CLEP Principles of Management - Planning in Organizations Questions With Complete Solutions.

All other functions stem from - Planning Planning - one of the four functions of management that allows a manager to develop and implement strategic action steps aimed at reaching an organizational goal three major types of planning - operational, tactical & strategic planning contingency planning - an alternative course of action, which can be implemented if and when an original plan fails to produce the anticipated result Tactical plans - plans that support strategic plans by translating them into specific plans relevant to a distinct area of the organization. (concerned with responsibility and functionality of lower level departments) Operational plans - plans made by frontline, or lower-level, managers and are focused on the specific procedures that occur within the lowest levels of organization (scheduling, stocking, etc) single use plans - plans that are intended to be used only once ongoing plans - plans that are built to withstand the test of time (policy, procedure or rule) business mission statement - explains the purpose of why a company is in business and what they're trying to accomplish marketing myopia - when a company focuses too closely on their products or services rather than benefits to consumersSWOT analysis - (situational analysis) process to understand the current and potential environments. (Strengths, Weakness, Opportunities, Threats) unique selling proposition - something that you're very good at, but your competition is not environmental scanning - collection and interpretation of environmental conditions, such as relationships, the economy, events, demographics, social, political and technological changes.