Strategic Planning
This level of management is mainly responsible for strategic planning.
What is top management?
Operational plans are developed by these managers.
What is first-line or lower management?
What is the process of predicting what will happen in the future?
What is forecasting?
One main challenge of planning is that it requires this type of flexibility.
What is adaptability?
This is the process of measuring performance and taking action to ensure desired results.
What is controlling?
Strategic plans usually cover this time frame.
What is long-term (3–5 years or more)?
Management by Objectives is regular communication between who and who?
Who is a supervisor and a subordinate?
What type of planning requires exploring a range of possible outcomes?
What is Scenario Planning?
What personality type is more prone to stress?
What is Type-A personality?
Effective controlling ensures organizational goals are?
What is achieved or met?
A SWOT analysis examines these four elements. (What does SWOT stand for?)
What are Strengths, Weaknesses, Opportunities, Threats?
What does S.M.A.R.T in a S.M.A.R.T goal stand for?
What is Specific, Measurable, Achievable, Realistic, and Time-bound?
What are 2 of the 7 types of strategies
What are (2 of any of the above): Growth, Reconstructing, Global, Co-operative, eBusiness, B2B/B2C, Differentiation, Cost Leadership
Plans can fail if managers do not do this with employees.
What is communication? (Employee involvement)
In which numerical step of the control process do you establish objectives and standards?
What is Step 1
Strategic planning begins with what kind of statement?
What is a vision statement
What are the two main components of a company's external environment?
What are the specific environment and the general environment?
What are the 3 elements that strong strategy plans consist of?
What is objective, scope, and competitive advantage?
Which type of employee buy-in uses data and rational arguments to convince people of the need to change?
What is rational persuasion?
What type of control takes place before a work activity begins, and provide an example for this situation.
What are Feedforward Controls? An example is: Home Depot ensures that its products meet U.S. safety standards.
Identify the 3 different types of plans
What are strategic plans, tactical plans, and operational plans
What type of plans specifically describe the day-to-day running of a company?
What are operational plans?
Provide four examples of competitive advantage.
What are higher quality products, better customer service, cost efficiency, and better prices?
What are the 2 types of stress?
What are Eustress (good stress) and Distress (bad stress)
Place the following steps of the control process in order. Establish objectives and standards, compare results with objectives and standards, take corrective action, and measure actual performance.
What is Establish objectives and standards, Measure actual performance, Compare results with objectives and standards, and Take corrective action.