Mgt 330 Week 3

1132 Words5 Pages
Week 3 Individual Assignment Management Planning Paper Jariya Leming Management: Theory, Practice And Application October 18, 2011 Stacy Medvetz Tyco International Ltd: Management Planning The future can be considered as a great unknown with many variables. For a better chance of success it is wise to move forward with a plan. For many organizations this means having a strategic management plan. Strategic planning is the process of putting together steps that will determine the direction of an organization over the course of a few years. The steps of this plan outlines how the organization hopes on getting to their destination. There is no one or right way to carrying out this process. Strategic management planning is achieved through conducting strategic analysis and then setting strategic direction. The final step is action planning which is the action of laying out how the strategic goals will be accomplished (McNamara, 2011). Tyco International Ltd. is a diverse global manufacturing company based out of Switzerland, with the organization’s United Sates headquarters located in Princeton, New Jersey. This organization is made up of three major business components: Security Solutions, Fire Protection, and Flow Control. According to Hoopes (2011), " Tyco International's management planning affects every aspect of the business from employees to community. Management planning includes identifying what goals the company wants to accomplish. Legal issues and ethics also effect management. Many influences, external as well as internal, also affect the way Tyco does business. Applying Tyco's strategic, tactical, operational and contingency plans will help manage these outside and inside influences without disrupting the ongoing success of the business.” Tyco applies the four functions of management: planning. Organizing, leading, and controlling to their

More about Mgt 330 Week 3

Open Document