business chapter 7 Flashcards
Vision
Gives sense of purpose/ set of values that unities workers
what are two objectives to a vision statement?
gives sense of purpose and gives sets of values
mission statement
outlines organization’s fundamental purposes (self-concept, philosophy, long-term survival needs, its customer needs, its social responsibility, nature of its products/services
planning
Management function that deals with trends/ determines the best strategies to achieve organization goals/objectives
leading
creating a vision for the organization. Communicating, guiding, training, coaching, and motivating others to achieve goals in a timely manner.
management
The process used to accomplish goals thru planning. organizing,leading, and controlling
controlling
establishes clear standards to determine if the organization is meeting goals
Organizing
management function designing structure and creating systems to achieve goals
SWOT analysis
is a planning tool
Analyze strengths and weaknesses (internal)
Analyze opportunities and threats (external)
Goals
broad, long-term accomplishments
Objectives
specific short-term statements on how to achieve goals
Managers
get things done using financial resources, information, equipment, and workers
Strategic Planning
the setting of broad, long-range goals by top managers
Uses policies, procedures, strategies, and resources to achieve goals
Tactical Planning
the identification of specific short-range objectives by lower-level managers
Developing detailed short-term statements of what to be done, who is to do it, and how
Contingency Planning
the creation of backup plans in case the primary plan fails
Process of preparing alternative course of action (plan b)
