Text 9. Setting Objectives and Planning

Planning is the function of management that involves setting objectives and determining a course of action for achieving these objectives. In the new business environment of rapid changes, heightened risk and uncertainty, developing effective strategies is critical. They prepare executives to face the strategic uncertainties ahead and serve as the focal point for creative thinking about a company's vision and direction.

Many companies get little value from their annual strategic-planning process however. To meet the new challenges, this process should be redesigned to support real-time strategy making. Strategic planning takes place at the highest levels; other managers are involved with operational planning. The first step in operational planning is defining objectives - the result expected by the end of the budget (or other designated) cycle. Operations generate today's value, while ventures create tomorrow's opportunities. The primary difference between operations planning and venture planning is uncertainty.  There are four keys to good venture planning: 1.Focus on one venture at a time in one business area at a time. 2. Discover the opportunity first, and then evaluate how to exploit it. 3. Develop three cases good, bad & likely for each scenario of a venture concept. 4. Identify what type of venture you want.  Each type has an entirely different model, implementation and end result.  Each demands a different entrepreneurial approach.

The major outcome of strategic road-mapping and strategic planning, after gathering all necessary information, is the setting of goals for the organization based on its vision and mission statement. A goal is a long-range aim for a specific period. It must be specific and realistic. Long-range goals set through strategic planning are translated into activities that will ensure reaching the goal through operational planning.

A goal is an end that the organization strives to attain. However, the supervisor cannot "do" a goal. Supervisors break down processes, analyze them, set objectives and then drive hard to achieve them. Doing the same thing and expecting different results doesn't work. The supervisor must write an objective for what he or she is trying to accomplish. Thus, an objective is the object or aim of an action. It implies an explicit direction for the action to take and a specific quality of work to be accomplished within a given period of time. Objectives reflect the desired outcomes for individuals, groups and organizations. They provide direction for decision-making and a criterion against which outcomes are measured. Thus, objectives are the foundation of planning.

An objective is a specific step, a milestone, which enables you to accomplish a goal. Setting objectives involves a continuous process of research and decision-making. Knowledge of yourself and your unit is a vital starting point in setting objectives. The objectives must be: be focused on a result, not an activity; be consistent; be specific; be measurable; be related to time; be attainable. They are expected to be SMART: Specific, Measurable, Attainable, Rewarding and Timed.

Setting right objectives is critical for effective performance management. Such objectives as higher profits, shareholder value, customer satisfaction may be admirable, but they don't tell managers what to do. They fail to specify priorities and focus. Such objectives don't map the journey ahead - the discovery of better value and solutions for the customer.

Exercise 66. Answer the questions.

1. What does planning involve? 2. At what level does strategic planning take place? 3. What is operational planning? 4. What does the success of venture planning depend on? 5. What is a goal? 6. What is the role of a supervisor in the goal-setting process? 7. What does an objective differ from a goal?

Exercise 67. Give Ukrainian equivalents:

business environment, heightened risk, strategic uncertainties, focal point, annual strategic planning process, venture planning, at a time, operations planning, long-range aim, explicit direction, research process, performance management, to specify priorities, to map the journey.

Exercise 68. Find English equivalents:

майбутні обставини, підприємницький підхід, встановлювати цілі, збирати інформацію, перелік цілей та цінностей компанії, керівники, стратегічна гра в реальному масштабі часу, використовувати, очікувати результат, класифікувати процеси, бажаний результат.

Exercise 69. Find in the text past participles in the function of right or left attribute. Make up sentences with them.

Exercise 70. Learn the following definitions.

Strategic planning	involves long-term frame (3 years and more) analyzing competitive opportunities and threats, strengths and weaknesses of the organization, and then determining how to position the organization to compete effectively in their environment.
Tactical planning	is intermediate-range planning (from 1 to 3 years) designed to develop relatively concrete and specific means to implement the strategic plan.
Operational planning	is a short-range planning (from 1 week to 1 year) that generally assumes the existence of objectives and specifies ways to achieve them. It is designed to develop specific action steps that support the strategic and tactical plans.
Mission statement	tells what the company is now. It concentrates on the present and defines the customer and the critical processes, informs of the desired level of performance.
Vision statement	outlines what the company wants to be. It concentrates on the future and is a source of inspiration, provides clear decision-making criteria.

Exercise 71. Translate into English.

1. Планування пов’язане з майбутнім впливом сьогоденних рішень. 2. Місія стосується масштабу бізнесу і того, що відрізняє компанію від подібних компаній. 3. Стратегії є результатом стратегічного планування. 4. Менеджери компанії залучаються до процесу встановлення цілей і визначення курсу дій для досягнення цих цілей. 5. Планування може бути довгостроковим, середньостроковим та короткостроковим. 6. Перш ніж прийняти рішення, менеджерам необхідно зібрати інформацію. 7. Планування може бути поділеним на дві категорії залежно від шкали часу та цілі планування. 8. Стратегічне планування є процесом визначення місії компанії, визначення загальних цілей організації та розміщення ресурсів для досягнення цілей. 9. Оперативне планування полягає у контролі менеджерами середньої ланки та контролерами щоденної роботи відділів. 10. Для того, щоб досягти довгострокових цілей, необхідно повідомити концепцію компанії підлеглим.

