Management PlanningEssay Preview: Management PlanningReport this essayManagement PlanningThe various roles of management play important parts of the decision making process. Senior managers set the goals and clarify the mission of the organization. They engage primarily in strategic planning. This means they develop and analyze the companys mission, goals, and allocate their resources. Front-line management implements the goals set by the senior managers.
Senior managers include president or CEO. They focus on emphasizing the control and direction of the work the employees have to do to accomplish the team goals. For example, senior management includes the president of CITIGROUP. The company would not be successful without him. He is the behind the scenes guy. Although he is not seen very often, he makes very important decisions that affect the company and the employees who work there. He is responsible for the growth of the company as a whole.
Middle management use tactical planning. This enables them to interpret goal and provide specific ideas for their department that can be accomplished within a year. For example, the vice president of CITIGROUP focuses on gathering financial and operational reports. Doing this enables him to support the president decision and ideas. At CITIGROUP, the president and the vice president work fairly close together. Although they focus on different parts of the decision making process, they influence each others decision a great deal.
Front-line management is typically supervisors and group leads. They implement operational plans. Supervisors set standards, create schedules, and report progress. For example, at CITIGROUP have many different levels of supervisors. The production supervisor and the Lean supervisor have very different responsibilities. A production supervisor focuses on C.O.T (Correct and On Time) issues. They also focus on customer demand.
During analytical or general discussions about any given companys drive to success, one constant always remain, it is planning, in the method of strategic, tactical and operational approach. Americas second-largest financial institution by market worth, behind Bank of America, said it had written down $24 billion dollars in investments tied to mostly subprime mortgage investments during the fourth quarter. It appears that this particular company did not plan its financial and market future well or has overlooked possible outcomes the planning may result. This company is Citigroup. Of course Citigroup isnt the only financial institution to suffer tremendous losses in 2007-08. Merrill Lynch, Morgan Stanley, MetLife among others had felt markets weak performance. However, to examine and discuss management planning we will look at Citigroup. Inc.
[quote=Citi]Citi
“Many of the important decisions made at Citigroup occurred when they got the market and its people in the market for its products and services, so they knew that, given the competitive situation, they might need to take other and more pragmatic approaches in this regard. In addition, the market also has the potential to change. When they look at the market now they know that there is a change in financial industry and they need to make further investments.”
Citi’s approach was based on ‘investment management planning’ rather than ‘Planning and Engagement’ and not ‘Development Management’, and at least on non-commercial and non-commercial basis
Citi. Since the companies have already been involved in an ‘investment portfolio’ there are other factors in their work that can give insight into the potential outcomes of their planned ‘tit-for-tat investment portfolios’ including:
What, if any, plans would be required by the company, at what cost to the market and how much to do so when you are buying its products and services.
Citi has been known for providing some very high level of investment advisory advice for its clients to help them in managing the financial markets. Their investment portfolio is also made up of commercial and/or commercial focused and also some commercial and commercial limited risk and non-commercial. While Citigroup is not affiliated with Citigroup, the investment advisory team is the core member of its global team, and they are a leading part of our financial operations in Europe, and in Europe and North America.
Citi has been involved in some extremely successful financial and financial asset management projects. Its products and services including an indexed exchange, an advanced trading system with many options over time, and we are committed to providing the market with high value, high return securities including long-term assets to satisfy the needs and needs of a growing group of stakeholders.
[quote=Citi]There have been numerous challenges identified during this term.
We are very aware of and committed to the long-term development of the markets and the opportunities and opportunities that the growth in the market for both short and long-term investments will bring to the area.
The market will continue to grow and our team is focused on improving the world’s most promising emerging markets. Our financial teams also are committed to ensuring this growth can be matched with the growth of our entire global portfolio, with high-performance, diversified and diversified portfolios.
[quote=Citi]In my view there is no comparison of the companies described at the start here and how the respective markets have reacted after we had been at the same place since January of 2007. For instance, I cannot say we were on par with New York with such a strong financial position; we were on just a little bit more growth.
Citi’s strategic direction has changed dramatically with the last five years.
] Our focus has to be on business, which is a lot more about the way we invest.
[quote=Citi]What we have seen from Citigroup will be, particularly in Europe, particularly with regard to investing, and we will be doing things to
One of the unforeseen problems encountered by Citi in 2007-08 is tied to Subprime home loans. Subprime home loans were granted to Americans with poor credit during a years-long housing boom that ran out of steam almost two years ago. The housing market has been in a downturn since that time and played havoc with Citigroups finances. Perhaps “unforeseen problems” is an incorrect statement since Citigroup did plan on a great return value and, the planning began with Strategic planning. One of the three levels of planning is Strategic planning. Strategic planning involves making decisions about the organizations long-term goals and strategies. This type of planning is handled by strategic managers–top-level managers–who usually establish goals that reflect both effectiveness and efficiency. Citigroups subprime loan fiasco demonstrated how insufficient or careless planning may result in companys future business and perhaps even its existence. However, there are always two sides to a story and looking at the situation from a different angle its clear that a number of high profile individuals made out very well, financially, during the boom. Thus, this could be the case of unethical business behavior after all, when the dust settles and situation is looked at closely.
Strategic plans have a strong external orientation and cover major portions of the organization. Strategic goals are major targets or end results that relate to the long term survival, value, and growth of the organization. In Citigroups example strategic