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Strategic Planning

Determining how to pursue long-term goals with available resources

Intermediate Planning

Determining what contributions subunits can make with allocated resources

Operational Planning

Determining how to accomplish specific tasks with available resources

Planning Horizon

Time that elapses between planning & execution


Commitment to achieve a measurable result within a specified period. Goals & objectives should be real & measurable


Objectives provide managers with these

Measuring Sticks

Concrete objectives that enable managers to weigh performance objectively on the basis of accomplishment, rather than subjectively on the basis of personality or prejudice


the process of getting an employee to agree to pursue a given objective gives that individual a personal stake in the success of the enterprise


Good objectives represent a challenge; they have a motivational aspect. People usually feel good about themselves & what they do when they successfully achieve a challenging objective

Busyness Trap

Managers should not confuse being busy with being effective & efficient. Results are what really count.

Flow Charts

Used by computer programmers for identifying task components & by total quality management teams for work simplification

Gantt Charts

Convenient scheduling tool for managers that uses a graphical scheduling technique


Program evaluation & review technique. It is a graphical sequencing & scheduling tool for complex projects

Cost Leadership Strategy

Managers have a concern for keeping costs & prices lower than those of competitors

Differentiation Strategy

A company's product or service must be considered unique by most of the customers in its industry in order to succeed

Cost Focus Strategy

Organizations attempt to gain a competitive edge in a narrow (or regional) market by exerting strict cost control

Focused Differentiation Strategy

Involves achieving a competitive edge by delivering a superior product/service to a limited audience

Situational Analysis

Finding the organization's niche by performing a SWOT analysis. An organization's key capabilities & appropriate niche in the marketplace become apparent when the organization's strengths & weaknesses are cross-referenced with environmental opportunities & threats

Multiple Criteria

A decision must satisfy a number of often-conflicting ________ representing the interests of different groups, so decision makers must balance the needs of all stakeholders

Risk & Uncertainty

Along with every decision alternative comes the chance that it will fail in some way. Poor choices can prove costly, yet the right decision can open up whole new worlds of opportunity.

Interdisciplinary Input

Decision complexity is increased when technical specialists are consulted before making a decision

Pooled Decision-Making

Rarely is a single manager totally responsible for the entire decision process. After this input, complex decisions wind their way through the organization, with individuals & groups interpreting, modifying, & sometimes resisting.

Unintended Consequences

Results of purposeful actions are often difficult to predict. Hurried &/or narrowly focused decision makers typically give little or no consideration to the full range of likely consequences of their decisions.

Condition of Risk

Decision made on basis of incomplete but reliable information. Managers can use it to calculate the probability that a given event will occur & then to select a decision alternative with favorable odds.

Framing Error

How information is presented influences one's interpretation of it

Escalation of Commitment

People get locked into losing courses of action to avoid the embarrassment of quitting or admitting error


Can expose managers to unreasonable risks. Researchers have found a positive relationship between this & task difficulty.

Programmed Decisions

Repetitive & routine decisions

Nonprogrammed Decisions

Decisions made in complex & nonroutine situations

Coordination of Effort

Individuals who join together & coordinate their mental/physical efforts can accomplish great things

Common Goal or Purpose

Gives the organization focus & its members a rallying point

Division of Labor

By dividing complex tasks into specialized jobs, an organization can use its human resources efficiently

Hierarchy of Authority

If anything is to be accomplished through formal collective effort, someone should be given the authority to see that the intended goals are carried out effectively & efficiently

Human Resource Management

Involves the acquisition, evaluation, retention, & development of human resources

Equal Employment Opportunity

Law provides a broad umbrella of employment protection for certain categories of disadvantaged individuals, making it virtually impossible for hiring organizations to discriminate of the basis of race, color, sex, religion, national origin, disabilities, or military service

Affirmative Action Program

Making up for past discrimination by actively seeking & employing minorities

Managing Diversity

Movement promises to raise the discussion of equal employment opportunity & affirmative action to a higher plane

Structured Interview

Set of job-related questions with standardized answers

Performance Appraisal

Evaluating job performance as a basis for personnel decisions


Interpersonal transfer of information & understanding

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