Chapter 5: Planning and Goal Setting
Goal: The desired future circumstance or condition that the organization attempts to realize.
Strategic Goal: It is the official goal which is the broad statements describing where the organization wants to be.
Tactical Goal: The results that major divisions and departments within the organization intend to achieve.
Operational Goal: The results expected from departments, workgroups, and individuals.
Mission Statement: A broadly stated definition of purpose that distinguishing the organization from others of similar type.
Plan: A blueprint for goal achievement and specifies the necessary resource allocations, schedules, tasks, and other actions.
Strategic Plan: It defines the action steps by which the company intends to attain strategic goals.
Tactical Plan: It designed to help execute the major strategic plans and to accomplish a specific part of the company's strategy.
Operational Plan: It specifies the actions steps toward achieving operational goals and support tactical activities.
Goal: The desired future circumstance or condition that the organization attempts to realize.
Strategic Goal: It is the official goal which is the broad statements describing where the organization wants to be.
Tactical Goal: The results that major divisions and departments within the organization intend to achieve.
Operational Goal: The results expected from departments, workgroups, and individuals.
Mission: It is the organization's reason for existence that describes the organization's values, aspirations, and reasons for being.
Mission Statement: A broadly stated definition of purpose that distinguishing the organization from others of similar type.
Plan: A blueprint for goal achievement and specifies the necessary resource allocations, schedules, tasks, and other actions.
Strategic Plan: It defines the action steps by which the company intends to attain strategic goals.
Tactical Plan: It designed to help execute the major strategic plans and to accomplish a specific part of the company's strategy.
Operational Plan: It specifies the actions steps toward achieving operational goals and support tactical activities.
Chapter 6: Managerial Decision Making
Decision: A choice made from alternatives.
Decision Making: The process of identifying problems and opportunities and then resolving them. It involves the effort of both before and after the actual choice.
Programmed Decision: Involve situations that have occurred often enough to enable decision rules to be developed and applied in the future.
Nonprogrammed Decision: Made in response to the situations that are unique, poorly defined and largely unstructured, and have important consequences to the organization.
Certainty: All the information the decision maker needs are fully available.
Risk: A decision has a clear-cut goal and that good information is available, but the future outcomes associated with each other alternative are subject to some chance of loss and failure.
Uncertainty: Managers know which goals they wish to achieve, but information about alternatives and future events is incomplete.
Ambiguity: The goals to be achieved or the problem to be solved is unclear, the alternatives are difficult to define, and information about the outcome is unavailable.
Classical Model of Decision Making: It is based on rational economic assumptions and manager beliefs about what ideal decision making should be.
Administrative Model of Decision Making: It describes how managers actually make decisions in complex situations rather than dictating how they should make decisions according to a theoretical ideal.
Political Model of Decision Making: It is useful for making nonprogrammed decisions when conditions are uncertain, information is limited, and there are manager conflicts about what goals to pursue or what course of action to take.
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