Chapter 2: The Core Values of an Organization
When was the concept of core values first coined
1984
SMART model Measurable
All business objectives must have a method for assessing performance and determining when the goal is achieved
Which book did core values come from?
Built to Last
A _________________ should meet the purpose of the organization established in the strategic planning process.
Business Plan
Once identified, the SMART model should be compiled in a strategic document called a _____________________
Business Plan
Use of technology in operations, manufacturing processes, the organization's culture, product characteristics, management of customer relationships, and knowledge management are examples of _____________________
Core Competencies
What are an organization's strengths that separate it apart from the rest of its core values (mission, vision, and values)
Core Competencies
_________________ help organizations focus on expanding their revenue through various methods.
Core Competencies
What are teamwork, excellence, integrity, mutual respect, and customer service an example of?
Core Values
What are the guiding principles that represent an organization's beliefs, priorities, and driving forces?
Core Values
____________________ communicate the standard to which business will be conducted in an organization. The executive team communicates these within the organization, setting the foundation based on which the employees make decisions, interact in a professional capacity and plan strategies.
Core Values
What defines how the organization will achieve all that is stated in the strategic planning process over a long period of time?
Corporate Goals
SMART model Specific
Goals should be concise and detailed enough to help department managers to develop strategies to accomplish them
Which two individual's first coined in the concept of core values?
Jim Collins and Jerry Porras
A ________________ describes the company's motivation and purpose. It states the contribution an organization aims to make in society and what differentiates it from competitors within the same industry.
Mission Statement
The ________________ directs the message toward the organization's workforce, informing them about the company's goals and direction. Strategic plans and objectives are based on this.
Mission Statement
What does the SMART model stand for?
Specific Measurable Action Realistic Time-based
SMART model Realistic
The business objective should challenge the abilities and capacity of the workforce but not be unachievable
SMART model Action
The business objective should define the appropriate course of action needed to be taken in order to achieve the goal
SMART model Time-based
The objective must have a deadline for completion
What is the SMART model used for?
To develop effective corporate goals
An organization's ______________ informs shareholders, partners and customers about the organization's driving force and the best practices to accomplish it. It should communicate what the organization wants to become and its long-term goals.
Vision Statement
What make up the foundation of a strategic plan process in an organization?
mission, vision, and values