• Unit 7: Planning and Strategy Formulation

    Managers plan and coordinate the work of others so that an organization can achieve its goals. In their planning function, managers identify needed resources (e.g. people, finances, equipment, etc.) and organize them so that employees can accomplish activities and meet set objectives.

    In addition to setting company-wide strategy and long-term goals, managers also create interim, short-term goals as a means of focusing the activities of an organization and providing direction to employees.

    Completing this unit should take you approximately 5 hours.

    • 7.1: Planning and Strategy

        • 7.1.1: Case Study: Transforming the Textbook Industry

        • 7.1.2: Management Strategy Frameworks

        • 7.1.3: Intended and Realized Strategies of Managers

        • 7.1.4: Managers Have To Make Choices, Make Trade-Offs, and Have Discipline

      • 7.2: Setting and Achieving Goals and Objectives


          • 7.2.1: Case Study: Nucor Aligns Company Goals with Employee Goal

          • 7.2.2: How Should Managers Define Goals and Objectives?

          • 7.2.3: Managers Must Understand the Measurement of Goals and Objectives

          • 7.2.4: How To Identify Successful Goals and Objectives

          • 7.2.5: Managers Use Goals and Objectives for Employee Performance Evaluations

          • 7.2.6: Connecting Goals and Objectives with Corporate Social Responsibility

          • 7.2.7: Defining Your Own Goals and Objectives Makes You a Better Manager

          • 7.2.8: An Overview of Goal-Setting Strategies

        • 7.3: How Do Managers Develop Strategy?


            • 7.3.1: The Components of a Business Strategy

            • 7.3.2: Strategy Is Essential for Management Success

            • 7.3.3: Discussing the Five Competitive Forces of Strategy

          • Unit 7 Assessment