Management

Question 1

Planning

Answer 1

Establishing objectives and goals for an organization and determining the best ways to accomplish them

Question 2

Strategic Plans

Answer 2

Plans that establish the actions and the resource allocation required to accomplish strategic goals; they’re usually defined for periods of two to five years and developed by top managers

Question 3

Steps of Strategic Planning Process

Answer 3

Defining the organization's mission, vision, & values
Performing a SWOT analysis
Developing Forecasts
Analyzing the competition
Establishing goals & objectives
Developing Action Plans

Question 4

Mission Statement

Answer 4

A brief statement of why an organization exists; in other words, what they organization aims to accomplish for customers, investors, and other stakeholders

Question 5

Vision Statement

Answer 5

A brief and inspirational expression of what a company aspires to be

Question 6

Values Statement

Answer 6

A brief articulation of the principles that guide a company’s decisions and behaviors

Question 7

SWOT Analysis

Answer 7

Identifies strengths, weaknesses, opportunities, and threats for strategic planning

Question 8

Goal

Answer 8

A broad, long-range target or aim

Question 9

Objective

Answer 9

A specific, short-range target or aim

Question 10

Leading

Answer 10

The process of guiding and motivating people to work toward organizational goals

Question 11

Cognitive Intelligence

Answer 11

reasoning, problem solving, memorization, and other rational skills

Question 12

Emotional Intelligence

Answer 12

measure of a person’s awareness of and ability to manage his or her own emotions

Question 13

Social Intelligence

Answer 13

Looking outward to understand the dynamics of social situations and the emotions of other people in addition to your own

Question 14

Organizational Culture

Answer 14

A set of shared values and norms that support the management system and that guide management and employee behavior