MGT 8803 Strategy exam with correct ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
answers
Planning
Defines goals, establishes strategies to achieve goals, and develops plans to integrate and
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
coordinate activities ||\\||\\
Types of plans ||\\||\\ ||\\||\\
strategic, tactical, operational ||\\||\\ ||\\||\\
Organizing and Staffing ||\\||\\ ||\\||\\
Determine what tasks are to be done, who is to do them, how the tasks are to be grouped,
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
who reports whom, and where decisions are to be made
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Also recruits, selects, trains, and evaluates performance
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Leading
Motivates employees, directs the activities of others, selects the most effective
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
communication channel, and resolves conflicts ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Controlling
Monitors performance, compares it with goals, and corrects any significant deviations
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Hierarchy of plans ||\\||\\ ||\\||\\
Planning flows in a top-down sequence from overall vision to more specific detailed level of
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
plans
Strategic plans ||\\||\\
Broadly guide and position the firm relative to the competition
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
(e.g. corporate, business unit, and functional plans)
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Functional plans ||\\||\\
Align the goals and direct the strategic activities of the operating units
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
,Operational plans ||\\||\\
Specify the details of how the operational goals will be achieved
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
(e.g. budgets and schedules)
||\\||\\ ||\\||\\ ||\\||\\
Internal environment ||\\||\\
The firm's organizational structure; the firm's vision, mission, values, and culture; the firm's
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
people (their knowledge and abilities); processes; technology; and the other assets of the
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
firm - physical assets and intellectual property
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
External environment ||\\||\\
Larger general environment of macro forces like economic cycles, technological changes,
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
social and demographic changes; and environmental
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
factors specific to the firm's industry and markets ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Why Planning is Important
||\\||\\ ||\\||\\ ||\\||\\
Provides direction and a basis for coordination for everyone in the organization. Helps
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
minimize waste and redundancy ||\\||\\ ||\\||\\ ||\\||\\
Reduces uncertainty by developing a better understanding of the firm's external environment
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Establishes goals from broad firm-wide objectives to individual productivity standards
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Involves and engages all levels of the organization (results: higher job satisfaction)
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Residual uncertainty ||\\||\\
Uncertainty that remains after optimal analysis has been done ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Hierarchical (tall) organizational structure ||\\||\\ ||\\||\\ ||\\||\\
Numerous layers of middle management in a tall (hierarchical) organizational structure, and ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
often inefficient bureaucracies. ||\\||\\ ||\\||\\
Senior Managers make most operational decisions, and authority must be gained from
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
several layers up before taking action. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Information flows are generally from the top down. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Works well in stable environment with little variability.
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Flat (networked) organizational structure
||\\||\\ ||\\||\\ ||\\||\\
Front-line employees are empowered to make a range of decisions. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Information flows from the top down and from the bottom up in a flat structure. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Few levels of middle management.
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Decentralized decision-making and planning critical in dynamic environments. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Types of managers ||\\||\\ ||\\||\\
, Senior or top managers, middle managers, supervisors, and team leaders
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Strategic plans ||\\||\\
Broadly impacts the firm ||\\||\\ ||\\||\\ ||\\||\\
Determines New Markets to enter or Existing Markets to leave ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Concerns the overall scope of the firm ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Identifies initiative to create and sustain competitive advantage ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Driven by management's vision, mission, and values ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Covers extended planning horizons ||\\||\\ ||\\||\\ ||\\||\\
Functional structure ||\\||\\
An organizational structure composed of all the departments that an organization requires to
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
produce its goods or services
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Divisional structure ||\\||\\
An organizational structure composed of separate business units within which are the
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
functions that work together to produce a specific product for a specific customer ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Functional plans ||\\||\\
Aligned to Business Unit Level Planning ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Are highly interrelated across the SBU
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Have shorter planning horizons than Corporate and SBU plans but typically extend beyond
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
the upcoming fiscal year
||\\||\\ ||\\||\\ ||\\||\\
Drive Budget Development and Staffing Plans
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
e.g. Marketing Plans, Production Plans, Capacity Plans
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Specifically relate to disciplinary areas of business unit (e.g. marketing, supply chain ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
management, etc.) ||\\||\\
Tactical/operational plans ||\\||\\
Narrow, specific impact the firm ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Allocation of specific resources to specific tasks or operations ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Short planning horizons (timeframes) ||\\||\\ ||\\||\\ ||\\||\\
e.g. Financial Budgets, Production Schedules, Staffing Schedules, Project Work Plans, etc.
