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Chapter 4
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action plan
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the specific steps, people, and resources needed to accomplish a goal
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aggregate product plans
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plans developed to manage and monitor all new products in development at any one time
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benchmarking
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the process of identifying outstanding practices, processes, and standards in other companies and adapting them to your company
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budgeting
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quantitative planning through which managers decide how to allocate available money to best accomplish company goals
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common-enemy mission
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company goal of defeating a corporate rival
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distal goals
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long-term or primary goals
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goal commitment
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the determination to achieve a goal
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internal-transformation mission
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company goal of remaining competitive by making dramatic changes in the company
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learning-based planning
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learning better ways of achieving goals by continually testing, changing, and improving plans and strategies
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management by objectives (MBO)
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a four-step process in which managers and employees discuss and select goals, develop tactical plans, and meet regularly to review progress toward goal accomplishment
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mission
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statement of a company’s overall goal that unifies company-wide efforts toward its vision, stretches and challenges the organization, and possesses a finish line and a time-frame
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operational plans
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day-to-day plans, developed and implemented by lower-level managers, for producing or delivering the organization’s products and services over a 30-day to 6-month period
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options-based planning
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maintaining planning flexibility by making small, simultaneous investments in many alternative plans
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planning
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choosing a goal and developing a strategy to achieve that goal
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policy
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standing plan that indicates the general course of action that should be taken in response to a particular event or situation
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procedure
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standing plan that indicates the specific steps that should be taken in response to a particular event
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product prototype
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a full-scale, working model of a final product that is being tested for design, function, and reliability
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proximal goals
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short-term goals or subgoals
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role-model mission
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company goal of imitating the characteristics and practices of a successful company
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rules and regulations
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standing plans that describe how a particular action should be performed, or what must happen or not happen in response to a particular event
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S.M.A.R.T. goals
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goals that are specific, measurable, attainable, realistic, and timely
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scenario planning
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the process of developing plans to deal with several possible future events and trends that might affect the business
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single-use plans
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plans that cover unique, one-time-only events
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standing plans
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plans used repeatedly to handle frequently recurring events
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strategic plans
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overall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years
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stretch goals
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extremely ambitious goals that, initially, employees don’t know how to accomplish
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tactical plans
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plans created and implemented by middle managers that specify how the company will use resources, budgets, and people over the next six months to two years to accomplish specific goals within its mission
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targeting
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mission stated as a clear, specific company goal
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vision
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inspirational statement of an organization’s enduring purpose
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