Chapter 5: Plans and Planning Technique Flashcards
Define planning
planning is the process of setting performance objectives and determining how to accomplish them
What is the process of setting performance objectives and determining how to accomplish them?
planning
What are the 5 steps in the planning process?
Step 1: Define your objectives
Step 2: Determine where you stand vis-a-vis objectives
Step 3: Develop premises regarding future conditions
Step 4: Make a plan
Step 5: Implement the plan and evaluate results
Define objectives
objectives are specific results that one wishes to achieve
What are specific results that one wishes to achieve?
objectives
Define plan
A plan is a statement of intended means for accomplishing objectives
What is a statement of intended means for accomplishing objectives?
a plan
Define complacency trap
the complacency trap is being lulled into inaction by current successes or failures
What is being lulled into inaction by current successes or failures?
the complacency trap
What happens in a hierarchy of objectives?
lower level objectives help to accomplish higher-level ones
Define short-range plans
short-range plans are plans that usually cover a year or less
What are plans that usually cover a year or less?
short-range plans
Define long-range plans
long-range plans are plans that usually cover three years or more
What are plans that usually cover three years or more?
long-range plans
Define strategic plans
A strategic plan identifies long-term directions for the organization
What identifies long-term directions for the organization?
strategic plans
Define vision
A vision clarifies the purpose of the organization and expresses what is hopes to be in the future
What clarifies the purpose of the organization and expresses what is hopes to be in the future?
a vision
Define operational plan/tactical plan
An operation/tactical plan sets out ways to implement a strategic plan
What sets out ways to implement a strategic plan?
an operational/tactical plan
Define functional plan
a functional plan identifies how different parts of an enterprise will contribute to accomplishing strategic plans
What identifies how different parts of an enterprise will contribute to accomplishing strategic plans?
a functional plan
Define policy
A policy is a standing plan that communicates broad guidelines for decisions and actions
What is identifies how different parts of an enterprise will contribute to accomplishing strategic plans?
a policy
Define procedure
A procedure or rule precisely describes actions to take in specific situations
What precisely describes actions to take in specific situations?
procedure
Define budget
A budget is a plan that commits resources to projects or activities
What is a plan that commits resources to projects or activities?
a budget
Define zero-based budget
A zero-based budget allocates resources as if each budget was brand new
What allocates resources as if each budget was brand new?
a zero-based budget
Define forecasting
forecasting attempts to predict the future
What attempts to predict the future?
forecasting
Define contingency planning
Contingency planning identifies alternative courses of action to take when things go wrong
What identifies alternative courses of action to take when things go wrong?
contingency planning
Define scenario planning
scenario planning identifies alternative future scenarios and makes plans to deal with each
What identifies alternative future scenarios and makes plans to deal with each?
scenario planning
Define benchmarking
benchmarking uses external insights to gain insight for planning
What uses external insights to gain insight for planning?
benchmarking
Define best practices
best practices are methods that lead to superior performance
What are methods that lead to superior performance?
best practices
Define participatory planning
Participatory planning includes the persons who will be affected by plans and/or who will be asked to implement them
What includes the persons who will be affected by plans and/or who will be asked to implement them?
participatory planning
Define stretch goals
stretch goals are performance targets that we have to work extra hard and stretch to reach
What are performance targets that we have to work extra hard and stretch to reach?
stretch goals
