Chapter 7 Flashcards
Is a desired future state that the organization attempts to realize
A goal
Is a blue print for goal achievement and specifies the necessary resource allocations, schedules, tasks, and other actions
A Plan
Official goals, broad statements describing the organization’s future
Strategic Goals
Define the action steps the company will take from two to five years in the future
Strategic Plans
The results that major divisions and departments within the organization intend to achieve
Tactical Goals
Define the action steps the company will take over the next year or so
Tactical Plans
- Direct employees and resources towards achieving specific outcomes
- Guide toward efficient and effective performace
- Criteria for effective goals.
-Operational Planning
- Are specific and measureable
- Are linked to rewards
- Are challenging but realistic
- Cover key results areas
- Have a defined time period
-Characteristics of Effective goals
Operational Planning
- Management by Objectives (MBO)
- single use plans
- standing plans
Manager by Means
focuses attention on the methods and processes on achieve goals. When managers pursue their activities in the right way, positive outcomes will results.
Single Use Plans
- Achieve one time goals
- program: building new headquarters, converting paper files to digital
- Project: renovating the office, setting up a new company intranet.
Standing Plans Policy
Sexual harassment policies, Internet and social media policies.
Standing Plans Policy
No eating rules in areas of company where employees are visible to public.
Standing Plans Procedure:
Procedures for issuing refunds, procedures or handling employee grievances.
Pros of Goals and Plans
- provide a source of motivation and commitment
- guide resource allocation
- set a standard of performance.
Cons of Goals and plans
- can create a false sense of certainty
- may cause rigidity in a turbulent environment
- can get in the way of intuition and creativity
Contingency Panning
-Identifies important factors in the environment and define a range of alternative responses to be taken in the case of emergencies, setbacks, or unexpected conditions .
Building Scenarios
- Managers look at trends and discontinuities and imagine possible alternative futures to build a framework within which unexpected future events can be managed.
Crisis Planning
- Cope with unexpected events that are sudden and devastating
- prevention
- preparation
Stretch Goals
- are reasonable yet highly ambitious goals that are clear, compelling, an imaginative.
Dash boards
- Keep track of key performances metrics
- align and track goals
- can be applied throughout the company on the factory or sales floor.
Effective goals are precisely defined and allow for measurable performance. They focus on the key result areas that contribute most to desired performance. They should be challenging but not unreasonably difficult. Finally, they should specify the time period that they cover and they should be tied to valued rewards
Characteristic of effective goals
