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conscious, systematic process of decisions about goals and activities that an individual, work unit, or organization will pursue in the future
planning
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What are the basic planning process
- 1. situational analysis
- 2. Alternative goals and plan using SMART goals
- 3. Goal and plan evaluation
- 4. Goal and plan selection
- 5. implementation
- 6. monitor and control
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In the planning process describe what happens STEP 1
- Situational Analysis:
- gather, interpret, and summarize all information relevant to the planning issue in question
- helps identify planning assumptions, issues, and problems
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In the planning process describe what happens STEP 2
Alternative Goals and Plans- generate future goals that maybe used in the future; once a range of alternative is generated, alternatives can be evaluated
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In the planning process describe what happens STEP 3
Goal and Plan evaluation: 1)evaluate advantages, disadvantages, and potential effects of each goal and plan 2) prioritize goals 3) consider implications of alternative plans for meeting high-priority goals
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In the planning process describe what happens STEP 4
Goal and Plan Selection- select appropriate and feasible goal and create scenarios.- describes a set of future conditions
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In the planning process describe what happens STEP 5
Implement- successful implementation links budget and reward systems; furthermore, managers and employees must: understand the plan, have resources, and motivated to implement the plan
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In the planning process describe what happens STEP 6
Monitor and control- managers look at if the plan is successful; and modification is created if needed
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a set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of the organization
tactical planning
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process of identifying the specific procedures and processes required at lower of the organization
operational planning
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a set of procedures for making decisions about the organization's long- term survival
strategic planning
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major targets or end results relating to the organization's long-term survival, value, or growth
strategic goals
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a pattern of actions and resource allocations designed to achieve the organization's goals
strategy
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a process that involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies
strategic management
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What are steps to the strategic management process
- 1. mission,vision, goals
- 2. analysis of opportunities and threats
- 3. analysis of strengths and weaknesses
- 4. SWOT analysis
- 5. strategy implementation
- 6. strategic control
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a type of plan that focus on ongoing activities designed to achieve an enduring set of goals
standing points
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type of plan where actions to be taken when a company's initial plans have not worked or require sudden change
contingency plan
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identifies a set of business, markets, or industries in which an organization competes and the distribution of resources among those entities
corporate strategy
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describes the major actions by which a business competes in a particular market
business market
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a system designed to support managers in evaluating the organization's progress regarding its strategy and , when discrepancies exists, taking corrective actions
strategic control system
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