Management-Chapter 7 Flashcards
Goal
A desired future state that the organization wants to realize.
Planning
The act of determining goals and defining the means for achieving them.
Plan
A blueprint specifying the resources allocations, schedules, and other actions necessary for attaining goals.
Mission
Planning starts with the organization’s purpose or reason for existence.
Mission Statement
A broadly stated definition of the organization’s basic business scope and operations that distinguishes it from similar types of organizations.
Strategic Goals
Broad statments of where the organization wants to be in the future and pertain to the organization as a whole rather than to specific divisions or departments.
Strategic Plans
The action steps by which an organization intends to attain strategic goals.
Tactical Goals
The outcomes that major divisions and departments must achieve for the organization to reach its overall goals.
Tactical Plans
Designed to help execute major strategic plans and to accomplish a specific part of the company’s strategy.
Operational Goals
Specific, measurable results that are expect from departments, work groups and individuals.
Operational Plans
Specify the action steps toward achieving operational goals and support tactical activities.
Strategy Map
A visual representation of the key drivers of an organization’s success, showing the cause-and-effect relationship among goals and plans.
Management by Objective (MBO)
A method whereby managers and employees define goals for every department, project and person and use them to monitor subsequent performance.
Single-use Plans
Plans that are developed to achieve a set of goals that are unlikely to be repeated in the future.
Standing Plans
Ongoing plans that are used to provide guidance for tasks that occur repeatedly in the organization.
Contingency Planning
Identifies important factors in the environment and defines a range of alternative responses to be taken in the case of emergencies, setbacks or unexpected conditions.
Scenario Building
Managers look at trends and discontinuities and imagine possible alternatives futures to build a framework within which unexpected future events can be managed.
Decentralized Planning
Top executives or planning experts work with managers in major divisions or departments to develop their own goals and plans.
Stretch Goals
Reasonable yet highly ambitious and compelling goals that energize people and inspire excellence.
Intelligence Team
A cross-functional group of people who work together to gain a deep understanding of a specific competitive issue and offer insight and recommendations for planning.
