Planning and Decision Making | Summary and Q&A

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May 17, 2020
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GreggU
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Planning and Decision Making

TL;DR

Planning and decision-making offer numerous benefits, including increased effort, persistence, direction, and task strategies. However, planning can impede change, create a false sense of certainty, and lead to detachment. Effective planning involves setting goals, developing commitment, creating action plans, tracking progress, and maintaining flexibility.

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Questions & Answers

Q: What are the benefits of planning?

Planning offers benefits such as increased effort, persistence, direction, and the development of task strategies. It encourages people to work hard and engage in behavior directly related to goal accomplishment.

Q: How does planning benefit companies and individuals?

Companies with plans have larger profits and grow faster than those without plans. Similarly, individual managers and employees perform better when given goals and strategies for achieving them.

Q: What are some pitfalls of planning?

Planning can impede change, prevent or slow needed adaptation, create a false sense of certainty, and result in detachment. It is important for planners to be familiar with the daily details of their business to produce effective plans.

Q: How can goal commitment be achieved?

Managers can promote goal commitment by setting participative goals, allowing employees to participate in goal setting, and making goals public. When employees are involved in the goal-setting process, they are more likely to be committed to achieving them.

Summary & Key Takeaways

  • Planning offers benefits such as intensified effort, persistence, direction, and the development of task strategies.

  • Companies and individuals with plans experience larger profits and faster growth compared to those without plans.

  • Planning can also have pitfalls, including impeding change, creating a false sense of certainty, and leading to detachment.

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