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Harrison College MGT2000
Vocabulary - Chapter 5
39
Business
Undergraduate 1
05/05/2016

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Term
Planning
Definition
choosing a goal and developing a strategy to achieve that goal
Term
S.M.A.R.T. goals
Definition
goals that are specific, measurable, attainable, realistic, and timely
Term
Goal commitment
Definition
the determination to achieve a goal
Term
Action plan
Definition
a plan that lists the specific steps, people, resources, and time period needed to attain that goal
Term
Proximal goals
Definition
short-term goals or subgoals
Term
Distal goals
Definition
long-term goals or primary goals
Term
Options-based planning
Definition
maintaining planning flexibility by making small, simultaneous investments in many alternative plans
Term
Slack resources
Definition
a cushion of extra resources that can be used with options-based planning to adapt to unanticipated changes, problems, or opportunities
Term
Strategic plans
Definition
overall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years
Term
Purpose statement
Definition
a statement of a company's purpose or reason for existing
Term
Strategic objective
Definition
a more specific goal that unifies company wide efforts, stretches, and challenges the organization, and possesses a finish line and a time frame
Term
Tactical plans
Definition
plans created and implemented by middle managers that specify how the company will use resources, budgets, and people over the next six months to two years to accomplish specific goals within its mission
Term
Management by objective
Definition
a four-step process in which managers and employees discuss and select goals, develop tactical plans, and meet regularly to review progress toward goal accomplishment
Term
Operational plans
Definition
day-to-day plans, developed and implemented by lower-level managers, for producing or delivering the organization's products and services over a thirty-day to six-month period
Term
Single-use plans
Definition
plans that cover unique, one-time-only events
Term
Standing plans
Definition
plans used repeatedly to handle frequently recurring events
Term
Policies
Definition
standing plans that indicate the general course of action that should be taken to a particular event or situation
Term
Procedures
Definition
standing plans that indicate specific steps that should be taken in response to a particular event
Term
Rules and regulations
Definition
standing plans that describe how a particular action should be performed or what must happen or not happen in response to a particular event
Term
Budgeting
Definition
quantitative planning through which managers decided how to allocate available money to best accomplish company goals
Term
Decision making
Definition
the process of choosing a solution from available alternatives
Term
Rational decision making
Definition
a systematic process of defining problems, evaluating alternatives, and choosing optimal solutions
Term
Problem
Definition
a gap between a desired state and an existing state
Term
Decision criteria
Definition
the standards used to guide judgments and decisions
Term
Absolute comparisons
Definition
a process in which each decision criterion is compared to a standard or ranked on its own merits
Term
Relative comparisons
Definition
a process in which each decision criterion is compared directly with every other criterion
Term
Maximize
Definition
choosing the best alternative
Term
Satisficing
Definition
choosing a "good enough" alternative
Term
Groupthink
Definition
a barrier to good decision making caused by pressure within the group for members to agree with one another
Term
C-type conflict (cognitive conflict)
Definition
disagreement that focuses on problem- and issue-related differences of opinion
Term
A-type conflict (affective conflict)
Definition
disagreement that focuses on individuals or personal issues
Term
Devil's advocacy
Definition
a decision-making method in which an individual or a subgroup is assigned the role of critic
Term
Dialectical inquiry
Definition
a decision-making method in which decision makers state the assumptions of a proposed solution (a thesis) and generation a solution that is the opposite (antithesis) of that solution
Term
Nominal group techniques
Definition
a decision-making method that begins and ends by having group members quietly write down and evaluate ideas to be shared with the group
Term
Delphi technique
Definition
a decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue
Term
Brainstorming
Definition
a decision-making method in which group members build on each others' ideas to generate as many alternative solutions as possible
Term
Electronic brainstorming
Definition
a decision-making method in which group members use computers to build on each others' ideas and generate as many alternative solutions as possible
Term
Production blocking
Definition
a disadvantage of face-to-face brainstorming in which a group member must wait to share an idea because another member is presenting an idea
Term
Evaluation apprehension
Definition
fear of what others will think of your ideas
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