Goal or
Objective:
Something a
person or business hopes to achieve.
Goals that are
set for extended periods of time, typically five years or more
into the future.
Goals that are
set for the period from one to five years into the future.
Goals that are
set for the very near future, typically less than one year
hence.
The balancing
and reconciling of different and sometimes contradictory goals.
The creation
of strategies to meet the company goals at all levels.
Long&-term
goals derived directly from a firm's mission statement.
The process of
scanning the business environment for threats and opportunities.
The process of
analyzing a firm's strengths and weaknesses.
A strategy
that addresses the issue of what business or businesses a
corporation wishes to enter.
A tool for
classifying businesses or products into four categories
according to their current market share and their market growth
potential: stars (high market growth, high market share); cash
cows (low market growth, high market share); question marks
(high market growth, low market share); and dogs (low market
growth, low market share).
A strategy
concerned with achieving the goals of a business or a related
set of businesses within a corporation.
A business
strategy that involves cutting back on some aspects of a firm's
operations.
A business
strategy that involves changing both the company's mission and
its approach to doing business.
A strategy
that deals with the major aspects of a company's operations
marketing finance, production, human resources, and research and
development.
A marketing
strategy in which a company develops an image for its products
or services that serves to distinguish them from those of its
competitors.
A marketing
strategy that involves aggressive price and cost cutting.
A marketing
strategy that targets a selected region, consumer group, or
other market segment.
A financial
strategy that addresses a firm's method of paying for major
operations.
A financial
strategy that addresses a firm's plans for earning income on its
assets.
A financial
strategy that addresses the precise mix and different kinds of
stock issued by a company, how that stock is backed, and related
issues.
Competition in
which speed is an important element of success.
Specific short&-run
and intermediate plans that parallel strategic goals, but on a
narrower scale. Tactical plans are more narrowly focused than
strategic goals and are implemented by middle management.
Highly
detailed short&-run plans that detail the activities that
must be completed to further the firm's tactical and strategic
plans.
Operational
plans that are used only once.
Operational
plans for tarrying out activities that are performed on a
regular basis.
Planning for
change contingency planning attempts to identify important
aspects of the business or its market that might change and to
define how the company will respond to those changes.
A firm's
methods for dealing with emergencies.
(MBO) A system
of collaborative goal setting in which managers meet with each
of their subordinates individually to establish goals against
which the employee's performance is later evaluated.
