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Management: An Introduction
Semester 1 - Chapter 7
19
Management
Undergraduate 1
10/22/2011

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Term
goal
Definition
a desired future state that the organization attempts to realize
Term
plan
Definition
a blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals
Term
planning
Definition
the act of determining the organization’s goals and the means for achieving them
Term
mission
Definition
the organization’s reason for existence
Term
mission statement
Definition
a broadly stated definition of the organization’s basic business scope and operations that distinguishes it from similar types of organizations
Term
strategic goals
Definition
broad statements of where the organization wants to be in the future; pertain to the organization as a whole rather than to specific divisions or departments
Term
tactical goals
Definition
goals that define the outcomes that major divisions and departments must achieve for the organization to reach its overall goals
Term
organizational goals
Definition
specific, measurable results expected from departments, work groups, and individuals within the organization
Term
operational plans
Definition
plans developed at the organization’s lower levels that specify action steps toward achieving operations goals and that support tactical planning activities
Term
strategy map
Definition
a visual representation of the key drivers of an organization’s success, showing the cause-and-effect relationships among goals and plans
Term
management by objectives (MBO)
Definition
a method of management whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance
Term
single-use plans
Definition
plans that are developed to achieve a set of goals that are unlikely to be repeated in the future
Term
standing plans
Definition
ongoing plans that are used to provide guidance for tasks performed repeatedly within the organization
Term
contingency plans
Definition
plans that define the company responses to specific situations, such as emergencies, setbacks, or unexpected conditions
Term
scenario building
Definition
looking at trends and discontinuities and imagining possible alternative futures to build a framework within which unexpected future events can be managed
Term
central planning department
Definition
a group of planning specialists who develop plans for the organization as a whole and its major division and departments and typically report directly to the president or CEO
Term
decentralized planning
Definition
managers work with planning experts to develop their own goals and plans
Term
stretch goal
Definition
a reasonable yet highly ambitious, compelling goal that energizes people and inspires excellence
Term
intelligence team
Definition
a cross-functional group of managers and employees who work together to gain a deep understanding of a specific competitive issue and offer insight and recommendations for planning
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