Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
19 Cards in this Set
- Front
- Back
- 3rd side (hint)
Planning |
logical and systematic approach for formulating objectives, programs, policies, procedures, budgets, rules and regulations and other types of plans |
|
|
Vision |
statement of what you want to do |
|
|
Mission |
statement to achieve your goal. |
|
|
Four Major Factors Summarize the essential nature of planning |
1.Contribution to purpose and objectives
2.Planning as the first basic function
3. Planning as a function of all managers
4. Planning for efficient organization |
CPPPeo |
|
Importance of Planning |
1.To offset uncertainty and change (constraints). 2.To focus attention to planned targets. 3. To gain economical and efficient operation. 4. To facilitate control. |
|
|
Plan should be smart |
SIMPLE MEASURABLE ATTAINABLE REALISTIC TIME BOUNDED |
|
|
Kinds of Objectives |
Organizational Objectives Managerial/Departmental Objectives Individual Objectives |
|
|
Organizational Objectives |
general direction and purposes of an organization. |
|
|
Managerial/Departmental Objective |
identify the goals of particular department, or organization segment. |
|
|
Individual Objectives |
personalized objectives. |
|
|
Characteristics of Objectives |
*Must be specific /clear /concise *Must be practical *Must be quantifiable or measureable |
|
|
Types of setting objectives |
Profitability Customer Service Employee-Management Needs And Well Being |
|
|
Corporate Social Responsibility |
is the continuing commitment by business to behave ethically. |
|
|
Unified Framework of Plans |
CEO, VPs MIDDLE MANAGEMENT SUPERVISORY MANAGEMENT |
|
|
Single Use Plans |
1. Program- actual course of action 2. Budget- Plan stated in financial Terms |
|
|
Ongoing Plans |
3. Policy- basic guidelines for action. 4. Procedures- step-by-step directions 5. Rules- specific plans for controlling human behavior. |
|
|
Types of Planning According to Range of Plans |
Short range plans- 6 months to 1 year Long Range Plans- 5 to 20 years |
|
|
How Management Gets Results |
1. Management by Objectives 2. Management by Exceptions 3. Management by Committees 4. Total Quality Management |
|
|
Strategy |
method of shaping a company's future |
|