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Michael Porter ||\\||\\
Has a more deliberate, methodical approach to strategy
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Henry Mintzberg ||\\||\\
answers
Planning
Defines goals, establishes strategies to achieve goals, and develops plans to integrate and
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
coordinate activities ||\\||\\
Types of plans ||\\||\\ ||\\||\\
strategic, tactical, operational ||\\||\\ ||\\||\\
Organizing and Staffing ||\\||\\ ||\\||\\
Determine what tasks are to be done, who is to do them, how the tasks are to be grouped,
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
who reports whom, and where decisions are to be made
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Also recruits, selects, trains, and evaluates performance
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Leading
Motivates employees, directs the activities of others, selects the most effective
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
communication channel, and resolves conflicts ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Controlling
Monitors performance, compares it with goals, and corrects any significant deviations
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Hierarchy of plans ||\\||\\ ||\\||\\
Planning flows in a top-down sequence from overall vision to more specific detailed level of
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
plans
Strategic plans ||\\||\\
Broadly guide and position the firm relative to the competition
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
(e.g. corporate, business unit, and functional plans)
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Functional plans ||\\||\\
Align the goals and direct the strategic activities of the operating units
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
,Operational plans ||\\||\\
Specify the details of how the operational goals will be achieved
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
(e.g. budgets and schedules)
||\\||\\ ||\\||\\ ||\\||\\
Internal environment ||\\||\\
The firm's organizational structure; the firm's vision, mission, values, and culture; the firm's
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
people (their knowledge and abilities); processes; technology; and the other assets of the
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
firm - physical assets and intellectual property
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
External environment ||\\||\\
Larger general environment of macro forces like economic cycles, technological changes,
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
social and demographic changes; and environmental
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
factors specific to the firm's industry and markets ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Why Planning is Important
||\\||\\ ||\\||\\ ||\\||\\
Provides direction and a basis for coordination for everyone in the organization. Helps
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
minimize waste and redundancy ||\\||\\ ||\\||\\ ||\\||\\
Reduces uncertainty by developing a better understanding of the firm's external environment
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Establishes goals from broad firm-wide objectives to individual productivity standards
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Involves and engages all levels of the organization (results: higher job satisfaction)
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Residual uncertainty ||\\||\\
Uncertainty that remains after optimal analysis has been done ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Hierarchical (tall) organizational structure ||\\||\\ ||\\||\\ ||\\||\\
Numerous layers of middle management in a tall (hierarchical) organizational structure, and ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
often inefficient bureaucracies. ||\\||\\ ||\\||\\
Senior Managers make most operational decisions, and authority must be gained from
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
several layers up before taking action. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Information flows are generally from the top down. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Works well in stable environment with little variability.
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Flat (networked) organizational structure
||\\||\\ ||\\||\\ ||\\||\\
Front-line employees are empowered to make a range of decisions. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Information flows from the top down and from the bottom up in a flat structure. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Few levels of middle management.
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Decentralized decision-making and planning critical in dynamic environments. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Types of managers ||\\||\\ ||\\||\\
, Senior or top managers, middle managers, supervisors, and team leaders
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Strategic plans ||\\||\\
Broadly impacts the firm ||\\||\\ ||\\||\\ ||\\||\\
Determines New Markets to enter or Existing Markets to leave ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Concerns the overall scope of the firm ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Identifies initiative to create and sustain competitive advantage ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Driven by management's vision, mission, and values ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Covers extended planning horizons ||\\||\\ ||\\||\\ ||\\||\\
Functional structure ||\\||\\
An organizational structure composed of all the departments that an organization requires to
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
produce its goods or services
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Divisional structure ||\\||\\
An organizational structure composed of separate business units within which are the
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
functions that work together to produce a specific product for a specific customer ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Functional plans ||\\||\\
Aligned to Business Unit Level Planning ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Are highly interrelated across the SBU
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Have shorter planning horizons than Corporate and SBU plans but typically extend beyond
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
the upcoming fiscal year
||\\||\\ ||\\||\\ ||\\||\\
Drive Budget Development and Staffing Plans
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
e.g. Marketing Plans, Production Plans, Capacity Plans
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Specifically relate to disciplinary areas of business unit (e.g. marketing, supply chain ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
management, etc.) ||\\||\\
Tactical/operational plans ||\\||\\
Narrow, specific impact the firm ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Allocation of specific resources to specific tasks or operations ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Short planning horizons (timeframes) ||\\||\\ ||\\||\\ ||\\||\\
e.g. Financial Budgets, Production Schedules, Staffing Schedules, Project Work Plans, etc.
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Michael Porter ||\\||\\
Has a more deliberate, methodical approach to strategy
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Henry Mintzberg ||\\||\\
