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Strategic Planning The process of developing and maintaining a strategic fit between the organization's goals and capabilities and itS changing marketing oPportunities Operational Planning The PrOcess of setting work standards and schedules necessary to implement the company's tactical objectives Mission Statement A short, specific written stateMent of the reaSon a business exists and what it wants to achieve Goal The state of affairs that a plan is intended to aghieve and that terminates behavior intended to achieve it Budget a sum of money allocateb for a particular purpose Standards a basiS of comparison for measuring the extent to which various kinds of organizational performance are satisfactory or unsatisfactory Policies Guidelines used in making consistent decisions Authority the power or right to give orders or make decisioauns Procedure a process or series of acts especially of a practical or mechanical nature involved in a particular form of work Organization Chart a chArt shOwing the lines of responsibility between departments of a large organization Responsibility the social force that binds you to your obligations and the courses of action demanded by that force Accountability responsibility to someone or for some acctivity Empowerment the act of conferring legality or sanction or formal warrant Line Authority a form of authority in which individuals in management positions have the formal power to direct and control immediate subordinates Centralized Organization organizations that restriCt decision making to fewer individuals, usually at the tOp of the organization. Decentralized Organization organization in which a great Deal of decision-making authority is delegated to levels of management at points below the top. Departamentalization basis for grouping positions into Departments and Departments into the total organization Top Level Managers Senior executives responsible for the overall management and effectiveness of the organization Middle Managers Managers who carry out the decisions of top Management and oversee specific departments. Operational Managers Managers who are responsible for the daily OPerations of a business, such as supervisors and office managers. Planning the act or process of drawing up plans or layouts for some project or enterprise Organizing management process of determining how best to arrange an organization's resources and activities into a coherent structure Implementing To carry out or accomplish Controlling able to control or determine policy