Chapter 5 Management

Front 1

Planning

Back 1

coping with uncertainty by formulating future courses of action to achieve specified results

Front 2

What are the four benefits of planning

Back 2

1. Planning helps you check on your progress
2. Planning helps you coordinate activities
3.Planning helps you think ahead
4. Planning helps you cope with uncertainty

Front 3

Raymond Miles and Charles Snow suggest that organizations adopt one of four approaches. What are they?

Back 3

1. Defenders
2. Prospectors
3. analyzers
4. reactors

Front 4

defenders

Back 4

are expert at producing and selling narrowly defined products or services

"Lets stick with what we do best, avoid other involvements"

Front 5

Prospectors

Back 5

focus on developing new products or services and in seeking out new markets rather than waiting for things to happen.

"lets create our own opportunities not wait for them"

Front 6

Analyzers

Back 6

let other organizations take the risks of product development and marketing and then imitate or perhaps slightly improve on, what seems to work best

"let others take the risks of innovating, and well imitate what works best"

Front 7

Reactors

Back 7

Make adjustments only when finally forced to by environmental pressures.

"lets wait until theres a crisis then well react

Front 8

adaptive cycle

Back 8

portrays businesses s as continuously cycling through decisions about three kinds of business problems

Front 9

What are the 3 kinds of business problems that Miles and Snow came up with?

Back 9

1.entrepreneurial (selecting and making adjustments of products)

2. engineering (producing and delivering the products)

3. administrative(establishing roles, relationships, and organizational processes

Front 10

mission statement

Back 10

expressed the purpose of the organization

Front 11

vision

Back 11

is a long term goal describing "what" an organization wants to become. It is a clear sense of the future and the actions needed to get there.

Front 12

vision statement

Back 12

expresses what the organization should become, where it wants to go strategically.

Front 13

strategic planning

Back 13

determine what the organizations long term goals should be for the next 1-5 years with the resources they expect to have available (top managers)

Front 14

tactical planning

Back 14

determine what contributions their departments or similar work units can make with their given resources during the next 6-24 months

(middle management)

Front 15

operational planning

Back 15

determine how to accomplish specific tasks with available resources within the next 1-52 weeks.

(first line management)

Front 16

means-end chain

Back 16

goals are arranged in a hierarcy because in the chaini management, the accomplishment of low level goals is the means leading to the accomplishment of high level goals or ends.

Front 17

operating plan

Back 17

typically designed fora 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.

Front 18

Standing Plans

Back 18

are plans developed for activities that occur repeatedly over a period of time

Front 19

policy

Back 19

standing plan that outlines the general response to a designated problem or siutation

Front 20

procedure(standard operating procedure)

Back 20

standing plan that outlines the response to a particular problems or circumstances

Front 21

rule

Back 21

a standing plan that designates specific required action

Front 22

single use plans

Back 22

plans developed for activities that are not likely to be repeated in the future. These can be either programs or projects.

Front 23

program

Back 23

single use plan encompassing a range of projects or activities

ex. space program

Front 24

project

Back 24

single use plan of less scope and complexity than a program

Front 25

management by objectives (MBO)

Back 25

A four step process in which

1. managers and employees joinly set objectives for the employee
2. managers develop action plans
3. managers and employees periodically review the employees performance
4. manager makes a performance appraisal and rewards the employee according to results

Front 26

In order for MBO to be successful what 3 things need to happen

Back 26

1. top management must be committed
2. It must be applied organizationwide
3. objectives must cascade
(cascading)- objectives down through the organization, that is objectives are structure in a unified hierarchy becoming more specific at lower levels of the organization.

Front 27

SMART GOALS

Back 27

Specific, measurable, attainable, results-oriented, and has target dates

Front 28

planning/control cycle

Back 28

has two planning steps
1. make the plan
2. carry out the plan

has two controlling steps
3. control the direction by comparing results with the plan
4. 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

Front 29

project planning

Back 29

the preparation of single use plans or projects

Front 30

project management

Back 30

achieving a set of goals through planning, scheduling and maintaining progress of the activities that comprise the project

Front 31

skunkworks

Back 31

the term given to a project team whose members are separated from the normal operation of an organization and asked to produce a new innovative product

Front 32

project life cycle

Back 32

has four stages from start to finish
1. definition
2. planning
3. execution
4. closing