Exercise 75. Learn the following words and word combinations.

inner	- внутрішній
deficiency	- відсутність, нестача
to apply	- застосовувати
complex	- складний
truism	- відома істина
labor manager	- управляючий трудовими ресурсами
perception	- сприйняття, розуміння
employer	- наймач, роботодавець
employee	- працівник
reward	- винагорода, премія, компенсація
to stem	- походити
expectation	- очікування, сподівання
presumption	- припущення, ймовірність
self-motivation	- самомотивація
accomplishment	- виконання
craftsmanship	- майстерність, вміння
self-confidence	- впевненість, самовпевненість

Exercise 76. Read, translate and give the gist of the text.

Text 11. Motivation

Selection, training, evaluation and discipline cannot guarantee a high level of employee performance. Motivation, the inner force that directs employee behavior, also plays an important role. Highly motivated people perform better than unmotivated people. Motivation covers up ability and skill deficiencies in employees. Such truisms about motivation leave employers wanting to be surrounded by highly motivated people but unequipped to motivate their employees. Employers and supervisors want easily applied motivation models but such models are unavailable.

Motivation probably tops the list of complex activities with which labor managers deal. Their intuition suggests an easy answer, "I want everyone around here to be motivated." They often blame employees for their lack of motivation and performance problems. Employees on the other hand often blame any performance problems they may have on external factors - their supervisors, equipment, training, co-workers, weather, unrealistic demands made on them, pressures at home, lack of recognition, etc. Despite the conflicting perceptions held by employers and employees, employers must deal with employee motivation.

Three ways of looking at motivation are: needs, rewards and effort. The needs approach stems from the notion that peoples' unsatisfied needs drive their behavior. Figure out a person's needs, satisfy the needs and the person will be motivated. For example, a person with a high need to satisfy goals is motivated by production targets. The rewards approach is based on the expectation that rewarded behavior is repeated. Giving a person a bonus for excellent performance during a difficult harvest period encourages the person to make a special effort during the next difficult harvest. The effort approach to motivation is based on the expectation that effort brings the worker what he or she wants. The thought that working hard leads to advancement and new career opportunities is consistent with the effort approach. The effort approach includes a presumption that the employer is fair, i.e., effort is recognized and rewarded. Managers cannot reduce motivation to a simple choice of one of these approaches. Each of the three approaches contributes to an understanding of motivation and how motivation varies person to person and over time.

The most effective motivation for employees comes from within each employee, i.e., self-motivation. Possible indicators of self-motivation include: past accomplishments in school, sports, organizations and work; stated career goals and other kinds of goals; expertise in one or more areas that shows evidence of craftsmanship, pride in knowledge and abilities, and self-confidence; an evident desire to continue to learn; and a general enthusiasm for life.

Exercise 77. Answer the questions on text.

1. What activities usually guarantee a high level of employee performance? 2. What is covered up by motivation? 3. What does a labour manager often blame employees for? 4. What external factors cause any performance problems? 5. From what points of view can motivation be considered? 6. What does the needs approach stem from? 7. What is the reward approach based on? 8. What approach is based on the effort? 9. What are possible indicators of self-motivation?

Exercise 78. Give Ukrainian equivalents:

employee performance, applied motivation models, complex activities, unrealistic demand, to drive the behavior, rewarded behavior, harvest period, past accomplishments.

Exercise 79. Find English equivalents:

внутрішня сила, мотивовані люди, зовнішні фактори, колега, брак визнання, суперечне сприйняття, незадоволені потреби, виробничі завдання, кар’єрні можливості.

Exercise 80. Find all possible pairs of synonymic and antonymic words from the list given below:

employee, feature, subordinate, technique, motivate, characteristic, supervisor, be consulted, produce, supervision, supervise, productivity, participate, productive, motivation, worker, element, method, be involved.

Exercise 81. Find and analyse all –ing forms in the text.

Exercise 82. Translate into English using: to motivate, motivating, motivation, product, to produce, production, productive.

1. Працівники мотивуються багатьма чинниками. 2. Один зі способів - проконсультувати їх щодо розробки нового продукту. Інший спосіб – залучити їх до процесу виробництва. 3. Якщо працівник виробляє більше, він отримає підвищення зарплатні. 4. Розвиток технологій є одним зі шляхів зробити працівників більш продуктивними. Іншим шляхом може бути створення виробничих команд. 5. Речі, які мотивують людей в одній культурі, можуть відрізнятися від мотивуючих факторів в іншій культурі. 6. Дослідники мотивації констатують, що існують внутрішні та зовнішні мотивуючі фактори.

Exercise 83. Learn the following words and word combinations.

establish	- встановлювати
subdivide	- розподіляти(ся)
subsequent	- наступний
tenure	- строк перебування на посаді
presumed	- допустимий
adjudicating	- відмова (від посади)
endow	- забезпечувати
emerge	- з’являтися
coincide	- співпадати
follower	- послідовник, прибічник
outcome	- результат, наслідок
mold	- формувати
commitment	- зацікавлення
enhancement	- покращення, збільшення
cohesion	- єдність
excel	- відрізнятися, перевищувати
derive	- походити
peer	- такий самий, рівня
inner	- внутрішній
array	- сукупність
reward	- винагорода

Exercise 84. Read, translate and give the gist of the text.