Planning And Strategic Management

Front 1

Basic Planning Process Steps

Back 1

Situational Analysis

Alternative Plans and Goals

Goal and Plan Evaluation

Goal and Plan Selection

Implementation

Monitor and Control

Front 2

Situational Analysis

Back 2

A process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration; p. 120–121.

Front 3

Goal

Back 3

A target or end that management desires to reach; p. 121.

Front 4

Goal Qualities

Back 4

S.M.A.R.T.

Specific, Measurable, Attainable, Relevant, Time-bound.

Front 5

Plans

Back 5

The actions or means managers intend to use to achieve organizational goals; p. 122.

Front 6

Contingency Plans

Back 6

"What if” plans that include sets of actions to be taken when a company's initial plans have not worked well or if events in the external environment require a sudden change; p. 122.

Front 7

Scenario

Back 7

A narrative that describes a particular set of future conditions; p. 59–60, 85–86, 123.

Front 8

Strategic Planning

Back 8

A set of procedures for making decisions about the organization's long-term goals and strategies; p. 125, see also Planning.

Front 9

Strategic Goals

Back 9

Major targets or end results relating to the organization's long-term survival, value, and growth; p. 125–126, 131.

Front 10

Strategy

Back 10

A pattern of actions and resource allocations designed to achieve the organization's goals; p. 125.

Front 11

Tactical Planning

Back 11

A set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of the organization, such as a functional area like marketing; p. 125–127, 126.

Front 12

Operational Planning

Back 12

The process of identifying the specific procedures and processes required at lower levels of the organization; p. 125–127, 126.

Front 13

Strategic Management

Back 13

A process that involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies; p. 129–130.

Front 14

Strategic Management Process

Back 14

1. Establishment of mission, vision, and goals. 2. Analysis of external opportunities and threats. 3. Analysis of internal strengths and weaknesses.

4. SWOT (strengths, weaknesses, opportunities, and threats) analysis and strategy formulation. 5. Strategy implementation. 6. Strategic control.

Front 15

Strategic Vision

Back 15

The long-term direction and strategic intent of a company; p.130–131.

Front 16

Mission

Back 16

An organization's basic purpose and scope of operations; p. 68–69, 130–131.

Front 17

Stakeholders

Back 17

Groups and individuals who affect and are affected by the achievement of the organization's mission, goals, and strategies; p. 132.

Front 18

Resources

Back 18

Inputs to a system that can enhance performance; p. 134–136.

Front 19

Core Capability (Competence)

Back 19

A unique skill and/or knowledge an organization possesses that gives it an edge over competitors; p. 134–136, 298–299.

Front 20

SWOT Analysis

Back 20

A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy; p. 137–138, 149–150.

Front 21

Corporate Strategy

Back 21

The set of businesses, markets, or industries in which an organization competes and the distribution of resources among those entities; p. 138–141.

Front 22

Concentration Strategy

Back 22

A strategy employed for an organization that operates a single business and competes in a single industry; p. 138–139.

Front 23

Vertical Integration Strategy

Back 23

The acquisition or development of new businesses that produce parts or components of the organization's product; p. 138–139.

Front 24

Concentric Diversification Strategy

Back 24

A strategy used to add new businesses that produce related products or are involved in related markets and activities; p. 138–139.

Front 25

Conglomerate Diversification Strategy

Back 25

A strategy used to add new businesses that produce unrelated products or are involved in unrelated markets and activities; p. 139.

Front 26

Question Marks

Back 26

BCG Matrix. High-growth, weak-competitive-position businesses. Requires substantial investment to improve their position; otherwise divestiture is recommended.

Front 27

Business Portfolio

Back 27

Diversified businesses of an organization.

Front 28

BCG Matrix

Back 28

One of the most popular techniques for analyzing a corporation's strategy for managing its portfolio. Developed by Boston Consulting Group.

Front 29

Stars

Back 29

High-growth, strong-competitive-position businesses. Require heavy investment, but their strong position allows them to generate the needed revenues.

Front 30

Cash Cows

Back 30

Low-growth, strong-competitive-position businesses. Generate revenues in excess of their investment needs and therefore fund other businesses.

Front 31

Dogs

Back 31

Low-growth, weak-competitive-position businesses. Remaining revenues from these businesses are realized, and then the businesses are divested.