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Management & Supervision > Chapter 5: Planning > Flashcards

Chapter 5: Planning Flashcards

The foundation of successful management

1
Q

Setting goals and deciding how to achieve them

A

Planning

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2
Q

A document that outlines how goals are going to be met

A

Plan

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3
Q

A document that outlines a firm’s goals, the strategy for achieving them, and the standards for measuring success

A

Business plan

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4
Q

Sets the long-term goals and direction for an organization

A

Strategy

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5
Q

A process that involves managers from all parts of the organization in the formulation and the implementation of strategies and strategic goals

A

Strategic management

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6
Q

An organization’s purpose or reason for being

A

Mission

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7
Q

Expresses the purpose of the organization

A

Mission statement

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8
Q

Long-term goal describing “what” an organization wants to become. It casts a clear and motivational picture of the ultimate goal the organization wants to persure

A

Vision

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9
Q

Expresses what the organization should become, where it wants to go strategically

A

Vision statement

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10
Q

Also called core values statement

A

Values statement

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11
Q

Expresses what the company stands for, its core priorities, the values its employees embody, and what its products contribute to the world

A

Values statement

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12
Q

A process that determines what the organization’s long-term goals should be for the next one to five years with the resources they expect to have available

A

Strategic planning

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13
Q

They determine what contributions their departments or similar work units can make with their given resources during the next 6-24 months

A

Tactical planning

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14
Q

They determine how to accomplish specific tasks with the available resources withing the next 1-52 weeks

A

Operational planning

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15
Q

Also known as an objective

A

Goal

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16
Q

A specific commitment to achieve a measurable result within a stated period of time

A

Goal

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17
Q

Are goals either long term or short term?

A

Both

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18
Q

Generally referred to as strategic goals

A

Long-term goals

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19
Q

They tend to span 1 to 5 years and focus on achieving the strategies identified in a company’s strategic plan

A

Long-term goals

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20
Q

Sometimes referred to as tactical or operational goals

A

Short-term goals

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21
Q

They generally span 12 months and are connected to strategic goals in a hierarchy know as a means-end chain

A

Short-term goals

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22
Q

Shows how goals are connected or linked across an organization

A

Means-end chain

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23
Q

A plan that “breaks long-term output into short-term targets: or goals

A

Operating plan

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24
Q

Defines the course of action needed to achieve a stated goal

A

Action plan

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25
Q

Responses to possible future events that could threaten a company’s operations

A

Contingency plans

26
Q

A goal that is Specific, Measurable, Attainable, Results-oriented, and has Target dates

A

SMART goals

27
Q

Goals should be stated in _____ rather than vague terms

A

Specific

28
Q

Goals should be _____, or quantifiable

A

Measurable

29
Q

Goals should be realistic and _____

A

Attainable

30
Q

Goals should be _____ - they should support the organization’s vision

A

Results-oriented

31
Q

Goals should specify the _____ or deadline dates when they are to be attained

A

Target dates

32
Q

A 4-step process:
Managers and employees jointly set objectives for the employee.
Managers develop action plans.
Managers and employees periodically review the employee’s performance.
Managers make a performance appraisal and rewards the employee according to results.

A

Management by objectives

33
Q

MBO

A

Management by objectives

34
Q

The purpose of MBO is to _____ rather than to control subordinates by clearly defining goals, illustrating what success looks like, and rewarding for performance

A

Motivate

35
Q

The process of ensuring that the strategic goals set at the top level align, or “cascade,” downward with more specific short-term goals at lower levels within an organization, including an employees’ objectives and activities

A

Cascading goals

36
Q

A continuous process managers use to evaluate the progress in achieving strategic goals and to make modifications as needed

A

Planning/control cycle

37
Q

The _____ process helps us to cope with uncertainty by formulating future courses of action designed to help achieve specified results.

A

Planning

38
Q

One reason a company might create a bad strategic plan is because they make incorrect assumptions about what will happen in the market going forward

A

True

39
Q

According to management scholar Gary Hamel, companies like Apple have succeeded because their spirit of _____ has allowed them to reinvent the basis of competition within an existing industry

A

Strategy innovation

40
Q

A company’s strategy can best be described as a(n) _____ about what long-term goals or direction to pursue for the survival or prosperity of the organization

A

Educated guess

41
Q

An organization’s ability to produce goods or services more effectively than its competitors is referred to as its _____

A

Competitive advantage

42
Q

What important characteristic should the mission and vision statements express about the organization?

A

Their values

43
Q

Without having a plan in place, managers may focus only on _____ instead of keeping a long-range view and anticipating new opportunities

A

Whatever is in front of them

44
Q

Strategic planning can help encourage new ideas by stressing the importance of _____ in achieving long-range success

A

Innovation

45
Q

An organization has a sustainable competitive advantage when, for an extended period of time, it can _____

A

produce goods and services more effectively than its competitors do

46
Q

Who determines the mission statement?

A

Top management and board of directors

47
Q

A company’s values statement expresses what?

A

What its products contribute to the world
The values its employees embody
The company’s core priorities
What the company stands for

48
Q
A
49
Q

A mission statement addresses which question?

A

What is our reason for being?

50
Q

Who is responsible for tactical planning?

A

Middle management

51
Q

First-line managers are typically responsible for performing _____ planning within the organization

A

Operational

52
Q

What are the 2 types of goals?

A

Short-term and long-term

53
Q

It is the function of the _____ to take the strategic plan and develop actionable short-term goals that a business can achieve

A

Operating plan

54
Q

A(n) _____ learning orientation represents the desire to learn and improve one’s knowledge, soft-skills, and other characteristics in pursuit of personal development

A

Proactive

55
Q

Why do employers value a proactive learning orientation?

A

It drives the creativity and innovation needed in today’s global market

56
Q

When using cascading goals, where does the process end?

A

The process ends when each person has goals supporting the strategic objectives

57
Q

Making the plan and carrying out the plan represent the two _____ steps in the planning/control cycle

A

Planning

58
Q

After the fourth step of MBO, what events will take place?

A

The cycle starts over

59
Q

You can use the continuous feedback loop known as the _____ cycle to ensure you’re headed in the right direction once you’ve made plans

A

Planning/control

60
Q

To be an effective planner, you should be a(n) _____ learner in areas beyond the technicalities of your profession

A

Proactive

61
Q

What behavior would a proactive learner most likely exhibit?

A

Taking initiative

Management & Supervision (13 decks)

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