be made to solve the problem. Therefore identifying the problem is the first and most important step in decision making.
Gathering data; identification of a problem is followed by gathering information that relates to the causes of the problem. It is important to understand that every problem has a cause, which needs to be identified through gathering data. This is the second step that requires researching and gathering information that will be used in making a decision.
Identification of alternative; during the process of identifying gathering information, alternatives could also be identified; this is where the solution to the problem could have other alternative methods. This is the third stage; it involves considering all the choices and identifying other alternatives that could contribute to the final decisions to be made. Identification of alternative involves listing all the desired outcomes from the gathered information and also outsourcing all the other alternatives.
Weighing among the alternatives; this is the fourth step whereby all the alternatives are weighed to determine the most appropriate choice that would solve the problem. When making a decision, it is important to analyze every choice so as to arrive at the best solution and hence make the appropriate decision. The weighing process involves equating the choice with the scenario and evaluating the worst case and the best case scenario in every choice. This will help the decision-making team to identify the most appropriate information to be used in making a decision.
Making the best choice among alternatives; after analyzing and weighing the alternatives, the fifth step will involve the process of choosing the best out of the alternatives. In this stage, the decision-making team will come up with the best choice of information to be used in making the final decision.
Implementation; this is the sixth stage; it involves putting the decision made into action. It is expected that the decision made is appropriate and hence it is taken into action. Also during this stage, a review on the decision made is important so as to evaluate the effectiveness of the decision.
Decision-making process is a complex task especially for the management; it requires experience and critical analysis of situations to arrive at the most appropriate decision. The personal attribute of a manager can influence decision-making process; this is because a manager is responsible for endorsing the final stage of decision. A manager who has a conflict of interest in a company will make a decision for his interest; this will impact on the implementation process of decision. Also, it is important to note that decision making is the result of problem identification. There are problems that are triggered by managers as a result of their level of incompetence, emotion and stress, intuition, and level of commitment. When this occurs, the manager will be blamed for the fault, and therefore this will impact on decision making. Managers can also participate in making the wrong choice due to lack of proper information gathering, a manager who is an autocrat will contribute to inappropriate decisions because the decision-making process is centralized (Bierman, Ferrell & Ferrell 2016).
Explain how the steps of the strategic planning process and the environmental factors that influence decision making impact the quality-productivity-profitability link
The strategic planning process involves making decisions on how to implement and achieve the goals. The decision-making process is, therefore, part of accomplishing the strategic plan. When it comes to decision making, there are internal and external factors that impact on the quality of decisions to be made. When the quality of decision made is poor, there will be an impact on the quality-productivity-profitability link. Several factors influence decision making; it is the role of the manager to ensure that these factors will have a positive impact on the outcome of that particular decision. It is important to note that decision making is aimed at maximizing the profits of the company; this is because the decisions made an impact on the company goals and the most important goal in any profit making company is to make more profits.
According to Leidner & Elam (1994), Ethics in business has impacted on the quality of decisions made; it has created an environment where all employees should be responsible for their actions. Ethical consideration has enabled businesses to thrive and become more productive. Employees are inclined to these ethics. Therefore the decision made should comply with the ethics, take for example a manager who is not ethically responsible; he or she will influence wrong choices which will impact on the productivity. Betty of WorldCom was under the pressure of his superiors to manipulate the financial reports so as to hide the company’s financial status. It was later discovered through an audit process that the financial numbers were manipulated and hence the quality of financial report was below standard. This was a wrong act by Betty; from this example, we can draw a conclusion on the impact of internal force towards decision making.
The strategic planning process is also impacted by the environment upon which the decision is made. It is important to note that the planning process involves making a decision in regards to implementing and accomplishing a project that will enable a company to reap more profits. Factors that influence decision-making process will, therefore, range from personal interests among managers, employees, and superiors, the experience of such a situation, the level of commitment, the culture of the company, the type of management in the company, individual difference in the company and the socio-economic status. The quality of decision made is highly influenced by the personal attributes such as honesty, responsibility, integrity, professionalism, and focus. Social responsibility is also part of the decision to be made by a company when the decisions made are below standards; it goes without saying that the social responsibility aspect of the company will be impacted. This will cause more damage to the perceived goals. Community, stakeholders, and customers depict more about the company. Where there is poor productivity, there are low profits and this result from factors that impact on the social responsibility aspect. Intuition, emotional stress, the level of commitment, framing, confidence, and risk taking are some of the factors that impact managerial decision making. These factors will impact on the future performance of the company if not fully addressed.
Reference
Bierman, L., Ferrell, O. C., & Ferrell, L. (2016). Management: Principles and applications, custom edition [Electronic version]. Solon, OH: Academic Media Solutions
Leidner, D. E., & Elam, J. J. (1994). Executive information systems: Their impact on executive decision making (Links to an external site.)Links to an external site. . Journal of Management Information Systems, 10 (3), 139-155. Retrieved from the EBSCOhost database.
Zhang, X. (2013). The evolution of management information systems: A literature review (Links to an external site.)Links to an external site. . Society for Design and Process Science, 17 (2), 59-88. Retrieved from ProQuest database.
