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26 Cards in this Set
- Front
- Back
planning |
coping with uncertainty by formulating future courses of action to achieve specified results |
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mission |
purpose or reason for being |
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mission statement |
which expresses the purpose of the organization |
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vision |
is a long-term goal describing "what: an organization want to become, it is a clear sense of the future and the actions needed to get there |
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vision statement |
which expresses what the organization should become, where it wants to go strategically |
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strategic planning |
they determine what the organizations' long-term goals should be for the next 1-5 years with the resources they expect have available |
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tactical planning |
that is, they determine what contributions their depts. or similar work units can make with their given resources during the next 6-24 months |
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operational planning |
they determine how to accomplish specific tasks with available resources with in the next 1-52 weeks |
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goal, or objective |
is a specific commitment to achieve a measurable result within a stated period of time |
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means-end chain |
in the chain of management (operational, tactical, strategic) the accomplish of low-level goals is the means leading to the accomplishment of high-level goals or ends |
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strategic goals |
are set by and for top management and focus on objectives for the organization as a whole |
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tactical goals |
are set by and for middle managers and focus on the actions needed to achieve strategic goals |
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operational goals |
are set by and for first-line managers and are concerned with short-term matters associated with realizing tactical goals |
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action plan |
which defines the course of action needed to achieve the stated goal |
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operating plan |
is typically designed for a 1 year period, defines how you will conduct your business based on the action plan; it identifies clear targets such as revenues, cash flow, and market share |
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standing plans |
are plans developed for activities that occur repeatedly over a period of time |
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policy |
is a standing plan that outlines the general response to a designated problem or situation |
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procedure |
is a standing plan that outlines the response to particular problems or circumstances |
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rule |
is a standing plan that designates specific required action |
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single-use plans |
are plans developed for activities that are not likely to be repeated in the future |
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program |
is a single use plan encompassing a range of projects or activities |
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project |
is a single use plan of less scope and complexity than an program |
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SMART goal |
is one that is specific, measurable, attainable, results-oriented, and has target dates |
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management by objectives (MBO) |
is a four step process in which managers and employees jointly set objectives for the employees, mangers develop action plans, mangers and employees periodically review the employees performance, and the manager makes a performance appraisal and rewards the employee according to results |
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planning/control cycle |
has tow planning step and two control steps: make the plan. Carry out the plan. Control the direction by comparing results with the plan. Control the direction by taking corrective action in two ways-- namely by correcting deviations in the plan being carried out or by improving future plans |
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- Planning requires you to set aside the time to do it - you may have to make some decisions without a lot of time to Plan |
What are the major challenges to planning? |