Managerial Planning & Goal Setting - created from Mind Map

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Operational Goals

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

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.

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.

mission statement

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

Management by means (MBM)

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

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.

Standing Plans

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

Goal

A desired future state that the organization wants to realize.

Strategic Plans

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

Operational Plans

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

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.

Mission

An organization’s purpose or reason for existence.

Plan

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

Tactical Plans

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

Planning

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

Strategy Map

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

Stretch Goals

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

Tactical Goals

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

Single-Use Plans

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

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.

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.

Managerial Planning & Goal Setting