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Modern States Management - Module 2 Planning
Terms in this set (18)
a statement of the organization's purpose - what it wants to accomplish in the larger environment
expresses what the organization should become, where it wants to go strategically
identifies long-term directions for the organization
Tactical (operational) plans
designed to help execute major strategic plans and to accomplish a specific part of the company's strategy
plans that cover unique, one-time-only events
Scenario Planning (Contingency Planning)
The generation of multiple forecasts of future conditions followed by an analysis of how to effectively respond to those conditions.
Program Evaluation and Review Technique (PERT)
A method for analyzing the tasks involved in completing a given project, estimating the time needed to complete each task, and identifying the minimum time needed to complete the total project.
in a PERT network, the sequence of tasks that takes the longest time to complete
a simple bar chart that lists project tasks vertically against the project's time frame, listed horizontally
one or more unique aspects of an organization that cause target consumers to patronize that firm rather than competitors
Product Life Cycle
The stages through which goods and services move from the time they are introduced on the market until they are taken off the market.
Boston Consulting Group Matrix
Is a chart that was created by Bruce D. Henderson for the Boston Consulting Group in 1970 to help corporations to analyze their product lines. It classified products as stars, question marks, cash cows or dogs.
Degree of uncertainty of return on an asset; in business, the likelihood of loss or reduced profit.
the process of analyzing data to extract information not offered by the raw data alone
an empirical model in which one statistically relates one set of variables to another
a dislike of uncertainty
a decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue
method for predicting how variables will change the future
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