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MANAGEMENT: The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.
PLANNING: A management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives
- Setting organizational goals.
- Developing strategies to reach those goals.
- Determining resources needed.
- Setting precise standards.
ORGANIZING: A management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything works together to achieve the organization's goals and objectives.
- Allocating resources, assigning tasks, and establishing procedures for accomplishing goals.
- Preparing a structure (organization chart) showing lines of authority and responsibility.
- Recruiting, selecting, training, and developing employees.
- Placing employees where they'll be most effective.
LEADING: Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives.
- Guiding and motivating employees to wrok effectively to accomplish organizational goals and objectives.
- Giving assignments.
- Explaining routines.
- Clarifying policies.
- Providing feedback on performance.
CONTROLLING: A management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.
- Measuring results against corporate objectives.
- Monitoring performance relative to standards.
- Rewarding outstanding performance.
- Taking corrective action when necessary.
VISION: An emcompassing explanation of why the organization exists and where it's trying to head.
MISSION STATEMENT: An outline of the fundamental purposes of an organization.
- The organization's self concept.
- Its philosophy.
- Long term survival needs.
- Customer needs.
- Social Responsibility.
- Nature of the product or service.
GOALS: The broad, long-term accomplishments an organization wishes to attain.
OBJECTIVES: Specific, short-term statements detailing how to achieve the organization's goal.
SWOT ANALYSIS: A planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats.
STRATEGIC PLANNING: The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.
TACTICAL PLANNING: The process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done.
OPERATIONAL PLANNING: The proces of setting work standards and schedules necessary to implement the company's tactical objectives.
CONTINGENCY PLANNING: The process of preparing alternative courses of action that may be used if the primary plans dont achieve the organization's objectives.
DECISION MAKING: Choosing among two or more alternatives.