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21 Cards in this Set
- Front
- Back
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Strategic Planning
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The process of establishing goals and making decisions that enable an organization to achieve its long-term and short-term objectives.
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Mission Statement
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A statement of the organization's basic philosophy, purpose, and reason for being.
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Visioning
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management's view of what the company should become; reflects the firm's core values, priorities, and goals.
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Strategic Plan
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Long-term plans developed by top management.
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Management by Objectives (MBO)
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A process in which the supervisor and employee jointly set the employee's objectives and the employee receives rewards upon achieving those objectives.
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Standing Plans
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Policies, procedures, methods, and rules that can be applied to recurring situations.
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Policy
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A standing plan that serves as a guide to making decisions.
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Procedure
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A standing plan that defines the sequence of activities to be performed to achieve objectives.
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Method
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A standing plan that details exactly how an operation is to be performed.
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Rule
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a directive that must be applied and enforced wherever applicable.
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Single-Use Plans
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Plans to accomplish a specific objective or to cover only a designated period.
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Budget
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A plan that expresses anticipated results in numerical, usually financial, terms for a stated period.
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Program
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A major single-use plan for a large undertaking related to accomplishing the organization's goals and objectives.
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Project
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A single-use plan for accomplishing a specific, nonrecurring activity.
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Just-In-Time (JIT) Inventory-Control System
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A system for sheduling materials to arrive precisely when they are needed in the production process.
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Kanban
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Another name for a just-in-time (JIT) inventory-control system.
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Gantt Chart
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A graphic scheduling technique that shows the activity to be scheduled on the vertical axis and necessary completion dates on the horizontal axis.
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Program Evaluation and Review Technique (PERT)
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A flowchart for managing large programs and projects that shows the necessary activities with estimates of the time needed to complete each activity and the sequential relationship of activities.
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Total Quality Management (TQM)
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An organizational approach involving all employees to satisfy customers by continually improving goods and services.
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Knowledge Management
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The systematic storage, retrieval, dissemination, and sharing of information.
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Benchmarking
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The process of identifying and improving the practices of leaders.
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