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Action Plan
A detailed plan outlining actions needed to reach one or more goals.
Business Plan
A formal document detailing a business's goals and the strategy for achieving them.
Cascading Goals
A goal-setting process where goals are broken down into smaller, more manageable objectives.
Contingency Plans
Plans devised for unforeseen events or circumstances.
Goal
An aim or desired result that a person or group intends to achieve.
Long-term Goals
Goals that are set to be achieved over an extended period, typically more than a year.
Management by Objectives (MBO)
A management strategy that aims to improve organizational performance by clearly defining objectives agreed upon by management and employees.
Means-End Chain
A model that describes how resources and actions lead to the achievement of goals.
Mission
The fundamental purpose of an organization, defining its reason for existence.
Mission Statement
A brief statement that defines the mission of an organization.
Objective
Specific, measurable steps that one intends to take to reach a goal.
Operating Plan
A short-term plan that focuses on routine operations and activities within an organization.
Operational Goals
Specific goals that relate to the day-to-day functions of an organization.
Operational Planning
The process of setting goals and deciding how to achieve them within operational parameters.
Plan
A detailed proposal or strategy for achieving specific goals.
Planning
The process of setting objectives and determining a course of action for achieving those objectives.
Planning/Control Cycle
A continuous process that involves planning, implementing, and evaluating to achieve objectives.
Short-term goals
Goals that are set to be achieved within a short timeframe, typically within a year.
SMART Goal
A goal that is Specific, Measurable, Achievable, Relevant, and Time-bound.
Strategic Goal
Long-term goals that define what an organization wants to achieve over a period.
Strategic Management
The process of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives.
Strategic Planning
The process of defining an organization’s direction and making decisions on allocating resources to pursue this strategy.
Strategy
A plan of action designed to achieve a long-term or overall aim.
Tactical Goals
Specific, short-term objectives that help to achieve strategic goals.
Tactical Planning
The process of translating strategic goals into specific actions.
Values Statement
A declaration of an organization’s core values and principles.
Vision
An aspirational description of what an organization hopes to accomplish in the future.
Vision Statement
A statement that outlines the desired future position of an organization.
