CHAPTER 3-5 Flashcards
Provides a methodological way of achieving desired results.
Plan
According to Nickels and others, this refers to “the management function that involves anticipating future trends and determining the best strategies and tactics to achieve organizational objectives”.
Planning
TOP MANAGEMENT LEVEL
STRATEGIC PLANNING
INTERMEDIATE PLANNING
MIDDLE MANAGEMENT LEVEL
LOWER MANAGEMENT LEVEL
OPERATIONAL PLANNING
Refers to the process of determining the major goals of the organization and the policies and strategies for obtaining using resources to achieve those goals.
STRATEGIC PLANNING
Refers to “the process of determining the contributions that submits can make with allocated resources.”
INTERMEDIATE PLANNING
Refers to “the process of determining how specific tasks ca best be accomplished on time with available resources.”
OPERATIONAL PLANNING
Defined as “the precise statement of results sought, quantified in time and magnitude, where possible.”
GOALS
Defined as “a course of action aimed at ensuring that the organization will achieve its objectives. It is also the ways to realize the goals.
Strategies
Is a short term action taken by management to adjust to negative internal or external influences.
Tactic
defined as “a quantitive or qualitative measuring device designed to help monitor the performances of people, capital goods, or processes.”
standard
Type of Plans
Marketing Plan, Production plan, Financial Plan, and Human Resource Management Plan
This is the written document or blueprint for an organization’s marketing activities
Marketing Plan
this is a written document that states the quantity of output a company must produce in broad terms and by product family.
Production Plan
it is a document that summarizes the current financial situation of the firm, analyzes financial needs, and recommends a direction for financial activities.
Financial Plan
It is a document that indicates the human resource needs of a company detailed in terms of quantity and quality requirements.
Human Resource Management Plan
Plans intended to cover period of less than one year
SHORT RANGE PLANS
plans covering a time span of more than one year
LONG RANGE PLANS
used again and again, they focus on managerial situations.
STANDING PLANS
Refers to the “strategic statement that identifies why and organization exists”
Company or Corporate Mission
2 Effective Planning
recognize the planning barriers and use aids to planning
