PowerPoint Presentation

ninth edition. STEPHEN P. ROBBINS. PowerPoint Presentation by Charlie Cook The University of West Alabama.

[Audio] We are discussing planning tools and techniques from Stephen P. Robbins' ninth edition textbook, PowerPoint presentation by Mary Coulter and Charlie Cook in hand. To better understand the material, let's review the Learning Outline. We will be assessing the environment, doing competitor intelligence legally and ethically, improving the effectiveness of forecasting, and the steps of the benchmarking process. We will also be looking into four techniques for allocating resources, types of budgets, and how Gantt charts and load charts can help businesses and operations. Let's begin..

[Audio] Mary Coulter and Charlie Cook provide a PowerPoint presentation in Stephen P. Robbins' textbook about planning tools and techniques. We will mainly concentrate on the techniques for allocating assets, such as PERT network analysis, the calculation of a breakeven point, and the utilization of linear programming. Additionally, we'll assess the advantages of modern planning techniques, such as project management and scenario planning. Lastly, we'll examine the significance of flexibility for contemporary planning techniques. Let's get going examining these tools and techniques..

[Audio] Two of the most important steps businesses should take in assessing the environment of their organization are environmental scanning and competitor intelligence. Environmental scanning involves screening large amounts of information to anticipate and interpret changes in the environment. Competing intelligence is the process of gathering information about competitors, including who they are, what they are doing, and how they are doing it. This is not spying, but simply paying careful attention to the readily accessible information from a variety of sources. Reverse engineering competitor products to discover technical innovations is also part of this process, as outlined in Stephen P. Robbins' ninth edition textbook..

[Audio] Environmental scanning is a process of gathering information about events, trends, and relationships within an organization's internal and external environments with the purpose of identifying and interpreting potential opportunities and threats. Global scanning, as an approach within environmental scanning, allows firms with global interests to assess the global environment through screening a wide range of information, thus helping them to acquire useful global views on world issues and opportunities..

[Audio] Forecasting plays a crucial role in corporate planning. It involves gathering data from external sources to make forecasts about potential results. These estimates can help in rational decision-making. Nevertheless, forecasting is more accurate in stable settings..

[Audio] Stephen P. Robbins' textbook provides an exploration into planning tools and techniques, including a detailed look into forecasting techniques such as quantitative forecasting – which uses a set of mathematical rules to extrapolate from a series of hard data – and qualitative forecasting – which relies on experts' judgments and opinions to make predictions. Furthermore, Robbins covers Collaborative Planning, Forecasting, and Replenishment (CPFR) software – which utilizes the Internet to allow organizations to share data in a standardized way..

[Audio] Forecasting techniques are used to anticipate future business trends and comprise of both quantitative and qualitative methods. Quantitative methods include time series analysis, regression models and econometric models, which involve analyzing economic indicators and substitution effects. Qualitative methods include jury of opinion, sales force composition and customer evaluation. All these techniques are covered in Exhibit 9-1 in Stephen P. Robbins' textbook..

[Audio] "In this chapter, Stephen P. Robbins' ninth edition textbook examines various planning tools and techniques. The PowerPoint presentation given by Mary Coulter and Charlie Cook discusses making forecasting more effective. They suggest that we use simple forecasting methods, compare each forecast to its corresponding “no change” forecast, not rely on a single forecasting method, not assume turning points in a trend can be accurately identified, shorten the time period covered by a forecast, and remember that forecasting is a developed managerial skill that supports decision making..

[Audio] Benchmarking is a planning tool and technique outlined in Stephen P. Robbins's ninth edition textbook. It involves assessing the best practices of competitors and non-competitors so as to enhance the performance of an organization's operations. By scrutinizing these best practices, companies can emulate and apply them to yield better quality outcomes..

[Audio] "Benchmarking is a useful tool for measuring performance goals. Step one involves identifying the process you want to compare. Next, you review the performance data of your competitors or similar organizations. Third, analyze the data and relate it to your own performance. Fourth, identify the best practices and decide which ones your organization should adopt. Fifth, test the best practices on a pilot scale and evaluate the results. Finally, recognize your employees who have contributed to the implementation of the benchmarking process." Benchmarking is a valuable tool to measure performance goals. To begin, identify the process you want to compare. Then look at performance data from your competitors or similar organizations. Once you have the data, analyze it in relation to your own performance. From there, identify the best practices and decide which ones to adopt. Then, test those practices on a pilot scale and evaluate the results. Finally, acknowledge and recognize employees for their contributions to the implementation of the benchmarking process..

