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MGMT 3000 > MGMT 3000 Chapter 7 > Flashcards

MGMT 3000 Chapter 7 Flashcards

1
Q

what did Drucker say about goals/objectives?

A
  • Any business enterprise must build a true team and weld individual efforts into a common effort
    • Each member of the enterprise contributes something different
    • All must pull in the same direction
    • Contributions must fit together to produce a whole
    • No gaps, friction and without unnecessary duplication of effort
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2
Q

what is a goal?

A

a desired future circumstance or condition that the organization attempts to realize

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3
Q

what is a plan?

A

a blueprint for goal achievement and specifies the necessary resource allocations, schedules, tasks and other actions

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4
Q

what is planning?

A

incorporates both goals and plans; determine the organizations goals and defining the means for achieving them

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5
Q

what are the levels of goals to plans? (from top to bottom)

A
  • mission statement
  • strategic goals/plans
  • tactical goals/plans
    -operational goals/plans
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6
Q

who uses strategic goals/plans?

A

senior management (organization as a whole)

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7
Q

who uses tactical goals/plans?

A

middle management (major divisions, functions)

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8
Q

who uses operational goals?

A

lower management (departments, individuals)

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9
Q

what are strategic goals? (official goals)

A

broad statements describing where the organization wants to be in the future, long term

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10
Q

what are strategic plans?

A

the action steps by which the company intends to attain the strategic goals

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11
Q

what is the blueprint that defines the organizational activities and resource allocations – in the form of cash, personnel, space and facilities – required for meeting these targets?

A

strategic plans

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12
Q

what are tactical goals?

A

the results that major division and departments within the organization intend to achieve

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13
Q

what are tactical plans?

A

define what major departments and organizational subunits will do to implement the organization’s strategic plan

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14
Q

what are operational goals?

A

results expected from departments, work groups and individuals

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15
Q

what are operational plans?

A

developed at the lower levels of the organization to specify action plans toward achieving operational goals and to support tactical plans

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16
Q

what is an important component to operational plans?

A

schedules

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17
Q

what are the steps to the organizational planning process?

A
  1. develop the plan
  2. translate the plan
  3. plan operations
  4. performance management
  5. monitor and learn
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18
Q

how do you develop the plan?

A
  • define the mission and vision
  • set goals
  • manage goal conflict
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19
Q

how do you translate the plan?

A
  • define tactical plans and objectives
  • develop strategy map
  • define contingency plans and scenarios
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20
Q

how do you plan operations ?

A
  • define operational goals and plans
  • select measures and targets
  • set stretch goals
  • crisis planning
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21
Q

how do you do performance management?

A
  • management by objectives
  • single use plans
  • standing plans
22
Q

what is the organizational mission?

A

reason for organizations existence

23
Q

what is included in the mission statement?

A

○ Reason the organization exists
○ How they differ from their competitors
○ May include statement of their values

24
Q

what provides basis for development of all subsequent goals and plans?

A

the organizational mission

25
Q

what are the approaches to managing a goal conflict?

A
  • build a coalition
    • Modify goals by time or location
    • Address conflicts with debate and dialogue
    • Break down barriers and promote cross-silo cooperation
26
Q

what is a coalition management?

A

building an alliance of people who support managers and influence efforts toward achieving goals

27
Q

what is a strategy map?

A

a visual representation of the key drivers of an organization’s success

28
Q

what planning approaches do managers use for performance management?

A
  • management by objectives
  • single use plans
  • standing plans
  • key performance indicators
29
Q

what are characteristics of effective goals?

A
  • specific and measurable
  • defined time period
  • cover key result areas
  • challenging but realistic
  • linked to rewards
30
Q

who developed management by objectives (MBO)?

A

Peter Drucker

31
Q

what is management by objectives (MBO)?

A

a system where managers and employees define goals for every department, project and person and use them to monitor subsequent performance

32
Q

what 4 major activities make MBO successful?

A
  1. set goals
  2. develop action plans
  3. review progress
  4. appraise overall performance
33
Q

what are the benefits of MBO?

A
  • focuses manager and employee efforts on things that will lead to goal attainment
  • improves performance at all company levels
  • improves employee motivation
  • aligns individual and departmental goals with company goals
34
Q

what are the cons to MBO?

A
  • over emphasis on “meeting the goals” can obscure the means that people use to get there
  • people can cut corners
  • MBO cannot stand alone
35
Q

what is management by means (MBM)?

A

focuses attention on the methods and processes to achieve goals

36
Q

who coined management by means (MBM)?

A

H. Thomas Johnson

37
Q

what focuses people on considering the means rather than just reaching the goals?

A

MBM

38
Q

what are single use plans?

A

developed to achieve a set of goals that are not likely to be repeated in the future

39
Q

what are standing plans?

A

ongoing plans that provide guidance for tasks or situations that occur repeatedly within the organization

40
Q

what are major types of single use plans?

A
  • program
  • project
41
Q

what are major types of standing plans?

A
  • policy
  • rule
  • procedure
42
Q

what are the benefits of planning (goals and plans)?

A
  • provide a source of motivation and commitment
  • guide resource allocation
  • guide to action
  • set a standard of performance
43
Q

what are the limitation of planning (goals and plans)?

A
  • can create too much pressure
  • create a false sense of certainty
  • cause rigidity in a turbulent environment
  • get in the way of intuition and creativity
44
Q

what do you use to plan for a turbulent environment?

A
  • contingency planning
  • scenario building
  • stretch goals
  • crisis planning
45
Q

what defines company resources to be taken in the case of emergencies, setbacks or unexpected conditions ?

A

contingency plans

46
Q

what involves looking at current trends and discontinuities and visualizing future possibilities and managers think about what could be?

A

scenario building

47
Q

what are reasonable yet highly ambitious goals that are so clear, compelling and imaginative that they fire up employees and engender excellence?

A

stretch goals

48
Q

what helps prepare the organization, its managers, and its employees to cope with sudden catastrophic events that could destroy the firm if a crisis response plan is not in place?

A

crisis planning

49
Q

what is an example of a crisis?

A

covid 19

50
Q

what are the two essential stages of crisis planning?

A
  • crisis prevention
  • crisis preparation

MGMT 3000 (9 decks)

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