Managerial Planning & Goal Setting

Managerial Planning & Goal Setting

1. Operational Goals

   • A specific, measurable result that is expected from departments, work groups, & individuals

2. Contingency Plans

   • Identifies important factors in the environment and defines a range of alternative responses to be taken in the case of emergencies, setbacks, or unexpected conditions.

3. decentralized planning

   • An approach where top executives or planning experts work with managers in major divisions or departments to develop their own goals and plans.

4. mission statement

   • A broadly stated definition of the organization’s basic business scope and operations that distinguishes it from similar types of organizations.

5. Management by means (MBM)

   • An approach that focuses people on the methods and processes used to attain results, rather than on the results themselves.

6. Scenario Building

   • An approach where managers look at trends and discontinuities and imagine possible alternative futures to build a framework within which unexpected future events can be managed.

7. Standing Plans

   • An ongoing plan used to provide guidance for tasks that occur repeatedly in the organization.

8. Goal

   • A desired future state that the organization wants to realize.

9. Strategic Plans

   • Action steps by which an organization intends to attain strategic goals.

10. Operational Plans

    • Specifies the action steps toward achieving operational goals and supports tactical activities.

11. Strategic Goals

    • A broad statement of where an organization wants to be in the future. Pertains to the organization as a whole rather than to specific divisions or departments.

12. Mission

    • An organization’s purpose or reason for existence.

13. Plan

    • A blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals.

14. Tactical Plans

    • Designed to help execute major strategic plans and to accomplish a specific part of a company’s strategy.

15. Planning

    • The management function concerned with defining goals for future performance and how to attain them.

16. Strategy Map

    • A visual representation of the key drivers of an organization’s success, showing the cause-and-effect relationship among goals and plans.

17. Stretch Goals

    • A reasonable yet highly ambitious and compelling goal that energizes people and inspires excellence.

18. Tactical Goals

    • The outcome that major divisions and departments must achieve for an organization to reach its overall goals.

19. Single-Use Plans

    • A plan that is developed to achieve a set of goals that is unlikely to be repeated in the future.

20. Management-by-Objectives (MBO)

    • A method whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance.

21. Intelligence Team

    • A cross-functional group of people who work together to gain a deep understanding of a specific competitive issue and offer insight and recommendations for planning.