Organisational Planning and Goal Setting Flashcards

1
Q

goal

A

a desired future state that the organisation attempts to realise

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2
Q

plan

A

a blueprint specifying the resource allocations, schedules and other actions necessary for attaining goals

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3
Q

mission

A

the organisation’s reason for existence

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4
Q

mission statement

A

a broadly stated definition of the organisation’s basic business scope and operations that distinguishes it from similar types of organisations

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5
Q

strategic goals

A

broad statements describing where the organisation want to be in the future

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6
Q

strategic planning

A

a 3-5 years planning process that is generally conducted by senior managers and involves the development of long term goals and objectives

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7
Q

tactical planning

A

a 1-2 years planning process that is generally conducted by middle management in order to create objectives and plans. Tactical planning usually involves achieving the goals of each department rather than the overall organisation

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8
Q

operational planning

A

a day-to-day planning process that is generally conducted by frontline managers to specify action steps towards achieving operational goals and to support tactical plans

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9
Q

criteria for effective goals

A
  • specific
  • measurable
  • achievable
  • realistic
  • timely
  • linked to rewards
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10
Q

key performance indicator (KPI)

A

a measure or a set of data that allows a business to determine whether it is meeting its business objectives

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11
Q

management by objectives (MBO)

A

a method of management whereby managers and employees define goals for every department, project and person, and use them to monitor subsequent performance

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12
Q

steps in MBO

A
  1. set goals. Goals are set collaboratively between managers and employees. Mutual agreement between employee and supervisor creates the strongest commitment to achieving goals
  2. develop action plans. An action plan defines the course of action needed to achieve the stated goals. Action plans are made for both individuals and departments
  3. review progress. A periodic progress review is important to ensure action plans are working. Periodic check-ups allow managers and employees to see whether they are on target or whether corrective action is necessary. The action plan can be changed whenever goals are not met
  4. appraise overall performance. The final step in MBO is to evaluate whether annual goals have been achieved for both individuals and departments. Successful or failure to achieve goals can become part of the performance appraisal system and the designation of salary increases and other rewards.
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13
Q

advantages of MBO

A
  • focuses manager and employee efforts on activities that will lead to goal achievement
  • can improve performance at all company levels
  • improves employee motivation
  • aligns individual and department goals with company goals
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14
Q

disadvantages of MBO

A
  • an overemphasis on ‘meeting the goals’ can obscure the means that people use to get there. People may cut corners, ignore potential problems and behave unethically just to meet the targets
  • cannot stand alone; it is only a part of effectively managing people to achieve goals
  • feedback is typically infrequent enough for any chance at meaningful corrective action and sustained motivation
  • it can be incredibly time consuming for the manager to sit down with each individual employee and give regular feedback
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15
Q

advantages of goals and plans

A
  • provide a source of motivation and commitment
  • guide resource allocation
  • are a guide to action
  • set a standard of performance
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16
Q

disadvantages of goals and plans

A
  • can create a false sense of certainty
  • may cause rigidity in a turbulent environment
  • can get in the way of intuition and creativity
17
Q

approaches that help brace the organisation for unexpected events

A
  • contingency planning
  • scenario building
  • crisis planning
18
Q

contingency plans

A

define organisation responses to specific situations, such as emergencies, setbacks and unexpected conditions

19
Q

scenario building

A

the planning activity in which future possibilities are visualised by extrapolating current trends and considering future discontinuities

20
Q

crisis planning

A

there are three primary stages of crisis; pre-event, response and recovery, and post-event.

within each stage of crisis, a range of management functions are identified that aim to prepare organisations for potential disturbances to operations, limit consequences and maintain organisational survival, and ensure that the organisation learns from its experiences over time

a good crisis plan can mitigate the effects of sudden and devastating events

21
Q

decentralised planning

A

managers work with planning experts to develop their own strategic plans

22
Q

stretch goal

A

a reasonable yet highly ambitious and compelling goal that energises people and inspires excellence

23
Q

approaches that help brace the organisation for unexpected events

A
  • contingency planning
  • scenario building
  • crisis planning
24
Q

contingency plans

A

plans that define organisation responses to specific situations, such as emergencies, setbacks or unexpected conditions

25
Q

scenario building

A

the planning activity in which future possibilities are visualised by extrapolating current trends and considering future discontinuities

26
Q

vision

A

the organisations aspirations for the future

27
Q

reasons to have a mission and a vision

A
  • they communicate meaning and values to external stakeholders, potentially attracting their support
  • they give meaning to the day-to-day activities and ideally inspire and energise employees
  • they provide an orientation for daily decision-making and action: tells us what our strategies should try to achieve
  • they broaden employees’ view of the organisation and thus facilitate coordination