Term
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Definition
The formal process of choosing an organizational mission and overall goals for both the short run and long run; devising divisional, departmental and even individual goals based on the organizational goals; formulating strategies and tactics to achieve those goals; and allocating resources to achieve the various goals, strategies and tactics.
The process a manager uses to establish objectives and select suitable courses of action BEFORE taking action. |
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Term
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Definition
1) Identifying future opportunities
2) Identifying and avoiding future problems
3) Developing courses of action
4) Understanding the risks and uncertainties associated with various options |
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Term
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Definition
| Broad general courses of action for the entire organization designed to accomplish strategic goals. Usually long term in duration. |
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Term
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Definition
| Specific courses of action designed to accomplish specific strategic goals. May be short to intermediate term in duration. |
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