Management 3000 Chapter 5 – Flashcards
Unlock all answers in this set
Unlock answersquestion
Planning
answer
setting goals and deciding how to achieve them
question
Planning and Strategic Management
answer
1. Establish the organizations mission and vision 2. Formulate the grand strategy 3. Formulate the strategic plans, then the tactical and operational plans 4. Implement the strategic plans 5. Control the strategy
question
Defenders
answer
are expert at producing and selling narrowly defined products or services
question
Prospectors
answer
focus on developing new products or services and in seeking out new markets, rather than waiting for things to happen
question
Analyzers
answer
let other organizations take the risks of product development and marketing and then imitate (or perhaps slightly improve on)what seems to work best
question
Reactors
answer
make adjustments only when finally forced to by environmental pressures
question
Adaptive Cycle
answer
entrepreneurial, engineering, administrative, organizational
question
Mission Statement
answer
expresses the purpose of the organization
question
Vision
answer
long-term goal describing what an organization wants to become, clear sense of the future and the actions needed to get there
question
Vision Statement
answer
expresses what the organization should become and where it wants to go strategically
question
Strategic Planning
answer
TOP MANAGEMENT determine what the organizations long-term goals should be for the next 1-5 years with the resources they expect to have available
question
Tactical Planning
answer
MIDDLE MANAGEMENT determine what contributions their departments or similar work units can make with their given resources during the next 6-24 months
question
Operational Planning
answer
FIRST LINE MANAGEMENT determine how to accomplish specific tasks with available resources within the next 1-52 weeks
question
Means-end Chain
answer
in a chaine of management the accomplishment of low-level goals is the means leading to the accomplishment of high-level goals or ends
question
Strategic Goals
answer
set by and for TOP management and focus on objectives for the organization as a whole
question
Tactical goals
answer
are set by and for MIDDLE managers and focus on the actions needed to achieve strategic goals
question
Operational Goals
answer
set by and for FIRST-LINE managers and are concerned with short-term matters associated with realizing tactical goals
question
Action Plan
answer
defines the course of action needed to achieve the stated goal
question
Operation Plan
answer
designed for a 1-year period, defines how you will conduct your business based on the plan
question
Standing Plan
answer
developed for activities that occur repeatedly over a period of time
question
Policy
answer
standing plan that outlines the general response to a designated problem
question
Procedure
answer
standing plan that outlines the response to a particular problem or circumstance
question
Rule
answer
standing plan that designates specific required action
question
Single-Use Plan
answer
plans developed for activities that are not likely to be repeated in the future
question
Program
answer
encompassing a range of projects or activities
question
Project
answer
less scope and complexity than a program
question
SMART GOAL
answer
Specific Measurable Attainable Results-oriented Target dates
question
Management by Objectives
answer
MBO- 4 step process. 1. managers & employees set objectives 2. managers develop action plans 3. managers & employees periodically review the employee's performance 4. manager makes a performance appraisal and rewards the employee according to results
question
Cascading
answer
objectives down through the organization that is: objectives are structured in a unified hierarchy. becoming more specific at lower levels of the organization
question
Planning/Control Cycle
answer
has two planning steps and two controlling steps 1. make plan 2. carry out plan 3. control direction by comparing results with the plan 4. control the direction by taking corrective action in two ways (correcting deviations or by improving future plans)
