(See related pages)
After studying this chapter, you will be able to:
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1. Define planning and distinguish between formal and functional plans. |
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2. Contrast strategic planning with operational planning. |
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3. Explain the differences between objectives, policies, procedures, and rules. |
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4. Define the management by objectives (MBO) process. |
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5. Define strategy and explain the various levels of strategies. |
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6. Define strategic management and explain the strategic management process. |
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7. Define organizational mission and explain how mission relates to long- and short-range objectives. |
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8. Discuss the components of a SWOT analysis. |
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9. Define a strategic business unit (SBU). |
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10. Discuss what organizational factors need to be evaluated in implementing a strategic plan. |