HESA 5350 Midterm: Definitions List for Midterm #1

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Planning linked with organizational strategic plan, including mission or vision and key priorities. Part of planning includes assessing the environment and needs of the society/community, and supplying these needs (i. e. the market). Strategic plans long-term plans used to achieve the mission of organization. 10-year timeline, but recent market and environment changes have shifted strategic planning to a shorter duration of 3-5 years. Operational plans these plans are specifically aligned with short-term objectives. The operational planning cycle is often tied to a business" fiscal year. Operational plans start from the sales needs for market and include costs and plans to support production. Budgets are usually derived from this planning process. Organizing structure of teams, how to group or organize resource teams to deliver best results. The concept of organization is based on the need for specialization (i. e. division of departments and their specialized units). Leading - about motivating and directing teams of resources to deliver plans and achieve results.

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