Ch. 7 managerial planning and goal setting

intelligence team

a cross-functional group of people who work together to gain a deep understanding of a specific competitive issue and offer insight and recommendation for planning.

strategy map

a visual representation of the key drivers of an organization's success, showing the cause and effect relationship among goals and plans

management by means

approach that focuses people on the methods and processes used to attain results, rather than on the results themselves

strategic goals

broad statements of where the organization wants to be in the future and pertain to the organization as a whole rather than to specific divisions or departments

tactical plans

designed to help execute major strategic plans and to accomplish a specific part of the company's strategy

contingency planning

identifies important factors in the environment and defines a range of alternative responses to be taken in the case of emergencies, setbacks, or unexpected conditions

plan

is a blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals.

mission statement

is a broadly stated definition of the organization's basic business scope and operations that distinguishes it from similar types of organization

Goal

is a desired future state that the organization wans to realize

management by objective

is a method whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance.

planning

is the act of determining goals and defining the means of achieving them

scenario building

managers look at trends and discontinuities and imagine possible alternative futures to build a framework within which unexpected future events can be managed

single use plans

plans that are developed to achieve a set of goals that are unlikely to be repeated in the future

standing plans

plans that are developed to provide guidance for tasks that occur repeatedly in the organization

stretch goals

reasonable yet highly ambitious and compelling goals that energize people and inspire excellence.

operational goals

specific, measurable results that are expected from departments, work groups, and individuals

operational plans

specify the action toward achieving operational goals and support tactical activities

strategic plans

the action steps by which an organization intends to attain strategic goals.

mission

the organization's purpose or reason for existence

tactical goals

the outcomes that major divisions and departments must achieve for the organization to reach its overall goals

decentralized planning

top executives or planning experts work with managers in major divisions or departments to develop their own goals and plans