Compare and contrast action planning with Management by Objectives.
Management by Objectives (MBO) is a systematic planning of the things that need to be executed and implemented with the most effective action with the aim of achieving the goals of the organization. If the procedures are understood and there is proper implementation with the active leadership of managers, MBO can be effective in any size of organization. It is an effective strategic planning and execution system. It is also a team-oriented and a process-oriented planning system. In MBO, the goals are clearly defined, relatively few and long-term while objectives are numerous and short-term.
Action planning includes deciding who does what, when it is going to be done, and how it will be done with the main purpose of achieving the strategic goals of the ...
The solution compares and contrasts action planning with Management by Objectives (MBO) and it also explains how MBO can help improve the implementation of strategy. References are included.
Using all documents attached an action plan needs to be developed
Action Plan has 4 Elements
• Identification of specific actions to be undertaken in the next year or less.
• Establishment of a clear time frame for the completion of each action.
• Creation of accountability by identifying who is responsible for each action.
• Determination of one or more specific, immediate objectives that the action should achieve.
Based on the elements answer the following:
1. Specific steps you will need to take in the next year to achieve your 5-year objectives. Analyzes the steps and associated time frame needed to achieve long-term objectives.
2. A time frame for completing each action.
3. The scorecard you will use to measure the success of each action. Develops a scorecard to measure the success of steps needed to achieve long-term objectives.
4. The functional tactics you will use to achieve your short-term objectives. Analyzes functional tactics used to achieve short-term objectives.
5. The resources (financial, human, and other) you will use to complete each action.
6. An analysis of the monetary ramifications of each action.
7. A plan for monitoring the progress of the action plan.
8. A plan for handling obstacles or roadblocks.
9. An explanation of how your overall strategic plan reflects your mission statement.