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13 Cards in this Set
- Front
- Back
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Tactical planning |
Translating broad strategic goals and plans into specific goals and plans that are relevant to a portion of the organization. |
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Operational planning |
Identifying the specific processes required at lower levels of the organization |
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Strategic level, detail and length |
Top level, low level of detail, 3-7 years |
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Tactical level, detail, length |
Middle level, medium level detail, 1-2 years |
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Operational level, detail, length |
Frontline level, high level detail, less then a year. |
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Strategic management processes |
1. Establishment of mission and vision and goals. 2. Analysis of external opportunities and threats 3. Analysis of internal strengths and weaknesses 4. SWOT Analysis and strategy formulation 5. Strategy implementation 6. Strategic control |
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What are the Formal planning steps |
1. Situational analysis 2. Alternative plans and goals 3. Plans and goals evaluation 4. Plans and goals selection 5. Implementation 6. Monitor and control |
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Strategic planning |
Set of procedures for making decisions about organizations long term goals and strategies |
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Strategic Goals |
Major targets or end results relating to organization long term survival, value and growth |
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Conglomerate diversification |
Strategy used to add new business that produces unrelated products or are involved in unrelated markets. |
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Business strategy |
Make actions by which a business competes in a particular industry or market |
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Danger Signs |
1. Excessive emphasis on short-term revenues over long term consideration 2. Failure to establish a written code 3. A desire for simple quick fix solutions to ethical problems 4. Unwillingness to take on ethical strand that may impose financial costs 5. Consideration of ethics as a legal to issue or public relations cost 6. Lack of clear procedures for handling ethical problems 7. Responding to the demand of shareholders at the expense of other constituents. |
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Ethical climate |
Decisions based on right or wrong |
