Chapter 5 Flashcards
best practices
methods that lead to superior performance
tactical plan
a type of plan that sets out ways to implement a strategic plan
functional plan
a plan that identifies how different parts of an enterprise will contribute to accomplishing strategic plans
zero-based budget
a budget that allocates resources as if each budget was brand new
hierarchy of objectives
an arrangement of goals such that lower-level objectives help to accomplish higher-level ones
vision
a clarification of the purpose of the organization and expresses what it hopes to be in the future
scenario planning
a mgt strategy that identifies alternative future scenarios and makes plans to deal w each
planning
the process of setting performance objectives and determining how to accomplish them
budget
a plan that commits resources to projects or activities
operational plan
a type of plan that sets out ways to implement a strategic plan
complacency trap
a mgt failing that involves being lulled into inaction by current successes or failures
contingency planning
a mgt strategy that identifies alternative courses of action to take when things go wrong
strategic plan
a plan that identifies long-term directions for the organization
long-range plans
plans that usually cover three years or more
stretch goals
performance targets that we have to work extra hard and stretch to reach
