________ are allocated on the basis of progress towards the goals.
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Formal
________: written, specific, and long term focus, involved shared goals for the organisation.
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Specific performance
________ are determined by employees and managers.
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external environment
The ________ can reduce the impact of planning on performance.
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Goals /objectives
desired outcomes for individuals, groups, or entire organisations, provide direction and evaluation performance criteria.
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Strategic Goals
related to the performance of the firm relative to factors in its external environment.
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Financial Goals
are related to the expected internal financial performance of the organisation.
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organisational hierarchy
Flatten the ________ to foster the development of planning skills at the organisational levels.
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Dynamic environment
specific but flexible plans.
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Planning
is a primary managerial activity that involves
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Informal
not written down, short-term focus, specific to an organisational unit
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Plans
documents that outline how goals are to be accomplished, describe how resources are to be allocated and establish activity schedules
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Financial Goals
are related to the expected internal financial performance of the organisation
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Strategic Goals
related to the performance of the firm relative to factors in its external environment
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Stated goals Vs. Real goals
broadly-worded official statements of the organisation (intended for public consumption) that may be irrelevant to its real goals (what goes on in the organisation)
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Key elements of MBO
goal specificity, participative decision making, an explicit performance/evaluation period, feedback
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Stable environment
specific plans
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Dynamic environment
specific but flexible plans
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Commitment concept
current plans affecting future commitments must be sufficiently long-term to meet those commitments
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