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monkeyflex's version from 2017-05-18 23:47

Section

Question Answer
GoalEnd result that an organization is expected to achieve over a number of years
Objectivespecific expected accomplishment over a shorter period of time
Strategic Planbroad guide for major policy setting
Tactical Plansmaller scale plans to implement strategic plans
Objective Plandesigned to implement tactical plans
Contingency PlanOutline of alternate courses of action if other plans are disrupted or non-effective
Opportunities and risksplanning involves analyzing
Specific, Measurable, Attainable, Realistic, TimelySMART goals
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Question Answer
Articulated PlanStrategic Planning 1
Strategic Differentiation (research external market data)Strategic Planning 2
Organization Engagement (Cascade goals)Strategic Planning 3
Organization Transformation (talking, communicating, making changes)Strategic Planning 4
Strengths, weaknesses, opportunities, threatsswot
protected patents, cost advantages, proven managementexamples of strength
turnover, lack of direction, negative public imageweakness examples
new markets, new technologies, increased demandopportunities ex
foreign competitors, slowing market growth, regulatory requirementsthreats ex
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Question Answer
set goals=develop commitment=develop effective action plan= track progress toward goal attainment=maintain flexibilityhow to make a plan that works
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people, resources, time period, specific steps = action plan
Question Answer
proximal goalsshort term goals
distal goalslong term goals
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performance feed back: feedback
Question Answer
optional based planningkeep options open by making small investments in several alternative plans
slack resourcescushion of resources like extra time or money
economic conditions facing the business=past sales and profits=demand for products/services=reactions of current/prospective customers= business resources=actions of competitors4 factors
budget=scehdule=standard=policy=procedure=vision6 planning tools
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Question Answer
PlanningChoosing a goal and developing a method or strategy to achieve that goal.
S.M.A.R.T. GoalsSpecific, Measurable, Attainable, Realistic, and Timely
Goal CommitmentThe determination to achieve a goal
Action PlanLists the specific steps (how), people (who), resources (what), and time period (when)
Proximal goalsShort-term goals, or subgoals
Distal goalsLong-term or primary goals
Options-Based PlanningKeeping options open by making small, simultaneous investments in many alternative plans
Slack resourcesA cushion of resources that can be used with options-based planning to adapt to unanticipated change, problems, or opportunities
Strategic plansOverall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years
Purpose StatementA statement of a company's purpose or reason for existing; often referred to as an organizational mission or vision
Strategic ObjectiveA statement of a company's overall goal that unifies company-wide effort toward its vision, stretches and challenges the organization, and possesses a finish line and a time frame
Tactical PlansPlans created and implemented by middle managers that specify how the company will use resources, budgets, and people over the next six months to two years to accomplish specific goals within its strategic objective
Management by Objectives (MBO)A four-step process in which managers and employees discuss and select goals, develop tactical plans, and meet regularly to review progress toward goal accomplishment
Operational plansDay-today plans, developed and implemented by lower-level managers, for producing or delivering the organization's products and services over a 30-day to a six-month period
Single-use PlansPlans that cover unique, one-time-only events
Standing PlansPlans used repeatedly to handle frequently recurring events
PolicyA standing plan that indicates the general course of action that should be taken in response to a particular event or situation
Procedurea standing plan that indicates the specific steps that should be taken in response to a particular event
Rules and regulationsstanding plans that describe how a particular action should be performed or what must happen or not happen in response to a particular event
Budgetingquantitative planning through which managers decide how to allocate available money to best accomplish company goals
Decision makingthe process of choosing a solution from available alternatives
Rational decision makinga systematic process of defining problems, evaluating alternatives, and choosing optimal solutions
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Question Answer
Organizational structurethe vertical and horizontal configuration of departments, authority, and jobs within a company
Departmentalizationsubdividing work and workers into separate organizational units responsible for completing particular tasks
Functional departmentalizationorganizing work and workers into separate units responsible for particular business functions or areas of expertise
Product departmentalizationorganizing work and workers into separate units responsible for producing particular products or services
Customer departmentalizationorganizing work and workers into separate units responsible for particular kinds of customers
Geographic departmentalizationorganizing work and workers into separate units responsible for doing business in particular geographic areas
Matrix departmentalizationa hybrid organizational structure in which two or more forms of departmentalization, most often product and functional, are used together
Authoritythe right to give commands, take action, and make decisions to achieve organizational objectives
Chain of Commandthe vertical line of authority that classifies who reports to whom throughout the organization
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