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8 Cards in this Set

  • Front
  • Back
Defining planning
Coping with uncertainty by formulating future courses of action to achieve specified results and setting goals and deciding how to achieve them
Steps of the planning process
1. Establish the organizations mission and vision
2. Formulate the grand strategy
3. Formulate the strategic plans, than the tactical and operational plans
4. Implement the strategic plans
5. Control the strategy
Importance of a mission statement
Expresses the purpose of an organization
Four basic strategy types
Defenders, prospectors, analyzers, reactors
Defenders
Experts at producing and selling narrowly defined products
Prospectors
Focus on developing new products and in seeking out new markets, rather than waiting for things to happen
Analyzers
Let other organizations take the risks of product development and marketing and than imitate what seems to work best
Reactors
Make adjustments only when finally forced to by environmental pressures