Corporate Planning Basics
This is the process that compels a business to attempt to achieve its strategic objectives.
corporate planning
The way a business organizes itself, its values, attitudes, and beliefs of the people working in it.
Corporate culture
This is the most common reaction employees have when facing major organizational change.
resistance to change
The number of subordinates directly accountable to a manager.
Span of control
Planning for unexpected events / disasters that could seriously disrupt the business.
contingency planning
Two common main objectives included in a corporate plan.
growth + increased market share
This type of culture is team-oriented and is most associated with the concerns of task forces / project teams.
Task culture
This leadership style is needed to inspire employees to accept and support major change.
Transformational leadership
A tall hierarchy is likely to have this type of span of control.
narrow
One major benefit of contingency planning listed in the text.
reduces negative impact / maintains customer confidence / allows quick response
A typical corporate plan will include two main things, what are they?
Objectives and strategies
Power culture is most associated with the concerns of this central figure (give example of who in organization that might be)
entrepreneur / founder / senior manager / small group at the centre
What are the 8 stages of promoting change that a project champion might go through?
establish a sense of urgency
create an effective project team to lead the change
develop a vision and a strategy for change
communicate this change vision
empower people to take action
generate short-term gains from change that benefit as
many people as possible
consolidate these gains and produce even more change
build change into the culture of the organization so
that it becomes a natural process.
This passes instructions / authority down through the levels of the hierarchy.
chain of command
One important limitation of contingency planning.
costly, time consuming, may never be used
The main external influences on a corporate plan
This culture encourages innovation, risk-taking, and is often found in new / small businesses.
entrepreneur
The two main groups that can resist change (one internal, one external to the organization).
Employees and stakeholders
A structure with few levels of hierarchy and wide spans of control.
flat structure/flat hierarchy
The type of disaster specifically mentioned involving a factory fire or explosion.
fire/explosion contingency plan
The main internal influences on a corporate plan
Financial resources, operating capacity, managerial skills/exp., employee numbers/skills, and culture
The factor described as "a powerful force in any business" that you should refer to when trying to understand why people behave as they do.
Culture
What are the 9 stages of the change process that senior managers should follow?
. Where are we now and why is change necessary?
. New vision and objectives
ยท Ensure resources are in place to enable change to happen:
. Give maximum warning of the change:
. Involve employees in the plan for change and its
implementation:
. Communicate:
. Introduce initial changes that bring quick results:
. Focus on training:
. Sell the benefits:
The type of structure divided into departments such as finance, marketing, production, etc.
Functional structure
What is meant by continuity planning?
The plan to continue operations after a major disaster/crisis