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Chapter 3: Fundametals of Planning Flashcards

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0
Q

What is a plan?

A

A means devised

For attempting to reach goal

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1
Q

What is a goal

A

A future target
End result

Individual/ organisation wishes to achieve

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2
Q

What is asked when formulating a plan?

A

What
When
How
Who

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3
Q

OLC achieve the goals set. Hence, planning is the managements most

A

Fundamental function

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4
Q

What is a mission of an organisation?

A

Outlines its purpose

Basic reason for existence

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5
Q

What is a mission statement?

A 
Broad declaration of the 
basic 
unique purpose 
Scope of operations
That distinguishes the organsations form others
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6
Q

The question a mission statement answers is

A

Who are we
What business are we in
What do we want to become

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7
Q

A clear mission statement serves to

A

Guide individuals groups managements throughout the organisation
Does not change from year to year

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8
Q

What are the level of goals?

A

Strategic
Tactical
Operational

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9
Q

What are the characteristics of strategic goals?

A

Set by top management
Broadly defined targets, issues regarding whole organisation
Long-term endeavors, future end results

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10
Q

What characteristics can you classify goals based on?

A

Set by whom
Scope
Time frame

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11
Q

Tactical goals are

A

Set by middle management
More specific than strategic goals, spell out what must be done by divisions or department units to achieve strategic goals

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12
Q

Operational goals are

A

Set by lower management

Narrower in scope, precise and measurable outcomes

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13
Q

Lower levels of management include

A

Work groups
Individuals
Departments

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14
Q

examples of strategic goals are about

A

Growth

Profitability

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15
Q

The 3 level of goals form a

A

Hierarchy

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16
Q

The hierarchy formed by the 3 level of goals is known as the

A

Means end chain

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17
Q

The ends of the lower level is the

A

Means of the higher level

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18
Q

Strategic goals are the ends

A

Toward the organisation goals

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19
Q

The ends of the tactical goals are the

A

Means of achieving strategic goals

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20
Q

Viewed from the level itself,

A

The means become the ends itself

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21
Q

What are the benefits of goals?

A

Legitimacy
Source of motivation and commitment
Guide to action
Standard of performance

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22
Q

When a company is legitimate,

A

Means that the organisation stands for something, has a reason for existence
(Missions statement)

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23
Q

Legitimacy is seen through

A

Corporate values
Product quality
Attitude to employees

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24
When a company is legitimate, the employees will
Be committed | Can identify with the reason for existence
25
Employees are motivated because
There is reduced uncertainty by clarifying what should accomplished
26
Why are goals a guide to action?
Goals provide a sense of direction By focussing on specific target Direct effort toward important outcomes
27
Why do goals maintain standard of performance?
Defined desired outcomes Serve as a performance criteria Providing standard of assessment
28
What are the adjectives that describe a good goal?
``` SMART Specific Measurable Attainable Relevant Time limited ```
29
How is a goal specific?
Clear in what is expected | Precisely defined
30
How is a goal measurable?
It is expressed in quantitative terms
31
How is a goal attainable?
Not unreasonably difficult (but still challenging) | Not unrealistic
32
How are goals relevant?
Cover key result areas | Activities that contribute to org. Performance and competitiveness
33
How are goals time-limited?
Should specify time period | Deadline
34
What are the benefits of planning?
Future-oriented Coordinate decisions Coordinated sense of direction
35
How does planning help managers become future-oriented?
Anticipate by: Identify opportunities Avoid problems
36
How does planning help to coordinate decision?
Managers have to think organisation as a whole | See interrelationships of different parts of the organisation
37
How does planning create a coordinated sense of direction?
Managers and staff come together, | They develop sense of having the same objectives
38
What is the basic planning process made up of?
Stating goals Listing alternative ways of reaching goals Developing premises upon which each alternative is based Choosing best alternative for reaching goals Developing plans to pursue chosen alternatives Putting plans into action
39
When stating organisational goals, what do managers have to do?
Analyze current status Forecast the future environment Analyze strengths and weaknesses Opportunities and threats Goals need to be SMART
40
What is a premise that is developed?
Assumption upon which alternative is based
41
What is determined by the premises?
The feasibility of using the alternative
42
How do you choose the best alternative?
By evaluating the premises | Some premises may be unreasonable
43
What are the 3 types of planning?
Strategic Tactical Operational
44
What is strategic planning?
It is a process through managers determine the organisations mission or basic purpose and a set of means to achieve it. What to do. How to do it. It is done by top level The time frame for planning is long term (5>)
45
What is tactical planning?
Process of translating strategies into shorter term tactical plans More specific and concrete than strategic plans Relate to limited functional areas (marketing , personnel, production, finance) Done by middle management Time frame is intermediate (1-3 years)
46
What is operational planning?
Spell out specifically what must be accomplished over short time periods in order to achieve operational E.g. Budgets, quotas, schedules Done by lower level/supervisors Short time frames <1yr
47
Goals have little meaning unless there is a
Plan
48
Organisations use all 3 types of plans, managers ensure that there is what sort of interaction among them?
Smooth
49
More time is spent on
Strategic planning by top level managers
50
There are different types of plans. They are
Single use plans | Standing plan
51
Single use plans are used in what situations?
Unique situations to | Achieve a goal that will not be repeated in the future
52
Examples of single use plans are
Programme Project Budget
53
What is a programme?
A plan which outlines a Variety of interdependent activities That must be coordinated to achieve a goal
54
What is a project ?
Project is smaller in scale than programme | Or part of a programme
55
What is a budget?
A financial plan for allocating resources to a programme or project
56
What does a standing plan provide?
Clear guidelines for performing recurring activities
57
Examples of standing plans are
Policy Procedure Rule
58
What is a policy?
General guide for managers to follow in making decisions | Specifies organisation's General response to a certain problem or situation
59
What is a procedure?
Sequence of actions to be followed in order to achieve an objective
60
What is a rule?
A statement which spells out specific actions to be taken or not taken in a given situation

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