[Audio] When it comes to resource allocation, recognition of the different types of resources is crucial. Financial resources may include debt, equity, and retained earnings. Physical resources include buildings, equipment, and raw materials. Human resources including experience, knowledge, and competencies, and intangible resources like patents, reputation, trademarks, copyrights, and databases should not be overlooked. Understanding how to correctly distribute these resources is an integral factor to successful business planning..

[Audio] Budgeting is a strategic planning tool that allows for the efficient and productive distribution of resources. It is utilized to plan for the future in terms of both time and space, as well as the utilization of materials. It is one of the most popularly practiced planning methods for organizations as it is proven to be both successful and versatile. In Stephen P. Robbins' ninth edition textbook, Mary Coulter and Charlie Cook have composed a PowerPoint presentation to outline this concept and emphasize the significance of budgeting. Let us review it..

[Audio] Budgeting is a crucial process to guarantee projects remain on course and resources are utilised efficiently. Robbins outlines four types of budgets used in distinct stages of a project. These four types are the planning budget, the control budget, the flexible budget and the responsibility budget. Planning budgets are employed to forecast how the project resources would be utilised, and control budgets are used to compare the actual results to the planned results. Flexible budgets vary in accordance to the outputs, and responsibility budgets offer an assessment of who is responsible for more extensive projects. This slide will concentrate on the four different types of budgets outlined by Robbins in the ninth edition of his textbook. The planning budget is intended to set assumptions for how the project resources will be utilised. The control budget is to evaluate the planned results to the actual results. The flexible budget adjusts depending on the output levels. Lastly, the responsibility budget helps give an appraisal of who is accountable for larger projects. Knowing these four types of budgets is essential for competent project planning..

[Audio] Exhibit 9-4 in Stephen P. Robbins' textbook provides some tips for budgeting effectively that should be taken into consideration. Goals should be the primary focus of the budget and should be used to guide budgeting decisions. It is essential to collaborate and communicate for successful budgeting. Additionally, coordinating the budgeting process across the organization is necessary to ensure that everyone involved is well informed and on the same page. Utilizing budgeting software can be beneficial for managing the process. Finally, remember that budgets are just tools and that successful profits come from savvy management decisions..

[Audio] We will examine two of the planning tools and techniques mentioned in Stephen P. Robbins' textbook, namely 'allocating resources' and 'scheduling'. We will investigate how these approaches can be employed for planning purposes. Scheduling plans can be used to organize activities, as they provide information on what needs to be accomplished, which tasks are assigned to each person, the order of completion, and the due date. We will discover the different methods of creating such plans and why it is essential to design effective ones..

[Audio] Mary Coulter and Charlie Cook's PowerPoint presentation outlines two key tools for planning and resource allocation, as discussed in the ninth edition of Stephen P. Robbins' textbook. The first is Gantt Chart, a bar graph with time on the horizontal axis and activities to be accomplished on the vertical axis, allowing us to track expected and actual progress of tasks. The second tool is Load Chart, a version of Gantt Chart that lists entire departments or specific resources on its vertical axis, enabling managers to effectively plan and control capacity utilization..

Exhibit 9–5. A Gantt Chart. © 2007 Prentice Hall, Inc. All rights reserved..

Exhibit 9–6. A Load Chart. © 2007 Prentice Hall, Inc. All rights reserved..

[Audio] This chapter will explore the planning tools and techniques from Stephen P. Robbins' ninth edition textbook. Mary Coulter and Charlie Cook have created a PowerPoint presentation to explain the concept of resource allocation. We will go over the Program Evaluation and Review Technique (PERT), which is a flow chart diagram illustrating the sequence of activities needed to finish a project, including the time or cost for every step. This diagram showcases the endpoints of events and tracks how much time each activity needs. Furthermore, it provides insight into slack time (time required waiting for one activity to end before the next can start). Lastly, this system allows us to identify the critical path of activities, ensuring all tasks can be completed with minimal waiting time..

[Audio] A variety of planning tools and techniques are presented in the ninth edition of Stephen P. Robbins' textbook. In this chapter, Mary Coulter and Charlie Cook discuss how to develop a PERT network. This includes identifying key activities that must be achieved, determining the order in which they need to be completed, diagraming the flow of activities from start to finish, estimating the time needed for each activity, and ultimately determining a timescale for the entire project. This is a detailed and intensive process that is essential for the success of any project..

[Audio] Going over the events and activities involved in constructing an office building, shown in Exhibit 9–8, comprises all steps of the construction process, from the initial meeting to the final inspection and submission of documents. Taking a closer look at each of these steps, a deeper understanding of how they fit together and form the larger construction project can be acquired. Utilizing various planning tools and techniques can support completing the project in a timely manner and achieving the desired outcome..

