ch 6 Flashcards
Process of coordinating ppl and other resources to achive the goals of an organizaition
Management
Most orgs make use of 4 kinds of resources to meet org goals:
1.Material resources
2.Human resources
3.Financial resources
4.Informational resources
the tangible physical resources an org uses
Material resources
People
Human resources
Funds an org uses to meet its obligations to investors and creditors
financial resources
Informational resources
Establishing org goals and deciding how to accomplish them
Planning
A statement of the basic purpose that makes an org diff from others
Mission
Identification and evaluation of a firm’s strengths, weaknesses, opportunities, and threats.
SWOT analysis
firms favorable characteristics and core competencies - approaches and processes that a company performs well that may give it an advantage over its competitors
Strengths
Internal limitations a company faces in developing or implementing plans
Weaknesses
Favorable conditions in the environment that could benefit the org of properly executed
opportunities
Conditions or barrier that may prevent the firm from reaching its objective
Threats
Outline of the action by which an org intends to accomplish its goals and objectives
Plan
Strategic Plan
Tactical Plan
Operational Plan
contingency plan
Types of plans
Strategic Plan
Orgs broadest plan, dev as a guide for major policy setting and decision making
Smaller-scale plan dev to implement a strategy
Tactical plan