MBA 600 MG EXAM CH 5 & 7 QUESTIONS AND
CORRECT ANSWERS
Know the difference between goals and plans - ANSWER Goals are important because
organizations exist for a purpose, and goals define and state that purpose.
- Goals specify future ends; plans specify today's means
- The concept of planning usually incorporates both ideas; it means determining the
organization's goals and defining the means for achieving them.
Goals - ANSWER a desired future circumstance or condition that the organization attempts to
realize.
Plans - ANSWER A plan is a blueprint for goal achievement and specifies the necessary resource
allocations, schedules, tasks, and other actions.
Know the difference between mission and vision - ANSWER The mission describes the
organization's values, aspirations, and reason for being. A well-defined mission is the basis for
development of all subsequent goals and plans.
Mission - ANSWER the organization's reason for existence
Vision - ANSWER
, Mission Statement - ANSWER a broadly stated definition of purpose that distinguishes the
organization from others of a similar type.
(The content of a mission statement often describes the company's basic business activities and
purpose, as well as the values that guide the company. Some mission statements also describe
company characteristics, such as desired markets and customers, product quality, location of
facilities, and attitude toward employees.)
Strategic Goals - ANSWER "official goals", are broad statements describing where the
organization wants to be in the future
-pertain to the organization as a whole rather than to specific divisions or departments
Strategic Plans - ANSWER define the action steps by which the company intends to attain
strategic goals
- tends to be long term and may define organizational action steps from two to five years in the
future
Tactical Goals - ANSWER the results that major divisions and departments within the
organization intend to achieve
- apply to middle management and describe what major subunits must do for the organization
to achieve its overall goals
Tactical Plans - ANSWER designed to help execute the major strategic plans and to accomplish a
specific part of the company's strategy
CORRECT ANSWERS
Know the difference between goals and plans - ANSWER Goals are important because
organizations exist for a purpose, and goals define and state that purpose.
- Goals specify future ends; plans specify today's means
- The concept of planning usually incorporates both ideas; it means determining the
organization's goals and defining the means for achieving them.
Goals - ANSWER a desired future circumstance or condition that the organization attempts to
realize.
Plans - ANSWER A plan is a blueprint for goal achievement and specifies the necessary resource
allocations, schedules, tasks, and other actions.
Know the difference between mission and vision - ANSWER The mission describes the
organization's values, aspirations, and reason for being. A well-defined mission is the basis for
development of all subsequent goals and plans.
Mission - ANSWER the organization's reason for existence
Vision - ANSWER
, Mission Statement - ANSWER a broadly stated definition of purpose that distinguishes the
organization from others of a similar type.
(The content of a mission statement often describes the company's basic business activities and
purpose, as well as the values that guide the company. Some mission statements also describe
company characteristics, such as desired markets and customers, product quality, location of
facilities, and attitude toward employees.)
Strategic Goals - ANSWER "official goals", are broad statements describing where the
organization wants to be in the future
-pertain to the organization as a whole rather than to specific divisions or departments
Strategic Plans - ANSWER define the action steps by which the company intends to attain
strategic goals
- tends to be long term and may define organizational action steps from two to five years in the
future
Tactical Goals - ANSWER the results that major divisions and departments within the
organization intend to achieve
- apply to middle management and describe what major subunits must do for the organization
to achieve its overall goals
Tactical Plans - ANSWER designed to help execute the major strategic plans and to accomplish a
specific part of the company's strategy
