Unit 3: Management Functions: Planning Lesson 3.2 Types of Plans

Vocabulary flashcards covering key terms from 3.2 Types of Plans in Unit 3: Planning.

Strategic plan

A long-term plan (typically 3–5 years) developed by top management based on the company's vision, mission, and values; includes external and internal analyses to identify strategic directions and objectives.

Tactical plan

A short-term plan (usually within one year) used by middle management to translate the strategic plan into concrete objectives and actions for each business function.

Operational plan

A short-term plan detailing daily activities to achieve tactical goals; includes KPIs and specific actions; may be single-use or standing.

Contingency plan

A plan to prevent or manage risks that could disrupt operations, with protocols and SOPs to ensure business continuity.

Single-use plan

A task-specific plan for unusual or one-time situations (e.g., a budget, a project plan, startup plan).

Standing plan

Plans for regular activities, including policies, procedures, and guidelines that govern how employees perform.

Vision

The desired future state the company aims to achieve.

Mission

A defined point of action to reach the vision; what the organization does and why.

Core Values

Guiding principles and beliefs that shape behavior and decisions in the company.

External analysis

Analysis of industry forecasts, trends, and external factors to inform planning.

Internal analysis

Analysis of the company's capabilities, resources, and core competencies.

KPIs

Key Performance Indicators; metrics used in plans to measure progress toward objectives.

Top management

The highest level of management responsible for setting strategy, vision, and long-term plans.

Middle management

Management level that translates strategy into tactical plans and coordinates functional areas; implements plans.

Low-level management

Supervisors and frontline managers responsible for day-to-day operations and executing operational plans.

AmBisyon Natin 2040

Philippine long-term national vision (2016) guiding development over 25 years with four focus areas: prosperous middle class, long healthy life, smarter and more innovative, high-trust society.

Long-term planning

Planning spanning several years (often 3–5 years or more) aligned with strategic goals.

Short-term planning

Planning for the near term (often within a year) aligned with tactical and operational objectives.