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Management 3000 Chapter 5

setting goals and deciding how to achieve them
Planning and Strategic Management
1. Establish the organizations mission and vision
2. Formulate the grand strategy
3. Formulate the strategic plans, then the tactical and operational plans
4. Implement the strategic plans
5. Control the strategy
are expert at producing and selling narrowly defined products or services
focus on developing new products or services and in seeking out new markets, rather than waiting for things to happen
let other organizations take the risks of product development and marketing and then imitate (or perhaps slightly improve on)what seems to work best
make adjustments only when finally forced to by environmental pressures
Adaptive Cycle
entrepreneurial, engineering, administrative, organizational
Mission Statement
expresses the purpose of the organization
long-term goal describing what an organization wants to become, clear sense of the future and the actions needed to get there
Vision Statement
expresses what the organization should become and where it wants to go strategically
Strategic Planning
determine what the organizations long-term goals should be for the next 1-5 years with the resources they expect to have available
Tactical Planning
determine what contributions their departments or similar work units can make with their given resources during the next 6-24 months
Operational Planning
determine how to accomplish specific tasks with available resources within the next 1-52 weeks
Means-end Chain
in a chaine of management the accomplishment of low-level goals is the means leading to the accomplishment of high-level goals or ends
Strategic Goals
set by and for TOP management and focus on objectives for the organization as a whole
Tactical goals
are set by and for MIDDLE managers and focus on the actions needed to achieve strategic goals
Operational Goals
set by and for FIRST-LINE managers and are concerned with short-term matters associated with realizing tactical goals
Action Plan
defines the course of action needed to achieve the stated goal
Operation Plan
designed for a 1-year period, defines how you will conduct your business based on the plan
Standing Plan
developed for activities that occur repeatedly over a period of time
standing plan that outlines the general response to a designated problem
standing plan that outlines the response to a particular problem or circumstance
standing plan that designates specific required action
Single-Use Plan
plans developed for activities that are not likely to be repeated in the future
encompassing a range of projects or activities
less scope and complexity than a program
Target dates
Management by Objectives
MBO- 4 step process.
1. managers & employees set objectives
2. managers develop action plans
3. managers & employees periodically review the employee’s performance
4. manager makes a performance appraisal and rewards the employee according to results
objectives down through the organization that is: objectives are structured in a unified hierarchy. becoming more specific at lower levels of the organization
Planning/Control Cycle
has two planning steps and two controlling steps
1. make plan
2. carry out plan
3. control direction by comparing results with the plan
4. control the direction by taking corrective action in two ways (correcting deviations or by improving future plans)

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