| Term | Definition |
|---|
| goal | a desired future state that the organization attempts to realize |
| plan | a blueprint specifying the resource allocation, schedules, and other actions necessary for attaining goals |
| strategic goals | where the org wants to be in the future/pertain to the org as a whole/ official goals |
| strategic plan | action steps/blueprint that defines the org activities and resource allocations |
| tactical goals | goals that define the outcomes that major divisions and dept must achieve |
| tactical plans | plans designed to help execute major strategic plans |
| operational goals | specific, measureable results expected from depts, work groups, and indiv-day to day |
| operational plans | org lower levels the specify action steps toward achieving opr goals |
| strategic mgt | set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit btw the org and its envirn so as to achieve org goals |
| competitive | got a shot to win, skills talens, what it takes to win |
| competitive advantage | something you do better than other bus industry |
| core competitency | someting the org does well in comparison to its competitors-what walmart does |
| mission statement | basic purpose of the org for external audiences/ focus |
| planning | both plan and goal, plan to achieve the goal |
| first step in goal | specific and measurable |
| second step in goal | cover key result areas |
| third step in goal | challenging but realistic |
| fourth step in goal | defined time period |
| fifth step in goal | linked to rewards |
| MBO | managers and employees define goals for every dept and use them to monitor subsequent performance |
| Four steps of MBO | set goals, develop action plans, review progress, appriase overall performance |
| single-use plans | developed to achieve a set of goals that are not likely to be repeated in the future |
| standing plans | ongoing plans that provide guidance for tasks performed repeatedly within the org |
| single use plans | program and project |
| standing plans | policy, rule, procedure |
| contingency plans | company responses to be taken in case of emergencies, unexpected conditions |
| scenario building | looking a trends and dicontinuities and imagining possible alternative futures fo buildframe work for unexcpected future events to be managed |
| crisis management plan | detialed written plan that specifies steps to be taken and by whom if a crisis arises |
| strategy | plan of action that describes resource allocation and activitie for dealing with the envirn, achieve a comp adv, and attain the org goals |
| synergy | a joint effect that is greater than the sum of the parts acting alone |
| value | combination of benefits received and the cost paid |
Combine with other sets
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