II.

Cards (17)

  • STRATEGIC PLANS by the top management
    • broad plans based on the company’s vision, mission, and values that address the company as a whole.
    • used to create more specific plans that will boost the company’s well-being.
  •  TACTICAL PLANS 
    • focuses on creating plans for specific areas of the company. 
    • translate broader plans into functional goals for each department.
  • OPERATIONAL PLANS 
    by frontline / low-level managers
    • marketing campaigns, campus recruitment.
    • formulation of ongoing plans that define specific operations of the organization.
    • Policy a set of principles that guide managers in addressing a particular issue 
  •  Rule - a regulation which describes and regulates the functions of an organization 
    •  Procedure a step-by-step process in accomplishing a task or achieving an organization
  • CONTINGENCY PLANS
    • created to manage all possible risks that may arise from the original plan.
    1. CRISIS MANAGEMENT PLAN
    • plan made for any kind of crisis such as industrial disasters or natural disasters.
  • SCENARIO PLANNING 
    • plans for both positive and negative scenarios that may arise from implementation of plans.
    • possible outcomes are analyzed and appropriate steps are identified.
  • PLANNING PROCESS
    I. Formulate the goals and objectives 
    V
    II. Identify the courses of actions 
    V
    III. Assign responsibilities 
    V
    IV. Document the plan and distribute to people concerned 
    V
    V. Review the plan and adjust accordingly
  • TOP-LEVEL MANAGEMENT PLANNING 
    Corporate strategy is usually conceptualized by the chief executive offices and other members of the top management.
  • general business strategy which is concerned with building a competitive advantage for a single business unit of a diversified company.
  • MIDDLE-LEVEL MANAGEMENT PLANNING 
    Functional strategy determines a particular function or process and is formulated by middle management officers.
  • LOW-LEVEL MANAGEMENT PLANNING
    Operational strategy - a narrower and more focused strategy formulated by low-level managers or frontline supervisors.
  • Financial Resources - the capital or investment that a company needs to start and sustain the business.
  • Human Resources - the company’s primary assets and are composed of employees who possess the skills and competencies needed for specific tasks and operations .
  • Physical Resources - include production facilities, distribution channels, and information technology systems that enable the execution of strategies.