Mission and Vision
Q: What is a mission statement?
A: A statement that defines an organization's purpose, values, and overall goals.
Q: Define long-term goals.
A: Goals that an organization aims to achieve over an extended period, typically beyond five years.
Q: What does the DECIDE acronym stand for?
A: Define, Establish, Choose, Identify, Develop, Execute.
Q: Define strategic management.
A: The process of setting long-term goals, formulating strategies, and making decisions to achieve organizational objectives.
Q: Why is a mission statement important for an organization?
A: It provides guidance and serves as a framework for decision-making.
Q: How are long-term goals different from short-term goals?
A: Long-term goals have a broader scope and longer time frame.
Q: How can the DECIDE acronym be applied in decision-making?
A: It provides a structured approach for making effective decisions.
Q: What are the key components of strategic management?
A: Analysis, formulation, implementation, and evaluation.
Q: What is a vision statement?
A: A statement that outlines an organization's future aspirations and desired outcomes.
Q: Define short-term goals.
A: Goals that an organization aims to achieve within a short period, usually within one year.
Q: What does the SMART acronym stand for?
A: Specific, Measurable, Achievable, Relevant, Time-bound.
Q: What is operational management?
A: The day-to-day activities and processes involved in running an organization effectively.
Q: How does a vision statement differ from a mission statement?
A: A vision statement focuses on the future, while a mission statement is about the present.
Q: Why is setting short-term goals important?
A: They help track progress, maintain motivation, and contribute to the achievement of long-term goals.
Q: How does using SMART goals help in goal-setting?
A: It ensures goals are well-defined, realistic, and have clear deadlines.
Q: How does operational management contribute to achieving organizational goals?
A: It ensures efficient use of resources and smooth execution of tasks.