WGU C483 Principles of Management | 186 Questions and Answers Complete 100% verified

Top-level Managers - Strategic Managers Middle-level Managers -Tactical Managers Frontline Managers - Operational Managers Goals should be: - S.M.A.R.T. Specific, Measurable, Attainable, Relevant, Time-bound Strategic Planning - Set of procedures for making decisions about an organization's long-term goals and strategies Have a strong external orientation and cover major portions of the organization Senior executives are responsible for the development and execution, although they usually do not formulate or implement the entire plan personally Strategic Goals - Major targets or results that relate to the long-term survival, value, and growth of the organization. Strategic managers usually establish goals that reflect both effectiveness and efficiency Include growth, increasing market share, improving profitability, boosting return on investment, fostering both quantity and quality of outputs, increasing productivity, improving customer service, and contributing to society A strategy - Pattern of actions and resource allocations designed to achieve an organization's goalsWhere will we be active? How will we get there? How will we win in the marketplace? How fast will we make changes? How will we obtain financial returns? Tactical Planning - Set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of an organization. (Marketing and HR)