Chapter 4 - terms

Chapter 4 - terms - Chapter 4 Terms 1 Overview of Planning...

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Chapter 4 – Terms 1. Overview of Planning Fundamentals a. Basic Planning Process a.i. Situational analysis a.ii. Alternative goals and plans a.iii. Goal and plan evaluation a.iv. Goal and plan selection a.v. Implementation a.vi. Monitor and control 2. Levels of Planning a. Strategic Planning b. Tactical and Operational Planning c. Aligning Tactical, Operational, and Strategic Planning 3. Strategic Planning a. Step I. Establishment of Mission, Vision, and Goals b. Step II. Analysis of External Opportunities and Threats c. Step III. Analysis of Internal Strengths and Weaknesses d. Step IV. SWOT Analysis and Strategy Formulation e. Step V. Strategy Implementation f. Step VI. Strategic Control 4. Planning – a. Conscious systematic process of making decisions about goals and activities that will be pursued in the future. 5. Planning Entails: Goals, Activities, and the Future 6. Goals – a. Targets or ends that management desires to reach [effectiveness] 7. Activities – a. Blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals. [efficiency] 8. Importance of Planning – a. Blake & Mouton; planning is the second leading cause of managerial problems. 9. Situational Analysis – a. A process planners use within time and resource constraints to gather interpret and summarize all information relevant to the planning issue under consideration. 10. Alternative Goals and Plans – a. Alternative goals that may be posed in the future/alternative plans that may be used to achieve those goals. b. SMART 11. SMART – a. Specific b. Measurable c. Attainable(but challenging) d. Relevant e. Time-Bound 12. Specific –
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a. Precisley stating particular behaviors/outcomes so employees know what they are working toward 13. Measurable - a. Goal should be quantifiable 14. Attainable(But Challenging) – a. Challenging but realistic goals so as not to be discouraged 15. Relevant – a. Goal should contribute to organization’s goals, mission, and values 16. Time-Bound – a. Goal should be accomplished within a time period 17. Plans – a. Actions or means managers intend to use to achieve organizational goals 18. Single Use Plans – a. Designed to achieve a set of goals that are not likely to be replaced in the future 19. Standing Plans – a. Focus on ongoing activities designed to achieve an enduring set of goals 20. Policies – a. General guide that provides broad parameters within which organization members are expected to operate in pursuit of organizational goals 21. Procedures – a. Prescribed series of related steps to be taken under certain recurring circumstances 22. Rules – a. Statement that spells out specific actions that must or must not be taken in a given situation 23. Contingency Plans – a. What if plans. Implemented when initial plans have not worked well or circumstances have changed. 24. Goal and Plan Evaluation –
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Chapter 4 - terms - Chapter 4 Terms 1 Overview of Planning...

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