MGAD40H3 Study Guide - Motivation, Workflow
2 May 2011
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Document Summary
Goal formal aspiration that defines level of achievement. Specify ends and means which to achieve them. Objectives/targets: measurement stds and time frames to gauge progress. Performance goal: desired level of accomplishment against actual results measured. Diff ways of generating financial returns w/o clarity of purpose. Each measure (rev growth, store openings, exp reduction, price vs comp) communicates diff set of priorities. Subordinates infer strategic direction top mngrs wish to follow. Frees up top mgmt attention to focus on other things. Signal preferences: where ppl should dedicate their time. Disciplined approach to mgmt working through others. Communicate prospects of the business with stockholders and analysts. Factors must be achieved for intended strategy to succeed: work deductively to identify performance drivers. Performance drivers: variables (1) influence prob of strategy successful implementation (2)provide largest potential for marginal gain over time: identify critical performance variables from list of performance drivers. any performance variable that could cause strategy to fail.
