Insy 4900
Oyindamola Oyekunle
Insy. 4900
Chapter 2 Review Answers 1. a. Strategic Planning- lays out the long-term direction to be taken by the organization. It also guides organizational efforts and focuses resources toward specific, clearly defined goals in the midst of an ever-changing environment. b. Tactical Planning- is more of a short-term focus with usually one to three years. It breaks down each applicable strategic goal into a series of incremental objectives.
Operational Planning- is derived from tactical plans to organize the ongoing day-to-day performance of tasks.
The constraints of resources can affect the need for planning negatively especially at the tactical planning level which needs more of resource allocation. 2. a. Values Statement- means the trust and confidence of stakeholders and the public are important factors for any organization. b. Vision Statement- means it expresses the aspirations of what the organization is and wants to become. c. Mission Statement- explicitly declares the business of the organization and its intended areas of operations. 3. Stakeholders’ is a person, group of persons or an organization that has an interest or concern in an organization.
Stakeholders can affect the organization’s action, objectives and policies because of the resources the organization derives from them. 4. A mission statement declares the business of an organization and its intended areas of operations.
Vision statement expresses the aspirations of what the organization is and wants to become.
Value statement means the trust and confidence of stakeholders and the public are important factors for an organization.
They are important to implementing an effective and efficient plan. They also contain the ethics, entrepreneurial and philosophical approaches to an organization. 5. Strategy is an act of planning that guides organizational efforts and focuses resources toward specific, clearly defined goals in the
Insy. 4900
Chapter 2 Review Answers 1. a. Strategic Planning- lays out the long-term direction to be taken by the organization. It also guides organizational efforts and focuses resources toward specific, clearly defined goals in the midst of an ever-changing environment. b. Tactical Planning- is more of a short-term focus with usually one to three years. It breaks down each applicable strategic goal into a series of incremental objectives.
Operational Planning- is derived from tactical plans to organize the ongoing day-to-day performance of tasks.
The constraints of resources can affect the need for planning negatively especially at the tactical planning level which needs more of resource allocation. 2. a. Values Statement- means the trust and confidence of stakeholders and the public are important factors for any organization. b. Vision Statement- means it expresses the aspirations of what the organization is and wants to become. c. Mission Statement- explicitly declares the business of the organization and its intended areas of operations. 3. Stakeholders’ is a person, group of persons or an organization that has an interest or concern in an organization.
Stakeholders can affect the organization’s action, objectives and policies because of the resources the organization derives from them. 4. A mission statement declares the business of an organization and its intended areas of operations.
Vision statement expresses the aspirations of what the organization is and wants to become.
Value statement means the trust and confidence of stakeholders and the public are important factors for an organization.
They are important to implementing an effective and efficient plan. They also contain the ethics, entrepreneurial and philosophical approaches to an organization. 5. Strategy is an act of planning that guides organizational efforts and focuses resources toward specific, clearly defined goals in the