MGMT 2130 Chapter Notes - Chapter 5: Decision-Making, Vision Statement, Nominal Group Technique
16 Aug 2016
School
Department
Course
Document Summary
Choosing a goal and developing a method or strategy to achieve that goal. Impede change and prevent or slow needed adaptation. How to make a plan that works: setting goals. Determination to achieve a goal; best to set goals collectively: developing effective plans. Lists the specific steps: tracking progress toward goal achievement. Proximal goals - short term goals or subgoals. Maintaining flexibility by making small, simultaneous investments in many alternative plans. Cushion of resources such as extra time, people, money, or production capacity, that can be used to address and adapt to unanticipated changes, problems, or opportunities. New section 1 page 1: top managers create the organizational vision and mission. Overall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years. Statement of a company"s purpose and the ultimate destination it hopes to reach, acting as a guide to individuals in an organization.
