Managerial Planning & Goal Setting - created from Mind Map

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

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

mission statementA 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 BuildingAn 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 PlansAn ongoing plan used to provide guidance for tasks that occur repeatedly in the organization.

GoalA desired future state that the organization wants to realize.

Strategic PlansAction steps by which an organization intends to attain strategic goals.

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

Strategic GoalsA 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.

MissionAn organization’s purpose or reason for existence.

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

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

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

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

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

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

Single-Use PlansA 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 TeamA 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