Term
|
Definition
| the process of setting objectives and determining how to accomplish them. |
|
|
Term
|
Definition
| specific results that one wishes to achieve |
|
|
Term
|
Definition
1. Planning
2. Organizing
3. Leading
4. Controlling |
|
|
Term
|
Definition
| Performance targets that we have to work extra hard and stretch to reach. |
|
|
Term
|
Definition
| a statement of intended means for accomplishing objectives. |
|
|
Term
|
Definition
1. Action Oriented
2. Priority Oriented
3. Advantage Oriented
4. Change Oriented |
|
|
Term
|
Definition
| Keeping a results-driven sense of direction |
|
|
Term
|
Definition
| Making sure the most important things get first attention. |
|
|
Term
|
Definition
| Ensuring that all resources are used to the best advantage. |
|
|
Term
|
Definition
| anticipating problems and opportunities so they can be best dealt with |
|
|
Term
|
Definition
| lower level objectives to help achieve higher level ones. |
|
|
Term
|
Definition
| identifies long-term directions for the organization. |
|
|
Term
| Steps in the Planning Process and its action implications |
|
Definition
Step 1: Define Objectives.
Step 2: Determine Current Status vis-a-vis objectives.
Step 3: Develop premises regarding future conditions
Step 4: Make a Plan
Step 5: Implement the plan and evaluation results. |
|
|
Term
|
Definition
| usually cover only a year or less. |
|
|
Term
|
Definition
| usually cover three years or more. |
|
|
Term
|
Definition
| Clarifies the purpose of the organization and expresses what it hopes to be in the future. |
|
|
Term
| Tactical Plan (or Operational Plan) |
|
Definition
| a plan that sets out ways to implement the strategic plan. |
|
|
Term
|
Definition
| a plan that identifies how different parts of an enterprise will contribute to accomplishing strategic plans. |
|
|
Term
| Such functional plans include the following: |
|
Definition
1. Production Plans
2. Financial Plans
3. Facilities Plans
4. Marketing Plans
5. Human Resource Plans |
|
|
Term
|
Definition
| deal with the methods and technology needed by people in their work. |
|
|
Term
|
Definition
| deal with money required to support various operations |
|
|
Term
|
Definition
| deal with facilities and work layouts |
|
|
Term
|
Definition
| deal with the requirements of selling and distributing goods. |
|
|
Term
|
Definition
| deal with the recruitment, selection, and placement of people into various jobs. |
|
|
Term
|
Definition
| a standing plan that communicates broad guidelines for decision and action. |
|
|
Term
|
Definition
| Rules that precisely describes actions to take in specific situations. |
|
|
Term
|
Definition
| A plan that commits resources to projects or activities |
|
|
Term
|
Definition
1. Financial Budget
2. Operating Budget
3. Non-Monetary Budget
4. Fixed Budget
5. Flexible Budget |
|
|
Term
|
Definition
| project cash flows and expenditures. |
|
|
Term
|
Definition
| Plot anticipated sales or revenues against expenses. |
|
|
Term
|
Definition
| allocate resources such as labor, equipment, and space. |
|
|
Term
|
Definition
| allocates a fixed amount of resources for a specific purpose, such as $50,000 for equipment purchases in a given year. |
|
|
Term
|
Definition
| allows resources to vary in proportion with various levels of activity, such as monies to hire temporary workers when work loads exceed a certain level. |
|
|
Term
|
Definition
| allocates resources as if each budget was brand new. |
|
|
Term
|
Definition
| attempts to predict the future. |
|
|
Term
|
Definition
| uses expert opinions to predict the future |
|
|
Term
|
Definition
| uses mathematical models and statistical analysis of historical data and surveys. |
|
|
Term
|
Definition
| identifies alternative courses of action to take when things go wrong. |
|
|
Term
|
Definition
| identifies alternative future scenarios and makes plans to deal with each. |
|
|
Term
|
Definition
| using external comparisons to gain insights to planning |
|
|
Term
|
Definition
| methods that lead to superior performance. |
|
|
Term
|
Definition
| includes the persons who will be affected by plans and/or who will be asked to implement them. |
|
|
Term
|
Definition
1. Specific - clear targets to be accomplished
2. Timely - linked to specific due dates
3. Measurable - described so results can be measured
4. Challenging - Include a stretch factor that moves towards real gains
5. Attainable - although challenging, realistic and possible to achieve. |
|
|
