LESSON 3 Flashcards
The output of planning, provides a methodical way of achieving desired results
Plan
Refers to the management function that involves anticipating future trends
Planning
Planning in various levels
Top management - strategic planning
Middle management - intermediate planning
Lower management - operational planning
Process of determining the major goals of the organization
Strategic Planning
Process of determining contributions of sub-units with allocsted resources
Intermediate Planning
Process of determining how task can be best accomplished on time with available resourced
Operational Planning
Planning Process
Setting organization goals
Developing strategies
Determining resources
Setting standards
Precise statement of results sought quantified in time
Goal
The ways to realize the goals. Course of action aimed to achieve its goals
Strategies
Short term action to adjust negative internal/external influences
Tactic
A quantitative or qualitative measuring device to help monitor performances
Standards
Types of Plans
Funtional Area Plans
Time Horizon Plans
Frequency of Use Plans
Written document for implementing marketing activities
Marketing Plan
Written document states the quantity of output a company must produce
Production Plan
Document that summarizes the current financi situation
Financial Plan
Document indicates human resources need of a company
Human resources management plan
Plans intended to cover less that one year
Short range plan
Plans covering times span more than one yr
Long range plan
Plans that are used again and again
Standing Plans
Broad guidelines to help about recurring situations
Policies
Plans describe the exact series of actions
Proceedures
Statements either require or forbid a certain action
Rules
Plan developed to implement courses of action unique and unlikely to repeat
Single Use Plans
Projected expenditure for an activity
Budget
