Chapter 5 - Chapter 5 Planning Planning = choosing a goal...

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Chapter 5 Planning - Planning = choosing a goal and developing a strategy to achieve that goal. - Benefits of planning are intensified effort, persistence, direction, and creation of task strategies - - - First step in planning is to set goals - S.M.A.R.T. goals -Goals that are specific, measurable, attainable, realistic, and timely. - how to make a plan that works - - goal commitment -The determination to achieve a goal. - action plan -The specific steps, people, and resources needed to accomplish a goal. - proximal goals -Short-term goals or subgoals. - distal goals -Long-term or primary goals. - options-based planning -Maintaining planning flexibility by making small, simultaneous investments in many alternative plans. o invest more in promising options o maintains slack resources - slack resources -A cushion of extra resources that can be used with options-based planning to adapt to unanticipated changes, problems, or opportunities. - learning-based planning -Learning better ways of achieving goals by continually testing, changing, and improving plans and strategies.
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- strategic plans -Overall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years. - vision -An inspirational statement of an organization’s enduring purpose. - - mission -A statement of a company’s overall goal that unifies company-wide efforts toward its vision, stretches and challenges the organization, and possesses a finish line and a time frame. - tactical plans -Plans created and implemented by middle managers that specify how the company will use resources, budgets, and people over the next six months to two years to accomplish specific goals within its mission. - management by objectives (MBO) -A four-step process in which managers and employees discuss and select goals, develop tactical plans, and meet regularly to review progress toward goal accomplishment. -
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Chapter 5 - Chapter 5 Planning Planning = choosing a goal...

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