[Audio] Exhibit 9-9 presents a visual PERT network for constructing an office building. Activities are represented by arrows and nodes are used to show progress. The critical path, which is also the path with the most activities, consists of activities A to B, C to D, G to H, and J to K. To ensure the success of the project, completion of all activities on the critical path needs to be ensured on time..

[Audio] Breakeven Analysis is a useful tool for pinpointing the point at which all fixed costs have been recovered and profitability begins. The Breakeven Formula involves calculating the Total Fixed Costs and Total Revenues in order to reach the break-even point. Mary Coulter and Charlie Cook will be demonstrating the use of the Formula, as well as explaining how it can be graphically presented in order to aid understanding. Everyone is encouraged to join in and learn more about Breakeven Analysis..

[Audio] Breakeven Analysis is a useful tool for cost-volume-profit (CVP) analysis, whose main purpose is to identify the point at which total costs equal total revenues. It is used to calculate the minimum production and sales levels needed to make a profit, with the break-even point being where total revenue equals total cost. With Breakeven Analysis, the company can gain insight into what production and sales levels it needs to achieve in order to become profitable, as well as identify and fix potential problems within the organization..

[Audio] Linear programming is a powerful tool that helps to solve resource allocation problems. It offers insight into how best to allocate resources by analyzing the proportional relationships between two variables. This technique considers the resources available and estimates the consequences of the different solutions. It can help to optimize the use of resources and obtain the most efficient use of them..

[Audio] This slide shows the production data for the list of cinnamon-scented products. As you can see, the products have been split into categories, each with its own production plan. For example, cinnamon oil is in its own category, with a forecasted production of 4500 units. The production data is updated regularly and is tracked as a whole to ensure that the production plan is effective and efficient. As you can see, with the help of this production data, a lot of time and effort has been put into the production planning process for these products. Thank you." Production planning is an essential part of any business operation. It allows us to ensure that our process runs smoothly and efficiently while giving us the flexibility to respond to changing market conditions and customer needs. Exhibit 9-11 shows the production data for a list of cinnamon-scented products. As you can see, the products have been split into categories, each with their own production plan. Cinnamon oil, for example, has a forecast production of 4500 units. This production data is updated regularly so we can effectively manage production and plan for the future. With this data, it's clear that a lot of thought and effort has gone into the production planning process..

[Audio] Exhibit 9-12 is a graphical representation of a linear programming problem, aiming to maximize manufacturing, assembly, and profits. The analysis shows how any changes in the parameters will affect the other components. It is beneficial for businesses and managers to utilize this analysis in order to optimize their operations..

[Audio] This chapter will explore the contemporary planning techniques highlighted in the ninth edition of Stephen P. Robbins' textbook. Mary Coulter and Charlie Cook have produced a PowerPoint presentation that explains a project as a one-time set of activities with a definite start and end point. The discussion will also cover project management, which is the process of getting a project's activities done on time, within budget, and according to given requirements. Additionally, we will look at how to define project goals, identify all required activities, materials, and labor, and decide the order of completion..

[Audio] Objectives need to be set before any project planning process begins. These objectives must be measurable and aligned with the goals of the organization. Afterwards, goals and strategies need to be established with input from stakeholders, including upper management, to get the project plan approved and supported. An action plan is then developed to address all the tasks involved in the project and the timeline by which they must be completed. The last step of the project planning process is implementation, where the project is actually executed and progress is monitored..

[Audio] This chapter examines the planning tools and techniques identified in Robbins' 9th edition textbook, with a focus on scenarios, scenario planning and contingency planning. Scenarios offer an organized view of potential future events and are frequently used to minimize uncertainty. Scenario planning looks at distinct stipulated conditions and helps executives devise tactics. Moreover, contingency planning is explored as it enables directors to decide how to react if the foreseen event takes place..

[Audio] Identifying potential unexpected events, determining early indicators, and having proper responses and plans in place are key steps for preparing for unplanned occurrences. According to Stephen P. Robbins' ninth edition, these tools and techniques are essential for individuals, teams, and organizations to be better equipped if the unexpected takes place..

[Audio] At the end of this chapter, we have reviewed some of the key concepts we discussed. These include environmental scanning and competitor intelligence, along with the distinctions between quantitative and qualitative forecasting. We also looked at benchmarking, budgeting, and scheduling with Gantt and load charts, in addition to PERT networks, events and activities, slack time, the critical path, and breakeven analysis. Furthermore, we explored linear programming, project management, and scenario-building. To conclude this PowerPoint presentation, I would like to thank Mary Coulter and Charlie Cook for their hard work in researching and constructing the presentation. I hope everyone has gained a better knowledge of the planning tools and techniques discussed in Stephen P. Robbins' ninth edition of his textbook..