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MGD415H5 (1)
Midterm

First test review

23 Pages
97 Views

Department
Communication, Culture and Technology
Course Code
MGD415H5
Professor
Sarah Richardson

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MGD 415 Test Review
PDOC
Planning
oDevelop mission statement, and what company has to do to achieve their
goals, developing GOPST (goals, objectives, plans, strategies, tactics),
knowing how to match resources to do things you need
Directing
oTraining, evaluating, firing, influencing peoples behaviour through
motivation, bossing people around
Organizing
oIdentifying and establishing jobs, positions, and chain of command
Controlling
oCheck to see if things are done right, If not, give commands to control things
and taking corrective or pre-emptive actions
Mission Statements
An organizations basic purpose of being
oOne of the first actions an organisation does
Vision statement vs. mission statement
oVision statement pushes the association toward some future goal or
achievement
oMission statement guides current, critical strategic decision making
Orients the company and supplies guidelines for upper management when facing
difficult problems
Mission statements can change and adapted as marketing situation arise
oEx. Hondas switch from selling motorcycles to cars
Benefits: direction (what organization does), focus (company’s strengths and
competitive advantages), policy, meaning (what company strives to achieve),
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challenge (setting up goals and measurements of achievement), and passion
(making everyone involved with the organization)
Mission statement vs. mantra
oMission statement is a publicly oriented statement of what the corporation
wants to accomplish
oMantra is a motivational oriented expression that can serve as an identifying
slogan to assist accomplishing branding objectives
Mission statement vs. goal
oMission statement worded in a way that it can be used in advertising and
public relations
Ex. Goal - to be the largest forest products company in Canada
Ex. Mstatement - contributing to our environment, through
responsible harvesting
GOPST (Goals, objectives, plans, strategies, tactics)
Goal
oUltimate thing you wish to achieve
oStatements that a company uses to motivate employees and statements used
to judge and measure challenges that you face
oSupposed to be what you end up with
oEx. to be the largest online cosmetics retail site on the planet
Objectives
oMeasurable tasks that have to be done in order to achieve your goal
oObjectives that have time elements make it easier to make plans
oTime elements and quantifiable amounts mean the objective can be
measured
Plans
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oOrdered sequences of several strategies with a time element, when carried
out, allow objectives to be reached, and additional information identifying
supporting resources (HR, technical resources, etc.)
Strategies
oThe arrangement of various tactics (actions) which you do to achieve your
plans
oStrategies are the target market + the marketing mix
Target market = who you are selling to
Marketing mix are the 4 Ps and how you mix them to suit what the
company wants to achieve
oEx. develop online give ways to drive consumers to our product
By having online contests with prize given away by other companies,
you associate your brand with other circumstances thereby increasing
your brand depth
Tactics
oThe specifics of strategies. These are specific ways and options you do things
in order to execute the strategies
oEx. establish ongoing monthly contests giving away sample product to lucky
10 winners
To enter consumers must complete a data sheet providing
demographic information
SWOT analysis in GOPST
oYou want to accomplish goals to meet your objectives by making plans and
you need strategies and tactics that are effective and in order to achieve your
plan you need to know what your strengths and weaknesses, also and what
are the opportunities and threats which is part of the preparations for
developing plans which then lead to satisfying objectives
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Description
MGD 415 Test Review PDOC Planning o Develop mission statement, and what company has to do to achieve their goals, developing GOPST (goals, objectives, plans, strategies, tactics), knowing how to match resources to do things you need Directing o Training, evaluating, firing, influencing peoples behaviour through motivation, bossing people around Organizing o Identifying and establishing jobs, positions, and chain of command Controlling o Check to see if things are done right, If not, give commands to control things and taking corrective or pre-emptive actions Mission Statements An organizations basic purpose of being o One of the first actions an organisation does Vision statement vs. mission statement o Vision statement pushes the association toward some future goal or achievement o Mission statement guides current, critical strategic decision making Orients the company and supplies guidelines for upper management when facing difficult problems Mission statements can change and adapted as marketing situation arise o Ex. Hondas switch from selling motorcycles to cars Benefits: direction (what organization does), focus (companys strengths and competitive advantages), policy, meaning (what company strives to achieve), www.notesolution.com challenge (setting up goals and measurements of achievement), and passion (making everyone involved with the organization) Mission statement vs. mantra o Mission statement is a publicly oriented statement of what the corporation wants to accomplish o Mantra is a motivational oriented expression that can serve as an identifying slogan to assist accomplishing branding objectives Mission statement vs. goal o Mission statement worded in a way that it can be used in advertising and public relations Ex. Goal - to be the largest forest products company in Canada Ex. Mstatement - contributing to our environment, through responsible harvesting GOPST (Goals, objectives, plans, strategies, tactics) Goal o Ultimate thing you wish to achieve o Statements that a company uses to motivate employees and statements used to judge and measure challenges that you face o Supposed to be what you end up with o Ex. to be the largest online cosmetics retail site on the planet Objectives o Measurable tasks that have to be done in order to achieve your goal o Objectives that have time elements make it easier to make plans o Time elements and quantifiable amounts mean the objective can be measured Plans www.notesolution.com
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