. Flashcards
Concerned with defining goals for future organizational performance and deciding on the tasks and resource use needed to attain them.
Planning
Describes what he company wants to achieve and where it wants to go in the future.
Vision Statement
Describes the company reason for its existence, it answers the question why the company exists.
Mission Statement
The specific accomplishments or action plans that are you usually attained after a long period
goals
refers to an action plans that involve shorter periods and more measurable outputs
objectives
these are usually broad plants based on the companies mission vision and values and adjust the company as a whole
the owner decides
a process in which an organization’s leader defines their vision for the future and identify the organizations goal or objective
strategic plans
these plans translates broader plans into functional goals for each areas or department
it includes budget resources and goals with specific deadlines
tactical plans
it involves specific events such as marketing campaign campus recruitment and others
also involves the formulation of ongoing plants that defines specific operation objectives
operational plans
it is usually conceptualized by the chief executive officer and other members of the top management
corporate strategy
the two strategy in top level management
corporate and general business strategy
concerned with building competitive advantage for a single business unit of a diversified company
general business strategy
the one responsible for crafting a functional strategy is usually the manager in charge of the department or area concerned
the general manager makes the final approval of the strategy
functional strategy
two strategy on low level management
operational and financial resources
it is a narrower and more forced strategy formulated by low level managers or frontline supervisor
operational strategy
it includes the capital investment that a company needs to start and sustain the business
financial resources
the process of choosing a solution from available alternatives
decision making