Coping with uncertainty by formulating future courses
What is Planning
100
businesses are continuously cycling through decisions about three kinds of business.
problems:entrepreneurial,engineering,and administrative
What is the Adaptive Cycle
100
Specific commitment to achieve a measurable result within a stated period of time
What is a goal or objective.
100
defines the course of action needed to achieve the stated goal
What is action plan
100
Hersey and Blanchard's Life Cycle (Situational) Theory of Leadership is about what?
What are the 4 M's
200
Helps you check on progress, coordinate activities, think ahead, and cope with uncertainty.
What are the benefits of planning
200
Top managers.
Determine what the organization's long-term goals should be for the next 1-5 years with the resources they expect to have.
What is Strategic Planning.
200
A hierarchy of goals;
in the chain of management (operational, tactical, strategic), the accomplishment of low-level goals are the means leading to the accomplishment of high-level goals or ends.
What is Means-End Chain
200
typically designed for a 1-year period, defines how you will conduct your business based on the action plan; it identifies clear targets such as revenues, cash flow, and market share
What is Operating Plan
200
(unable/unwilling): Lacking specific required skills and unmotivated to take responsibility for the job/task.
What is M1
300
"Lets stick with what we do best"
Expert at producing and selling narrowly defined products or services.
Don't seek opportunities outside their present markets
What are defenders
300
Middle management.
determines what contributions their departments or similar work units can make with their given resources during the next 6-24 months.
Plans that are ongoing and provide guidance for activities performed repeatedly
What is Standing Plan
300
(unable/willing): Lacking specific required skills but motivated to take responsibility for the job/task.
What is M2
400
"Lets create out own opportunities"
Focus on developing new products or services.
New markets: dont wait for things to happen.
What are prospectors.
400
First line managers.
They dermine how to accomplish specific task with avalible resources within the next 1-52 week
What is Operational Planning.
400
MBO stands for..
What is management by objectives (MBO)
400
Plans that address unique events that do not reoccur
What is a Single-Use Plan
400
(able/uncertain willingness): At this stage, an employee is able to complete tasks autonomously but uncertain about their willingness to be completely delegated to. This employee simply lacks the motivation or confidence that M4 employees have.
What is M3
500
"Let others take the risk and we'll imitate what works best"
What are Analyzers
500
1) make the plan
2) carry out the plan
3) control the direction by comparing the results with the plan
4) control the direction in two ways (correcting or improving)
What is Planning/Control Cycle
500
1.managers and employees jointly set objectives for the employee.
2. managers develop action plans
3. managers and employees periodically review the employees performance.
4.the manager makes a performance appraisal and rewards the employee according to results
What is management by objectives (MBO).
500
"Lets wait until there's a crisis, then we'll react"
make adjustments only when finally forced to by environmental pressures
What are Reactors
500
(able/willing): This person is ready to be delegated to. Simply give them the task and trust them implicitly to complete it without assistance and without follow-up.