Principles of Information Systems (MindTap Course List)
Principles of Information Systems (MindTap Course List)
13th Edition
ISBN: 9781305971776
Author: Ralph Stair, George Reynolds
Publisher: Cengage Learning
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Chapter 11.1, Problem 2CTQ
Program Plan Intro

Strategic planning:

  • It denotes a process that helps managers identify desired outcomes as well as formulate plans to achieve objectives.
  • It uses the capabilities and resources that are available.
  • The changing nature of organization and surroundings should be considered.
  • It provides a framework and a direction that is clearly defined for guiding decision making at all levels.
  •  It ensures most effective usage by focusing resources based on priorities.
  • It enables organization to be proactive and take advantage of opportunities as well as trends.
  • It enables all units to work together towards common goal.
  • It provides measures to evaluate performances.
  • It improves communication among the organization.

Hypothetical objectives:

  • The hypothetical objectives specific to finance organization are shown below:
    • Attract, engage, develop and retain are the world’s best financial people.
    • Enhancing social welfare by interest of employees, government and trade union.

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