aplia ch 7

Single-use plan

One example of this type of plan is the 2011 budget for California.

stretch goals

These goals push the limits of performance. They are achievable only with innovation and imagination.

mission statement

This answers the question, "Why does this organization exist?" and tells people what the company is, what it does, and what it stands for.

management by objectives (mbo)

This process has four components: setting goals, developing action plans, reviewing progress, and appraising overall performance.

Decentralized planning

This refers to planning that is pushed down in the organization. Instead of senior management doing all of the planning, lower-level managers and employees take responsibility for their own planning.

plan

This specifies the way in which an outcome will be achieved and can include the actions to be taken, the resources to be used, and the time frame for accomplishment.

strategy map

Using four different perspectives—financial, customer, internal process, and learning and growth—shows how planned organizational outcomes are related to and support each other.

scenario building

When doing this type of planning, managers invent different circumstances and environments in order to predict how the organization will respond to unexpected events.