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34 Cards in this Set

  • Front
  • Back
setting goals and deciding how to achieve them
experts at producing and selling narrowly defined products and services; stick with what they do best
focus on developing new products or services and in seeking out new markets, rather than waiting for things to happen create new opportunities
let the other organizations take the risks of product development and marketing and then imitate or find out what works best
make adjustments only when forced to by environmental pressures
selecting/making adjustments of products and markets
producing and delivering the products
establishing roles, relationships and organizational processes
mission statement
reason for being
vision statement
what we want to become
strategic planning
top managers do this for the next one to five years, with the resources they expect to be available
tactical planning
middle management decides what contributions their departments or similar work units can make with the given resources during the next 6-24 months
operational planning
first line managers determine how to accomplish specific tasks with available resources with the next 1-52 weeks
specific commitment to achieve a measurable result within a stated period of time
mass end chain
goals are arrange in a hierarchy because accomplishment of low level goal are the means that leas to accomplishing high level goals
strategic goals
set by and for top management; focus on objectives for the organization as a whole
tactical goals
set by and for middle management; focus on the actions needed to achieve the strategic goals
action plan
defines the course of action needed to achieve the stated goal
operation plan
defines gow you will conduct business for a one year period, based on the action plan, by identifying clear targets
standing plans
developed for activities that occur repeatedly over a period of time, consist of policies, procedures, and rules
standing plan that outlines the general response to a designated problem or situation
standing plan that outlines the response to a particular problem or circumstance
standing plan that designates specific required action
single use plans
developed for activities that are not likely to be repeated in the future. can be classified as programs or projects
encompasses a range of projects or activities
of less scope and complexity that a program
management by objectives
four step process first intended to motivate subordinates thought of by Peter Drucker
management by objectives: 1
managers and employees jointly set objectives for the employee
management by objectives: 2
managers develop action plans
management by objectives: 3
managers and employees periodically review the employee's performance
management by objectives: 4
manager makes a performance appraisal and rewards the employee according to results
objectives are structures in a unified hierarchy, becoming more specific at lower levels of the organizations
planning and control cycle
make plan, carry out plan; control direction by comparing results, control direction by taking corrective action: correct deviations, improve future plans
business plan
document that outlines a proposed firm;s goals, the strategy for achieving them, and the standards for measuring success