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Global Management > Chapter 6- Planning > Flashcards

Chapter 6- Planning Flashcards

1
Q

What is the 1st step in the planning process?

A

Define your objectives

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2
Q

Define your objectives

A

Knowing what you want your results to be

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3
Q

What is the 2nd step in the planning process?

A

Define where you stand

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4
Q

Define where you stand

A

Knowing what weaknesses hold you back and strengths that move you forward.

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5
Q

What is the 3rd step in the planning process?

A

Developing premises for future events.

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6
Q

Develop premises for future events

A

Evaluate and make up scenarios that could happen in the future

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7
Q

What is the 4th step in the planning process?

A

Analyze alternatives and make up a plan

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8
Q

Analyze alternatives and make up a plan

A

List possible alternatives and then pick the one that best achieves your objectives.

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9
Q

What is the 5th step in the planning process?

A

Implement the plan and evaluate your results.

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10
Q

Implement the plan and evaluate results

A

Take action and evaluate your results.

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11
Q

1st benefit of planning

A

Improves focus and flexibility

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12
Q

Improve focus and flexibility

A

Businesses know what’s best for their customers and how to serve them.

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13
Q

Improve focus and flexibility #2

A

Businesses are flexible when they can adapt to certain situations

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14
Q

2nd benefit of planning

A

Improves action oriented

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15
Q

Improve action oriented

A

Stephen convey said instead of planning a lot , we need to focus on the things that really count.

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16
Q

Improve action oriented #2

A

Stephen convey said planning makes result, advantage, priority and change oriented.

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17
Q

Result

A

Having a performance sense of direction

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18
Q

Advantage

A

Using your materials to the best of their advantage

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19
Q

Priority

A

Making sure the most important things get done first

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20
Q

Change oriented

A

Seeing problems before hand so they can be dealt with.

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21
Q

3rd benefit of planning

A

Improves coordination and control

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22
Q

Improves coordination and control

A

If everyone’s plans in the business are coordinated then this will produce better results

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23
Q

Improve coordination and control #2

A

Better plans create better control because you can adjust things as they move along.

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24
Q

Why is long term direction important?

A

Without long term direction people can work hard and achieve nothing

25
Q

Strategic plan

A

Planning for the organization as whole.

26
Q

Who makes strategic plans?

A

Senior managers

27
Q

Is a strategic plan meant to be short or long term?

A

Long term

28
Q

Example of a strategic plan

A

Skype planned to build their business but then eBay bought it out.

29
Q

Tactical plan

A

Helps plan part of a strategic plan

30
Q

Operational plan

A

Plans in an organization that need to be done in the short term

31
Q

Policy

A

Broad guidelines for making decisions and taking action.

32
Q

Example of policy

A

Pay increases, promotions and discipline.

33
Q

Procedure

A

Rule that is to be used for certain situations.

34
Q

Example of a procedure

A

Under a sexual harassment policy we should know how things should be handled.

35
Q

Zero based budget

A

Distributes materials as if each budget were brand new

36
Q

Zero based budget funds

A

No funds are guaranteed

37
Q

Zero based budget cycle

A

Each new budget cycle should have a new proposal

38
Q

Forecasting

A

Attempting to predict the future

39
Q

Contingency

A

Alternatives to take when things go wrong

40
Q

Scenario

A

Identifies future scenarios and how to deal with them

41
Q

Benchmarking

A

External and Internal comparisons to improve your business

42
Q

Benchmarking Example

A

Look at what is working for other business and implementing that into your own business

43
Q

1st Pro of a staff planner

A

Coordinate and engage plans

44
Q

2nd pro of staff planner

A

Bring focus and expertise to accomplish tasks

45
Q

Con of staff planners

A

Lack of communication between staff members and line managers

46
Q

Specific goals

A

Target key results and outcomes to be accomplished.

47
Q

Measurable

A

Described so results can be valued without uncertainty

48
Q

Attainable

A

Realistic and possible to accomplish

49
Q

Referred to

A

Reminding people of goals to keep them on the task at hand.

50
Q

Timely

A

Timetables and due dates

51
Q

Hierarchy of objectives

A

Goals that support each other lower objectives support higher objectives.

52
Q

Improvement objectives in MBO

A

Intensions for performance improvements

53
Q

Example of improvement objectives in MBO

A

Reduce quality rejects by 10%

54
Q

Personal development objectives

A

Intensions for personal growth

55
Q

Example of personal development objectives

A

Learning the latest version of a computer spreadsheet package

56
Q

What is planning ?

A

Deciding what you want to accomplish and how you can achieve it.

57
Q

MBO with team leaders and members

A

Determine objectives

58
Q

2 MBO with team leaders and members

A

negotiate between bosses and employees

59
Q

3 MBO with team leaders and members

A

Objectives are prioritized and measurable

Global Management (1 decks)

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