5 Planning and Goal Setting

A photo shows a person holding up a board with the words, Planning is a waste of time because no one can predict the future.

Andresr/Shutterstock

Learning Outcomes

  1. 5-1 Discuss the nature and purposes of planning.

  2. 5-2 Explain what managers do in the strategic management process.

  3. 5-3 Compare and contrast approaches to goal setting and planning.

  4. 5-4 Discuss contemporary issues in planning.

Management Myth

People say that the future is unpredictable. No matter how well you plan, there’s always the unexpected. For managers, it might be a sudden recession, a new and innovative product from a competitor, the loss of a key customer, the loss of a key employee, or the breakdown of a long-established business model. This logic has led many ...

Get Fundamentals of Management, 11/e now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.

Start your free trial