Chapter 5 Flashcards
A desired future state that the organization attempts to realize.
Goal
A blueprint specifying the resource allocations, schedules and other actions necessary for attaining goals.
Plans
Organization’s reason of existence
Mission
Broad statements of where the organization wants to be in the future, they pertain the organization as a whole rather than in divisions, also called official goals.
Strategic Goals
Plans that are actions step by step by which an organization intends to attain its goals.
Strategic plans
Goals that define the outcome s that major divisions and departments must achieve for the organization to reach its overall goals.
Tactical goals
Plans designed to help execute major strategic plans
Tactical plans
Specific results expected from departments and individuals.
Operational goals
Plans developed at the organization’s lower levels that specify action steps toward achieving operational goals.
Operational plans
Visual representation of the key drivers of an organization’s success.
Strategy map
Method of management whereby managers and employees define goals for every department, project, and person.
Manegement by objectives
Plans developed to achieve a set of goals that are unlikely to be repeated.
Single-use plans
Plans used to provide guidance for tasks performed repeatedly within the organization.
Standing plans
Plans that define company responses to specific situations such as unexpected situations.
Contingency plans
Looking at trends and discontinuities and imagining possible alternative futures.
Scenario building
Group of planning specialists that develop plans for the organization and report directly to the CEO.
Central planning department
Plans for specific divisions or departments.
Decentralized planning
Reasonable yet highly ambitious and compelling goal that energizes people.
Stretch goal
Group of managers and employees who work together to gain a deep understanding of a specific competitive issue and offer insight and recommendations.
Intelligence team
Set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment.
Strategic management
Plan of action that prescribes resource allocation and other activities for dealing with the environment.
Strategy
Reason(s) that set the organization apart from others and provides it with distinctive edge in the marketplace.
Competitive advantage
Business activity that the organization does particularly well in comparison to others.
Core competence
Condition that exists when the parts of an organization acts together to make a joint effect.
Synergy
Analysis of the strengths, weaknesses, opportunities, and threats of an organization.
SWOT Analyisis
