Chapter 7 Outline

Chapter 7 Outline - Chapter 7: Managerial Planning and Goal...

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Chapter 7: Managerial Planning and Goal Setting I. Overview of Goals and Plans A goal is a desired future state that the organization attempts to realize. Goals are important because organizations exist for a purpose and goals define and state that purpose. A plan is a blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals. Planning is the act of determining the organization’s goals and the means for achieving them. It is the most fundamental and controversial management function. Goals specify future ends; plans specify today’s means. See exhibit 7.1 on page 210. II. Purposes of Goals and Plans See pages 212 to 213. III. Goals in Organizations o Organizational Mission A mission is the organization’s reason for existence; it describes the organization’s values, aspirations, and reason for being. A mission statement is a broadly stated definition of the organization’s basic business scope and operations that distinguishes it from similar types of organizations.
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Chapter 7 Outline - Chapter 7: Managerial Planning and Goal...

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