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Chapter 7 Management

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1)Organizational goals serve four important purposes; they provide guidance and a unified direction for people in the organization, goal setting practices strongly affect other aspects of planning, goals can serve as a source of motivation for employees of the organization, and they provide an effective mechanism for evaluation and control. The four basic levels of goals are; mission, strategic, tactical, and operational. * Mission: statement of an organization’s fundamental purpose. * Strategic goal: a goal set by and for top management of the organization. * Tactical goal: a goal set by and for middle managers of the organization. * Operational goal: a goal set by and for lower-level managers of the organization.
2) A strategic plan is a general plan outlining decisions of resource allocations, priorities, and action steps necessary to reach strategic goals. These plans are set by the board of directors and top management, generally have extended time horizon, and address questions of scope, resource development, competitive advantage, and synergy. A tactical plan is aimed at achieving goals, developed to implement certain parts of a strategic plan. Involve upper and middle management, have a shorter time horizon and more specific focuses. An operation plan focuses on carrying out tactical plans to achieve operational goals. Developed by middle and lower management, short term focus and narrow in scope. Each one has a small set of activities. These plans are related because they each carry out a process and complement each other to reach specific goals.
3) Various types of operational plans include long-range plans, intermediate plans, and short range plans. Long range is a plan that covers many years, perhaps even decades (5+ years). An example of a long range plan is how Apple plans out a new iphone every year and has about 10 models projected

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