Chapter 7 Managerial Planning and Goal Setting

Operational Plans

specify action steps toward achieving operational goals and to support tactical plans

Strategic Plans

action steps by which the company intends ti attain strategic goals

Crisis Prevention

activities taken to try and prevent crisis from occurring

Crisis Preparation

all the detailed planning to handle crisis when it occurs

Plan

blueprint for goal achievement and specifies the necessary resource allocations, schedule, tasks, and other actions

Strategic Goals

broad statement that describes the organizations future plans

Mission Statement

broadly stated definitions of purpose that distinguishes the organization from others of a similar type

Contingency Plan

company response to be taken in the case of emergencies, setbacks, or unexpected condition

Goals

desired future state that the organization attempts to realize

Planning

determining the organizational goals and defining the means of achieving them

Scenario Building

looking at current trends and discontinuities and visualizing future possibilities

Standing Plan

ongoing plans that provide guidance for tasks or situations that occur repeatedly within the organization

Crisis Planning

plans to cope with unexpected events that are so sudden and devastating that they could destroy an organization

Mission

reason for existence

Stretch Goals

reasonable yet highly ambitious goals that are so clear, compelling, and imaginative that they fire up employees

Operational Goals

results expected from departments, work groups, and individuals

Tactical Plans

results that major strategic plans and accomplish a specific part of the company's strategy

Tactical Goals

results the major division sand departments within the organization intends to achieve

Single - Use Plan

set of goals that are not likely to be repeated in the future

Management by Objectives (MBO)

system whereby managers and employees define goals for every department, project, and person to use them to monitor performance

Strategy Maps

visual representation of the key drivers of the organizations success