chapter 8 Flashcards
the process of setting objectives and determining how to best accomplish them
planning
identifying the specific results or desired outcomes that one intends to acheive
organizing
A statement of action steps to be taken in order to accomplish the objectives
plan
what are the steps in the planning process
- defining your objectives
- determining where you stand vis a vis objectives
- develop premises regarding future conditions
- analyze and choose among action alternatives
- implement and evaluate the results
what are the benefits of planning
- flexibility and focus
- action orientation
- coordination
- time management
- control
what are the range of short intermediate and long plans
short 1yr or less
intermediate 2-3 yrs
long term 3+
set broad comprehensive and longer term action directions for the entire organization
strategic plans
define what needs to be done in specific areas to implement strategies
operational plans
types of operational plans
production financial facilities marketing plans HR plans
policies or procedures designed for repeated use
standing plans
broad guidelines for making decisions and taking action in specific circumstances
policy
plans that describe exactly what steps are to be taken in specific circumstances
rules or procedures
only used once to meet the needs and objectives of a well defined situation in a timely manner
single use plans
single use plans that commit resources to activities projects or programs fixed flexible and zero based budget
budgets
one time activities that have clear beginning and end points project management and project schedules
projects
making assumptions about what will happen in the future
forecasting
identifying alternative courses of action that can be implemented to meet the needs of changing circumstances anticipate changing conditions
contingency planning
a long term version of contingency planning
scenario planning
the use of external comparisons to better evaluate current performance and identify possible actions for the future
benchmarking
coordinating the planning function for the total organization or one of its major components
use of staff planners
participatory planning requires that the planning process includes people who will be affected by plans or who help implement them
participation and involvement
the process of measuring performance and taking action to ensure desired results
controlling
what are the steps in the control process
step 1-establish objectives and standards
step 2-measure actual performance
step 3-compare results w objectives and standards
step 4-take corrective action as needed
a structured process of regular communication
management by objectives
steps in MBO
defining organizational objectives
defining employees objectives
continious commucation
evaluation and feedback
the act of influencing behavior through reprimand
discipline
ties reprimands to the frequency and severity of the employees infractions
progressive discipline
determination of the point at which sales revenues are sufficient to cover costs
break even analysis
goal is to ensure that the inventory is just the right size to meet performance needs thus minimizing the cost
inventory control
quality control involves checking processes materials products and services to ensure that they meet high standards
statistical quality control
