Shared Flashcard Set

Details

NCMA Bk1-1
Book 1, Chapter 1
34
Business
Professional
06/24/2008

Additional Business Flashcards

 


 

Cards

Term

 

 

Four Management Function

Definition

 

 

Planning, Organizing, Leading, Controlling

 

Planning is the most fundamental

Term

 

 

Strategic Planning

Definition

 

 

 

Review mission, goals, plans to meet environmental changes or the expectation of important stakeholders such as community, owners, or stockholders.

Term

 

 

Strategic Goals

Definition

 

 

 

commitment to both organizational efficency and effectiveness

Term

 

 

Planning

Definition

 

 

 

The act of determining the organizations goals and the means for acheiving them.

Term

 

 

Plan

Definition

 

 

 

 

Blueprint for goal achievement and specifies teh necessary resource allocations, schedules, tasks, and other actions.

Term

 

 

 

Goal

Definition

 

 

 

 

Desired future state.

Term

 

 

 

Mission

Definition

 

 

 

The organization's reason for exsistence

 

Describes: Organizational values, aspirations, and the reason for being.

Term

 

 

 

Standard of Performance

Definition

 

 

 

Because goals have defined desired outcomes they also serve as performance criteria.

Term

 

 

Purpose of Goals:

 

Rationale for Decisions

Definition

 

 

Through goal setting and planning managers learn what the organization is trying to accomplish

 

The organization can make policies that are in accordance with desired outcomes.

Term

 

 

 

Operational Plans

Definition

 

 

 

Developed at lower levels of the organization to specify action steps towards achieving operational goals and to support tactical plans.

 

A manager's tool for daily planning.

Term

 

 

 

Purpose of goals

 

Source of Motivation and Commitment

Definition

 

 

 

Goals and plans facilitate employees identification with the organizations and help motivate them by reducing uncertainty and clarifying withat they could accomplish.

Term

 

 

 

Means-end chain

Definition

 

 

 

Low level goals lead to accomplishment of high level goals.

Term

 

 

 

Mission Statement

Definition

 

 

Broadly stated definition of basical busines scope and operations that distinguishes the organization from others of a similar type.

Term

 

 

 

Operational Goals

Definition

 

 

 

Specific results expected from departments work groups and individuals.

 

Example: Acheive 90% of deliveries on time.

Term

 

 

 

Operational Plan

Definition

 

 

 

Identify the specific procedures or processes needed at lower levels of the organization, such as individual departments and employees

Term

 

 

 

Purpose of Goals:

 

Legitimacy

Definition

 

 

 

An organization's mission describes what the organization stands for and its reason for exsitence.

 

Strong mission impacts employees enabling them to be committed.

Term

 

 

 

Purpose of goals:

 

Guide to Actions

Definition

 

 

 

Goals and plans provide a sense of direction.

Term

 

 

 

Goals should be defined time period and be linked to rewards.

Definition

 

 

Specify time period

Term

 

 

Goals should be challenging but realistic

Definition

 

 

Goals should be challenging but not unreasonably difficult.

Term

 

 

Strech Goals

Definition

 

 

Extremely ambitious but realistic goals that challenge employees to meet high standards.

Term

 

 

Goals should cover key results areas

Definition

 

 

 

Identify a few key result areas (4-5) for an organizational department or job

Term

 

 

Goals should be specific and measureable

Definition

 

 

Example: Increase profits by 20%

Term

 

 

Strategic Plans

Definition

 

 

 

 

Action steps by which the company intends to attain goals.

Term

 

 

 

Long term Planning

Definition

 

 

Define organizational action steps for 2-5 years in the future.

Term

 

 

Management by Objectives

Definition

 

 

Method whereby managers and employees define goals for every department, project, and person. Must use them to monitor subsequent performance.

 

1. Set goals

2. Develop action plans

3. Review progress

4. Appraise overall performance.

Term

 

 

Decentralized Planning

Definition

 

 

Planning experts work with managers in major divisions or departments to develop their own goals and plans.

 

This enables managers to come up with their own creative solutions to problems and therefoer they are more committed to the outcome.

Term

 

 

Planning Task Force

Definition

 

 

 

Temporary group of managers and employees who take responsibility for developing a strategic plan.

Term

 

 

 

Strategic Goals

Definition

 

 

 

Broad statements describing where the organization wnats to be in the future.

Term

 

 

 

Tactical Goals

Definition

 

 

 

Results that major divisions/departments within the organization intend to achieve.

 

Apply to middle management and major subunits. These are the goals middle management must acheive to fufill its part in the strategic plan set up for top management.

Term

 

 

 

Contingency Plan

Definition

 

 

 

Define company's response to be taken in the case of an emergency, set backs, or unexpected conditions.

Term

 

 

 

Central Planning Departments

 

Definition

 

 

 

Popular in the 1970s, planning specialist who reported directly to the CEO/ President.

Term

 

 

 

Single-use Plans

Definition

 

 

 

Developed to achieve a set of goals that are not likely to be repeated in the future.

Term

 

 

 

Standing Plans

Definition

 

 

 

 

On-going plans that are not used to provide guidance for tasks performed repeatedly within the organization.

 

Example: Policies on Email, Asbsences, and Hiring

Supporting users have an ad free experience!