Midterm 2 mgt
Terms
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- mission
- a statement of an organizations fundamental purpose
- strategic goal
- a goal set and for top management of the organization
- tactical goal
- a goal set by and for middle managers of the organization
- operational goal
- a goal set by and for lower level managers of the organization
- optimizing
- balancing and reconciling possible conflicts among goals.
- strategic plan
- a general plan outlining decisions of resources allocation, priorities, and action steps necessary to rach strategic goals.
- rules and regulations
- describe exactly how specific activities are to be carried out.
- operational plan
- focuses on carrying out tactical plans to achieve operational goals.
- long-range plan
- a plan that convers many years, perhaps even decades; common long-range plans are for five years or more.
- intermediate plan
- a plan that generally convers from one to five years
- short-range plan
- a plan that generally convers a span of one year or less
- action plan
- a plan used to operationalize any other kind of plan.
- reaction plan
- a plan developed to react to an unforeseen circumstance.
- contingency planning
- the determination of alternative courses of action to be taken if an intended plan is unexpectedly disrupted or rendered inappropriate.
- crisis management
- the set of procedures the organization uses in the event of a disaster or other unexpected calamity.
- tactical plan
- a plan aimed at achieving tactical goals and developed to implement specific parts of a strategic plan.
- single use plan
- developed to carry out a course of action that is not likely to be repeated in the future.
- management by objectives
- a formalgoal-setting process involving collaboration between managers and subordinates; the extent to which goals are accomplished is a major factor in evaluating and rewarding subordinates performance.
- program
- a single use plan for a large set of activities
- project
- a single use plan of less scope and complexity than a program.
- standing plan
- developed for activities that recur regularly over a period of time.
- policy
- a standing plan that specifies the organization general response to a designated problem or situation
- standard operating procedure
- a standing plan that outlines the steps to be followed in particular circumstances.