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Planning choosing a goal and developing a strategy to acheive that goal
SMART goals goals that are specific, measurable, attaniable, realistic, and timely
Goal commitment the determination to achieve a goal
Action plan the specific steps, people, and resources needed to accomplish a goal
Proximal goals short-term goals or subgoals
Distal goals long-term or primary goals
Options-based planning maintaining flexibility by making small, simultaneous investments in many alternative plans
Slack resources a cushion of extra resources that can be used with options-based planning to adapt to unanticipated change, problems, or opportunities.
Strategic plans overall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years
Purpose statement a statement of a company's purpose or reason to exist; often referred to as an organizational mission or vision
Strategic objective a statement of a company's overall goal that unifies company-wide effort toward its vision, stretches and challenges the organization, and possesses a finish line and a time frame
Tactical plans 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
MBO a four-step process in which managers and employees discuss and select goals, develop tactical plans, and meet regulary to review progress toward goal accomplishment
Operational plans day-to-day plans, developed and implemented by lower-level managers, for producing or delivering the organization's products and services over a 30-day to six-month period
Single-use plans plans that cover unique, one-time-only events
Standing plans plans used repeatedly to handle frequently recurring events
Policy a standing plan that indicates the general course of action that should be taken in response to a particular event or situation
Procedure a standing plan that indicates the specific steps that should be taken in response to a particular event
Rules and regulations standing plans that describe how a particular action shluld be perfomred or what must happne or not happen in response to a particular event
Budgeting quantitative planning through which managers decide how to allocate avilable money to best acoomplish company goals
Deicision making the process of chooisng a solution from available alternative
Rational deicision making a systematica process of defining problems, evaluating alternatives, and choosing optimal solutions
Problem a gap between a desired state and an existing state
Decision criteria the standards used to guide judgements and decisions
Absolute comparisons a process in which each criterion is compared to a standard or ranked on its own merits
Relative comparison a process in which each criterion is compared directly to every other
Maximizing choosing the best alternative
Satisficing choosing a "good enough" alternative
Groupthink a barrier to good decision making caused by pressure within a group for members to agree with each other
C-type conflict disagreement that focuses on problem and issue-related differences of opinion
A-type conflict(affective conflict_ disagreemtn that focuses on individual or personal issues
Devil's advocacy a decision-making method in which an individual or a subgroup is assigned the role of critic
Nominal group techinique a decision-making method that begins and ends by having group members quietly wrtie down and evaluate ideas to be shared with the group
Delphi techinique 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
Brainstorming a decision-making method in which group members build on each others' ideas to generate as many alternative solutions as possible
Electronic brainstorming a decision-making method in which group members use computers to build on each others' ideas and generate many alternative solutions
Production blocking a disadvantage of face-to-face brainstorming in wchih a group member must wait to share an idea because another member is presenting an idea
Evaluation apprehension fear of what others will think of your ideas
Resources the assets, capabilites, processes, information, and knowledge that an organization uses to improve its effectiveness and efficiency, create and sustain competitive advantage, and fulfill a need or solve a problem
C.A. providing greater value for customers than competitors can
Substainable C.A. a c.a. that other companies that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate
Valuable resources resources that allow companies to improve efficiency and effectiveness
Rare resources resources that are not controlled or possessed by many competing firms
Imperfectly imitable resources resources that are impossible or extremely costly or difficult for other firms to duplicate
Nonsubsitutable resources resources that produce value or competitive advantage and have no equivalent substitues or replacements
Competitive inertia a reluctance to change strategies or competitive practices that have been successful in the past
Strategic dissonance a discrepancy between a company's intended strategy and the strategic actions managers take when imp
Created by: yurpark
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