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