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23 Cards in this Set
- Front
- Back
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Planning |
Defining goals, establishing strategies to achieve goals, and developing plans to integrate and coordinate activities |
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Organizing |
Arranging and structuring work to accomplish organizational goals |
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Leading |
Working with and through people to accomplish goals |
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Controlling |
Monitoring, comparing, and correcting work |
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Four reasons for planning |
1. Provides direction 2. Reduces uncertainity 3. Minimizes waste and redundancy 4. Sets the standards for controlling |
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Goals (Objectives) |
Desired outcomes or targets |
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Plans |
Documents that outline how goals are going to be met |
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Financial goals |
Related to the expected internal financial performance of the organization |
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Strategic Goals |
Related to the performance of the firm relative to factors in its external environment |
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Stated Goals |
Official statements of what an organization says, and what it wants various stakeholders to believe |
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Real Goals |
Goals that an organization actually pursues, as defined by the actions of its members |
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Strategic Plans |
Plans that apply to the entire organization's and establish the organization's overall goals |
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Operational Plans |
plans that encompass a particular operational area of the organization |
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Long-term Plans |
Plans with a time frame beyond three years |
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Short-term plans |
Plans covering one year or less |
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Specific plans |
Plans that are clearly defined and leave no room for interpretation |
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Directional Plans |
Plans that are flexible and set out general guidelines |
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Single use plan |
a one-time plan specifically designed to meet the needs of a unique situation |
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Standing plans |
Ongoing plans that provide guidance for activities performed repeatedly |
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Traditional Goal setting |
An approach to setting goals in which top managers set goals that then flow down through the organization and become subgoals for each organizational area |
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Management by Objectives (MBO) |
A process of setting mutually agreed upon goals and using those goals to evaluate employee performance |
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Environmental Scanning |
Screening information to detect emerging trends |
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Competitor Intelligence |
Gathering information about competitors that allows managers to anticipate competitors' actions rather than merely reacting to them |
