Management Ch. 4 Planning and Organizing

Define business plan: a written document that describes the ______ __ ___ _______, its goals and objectives, and how they will be achieved.

(a)  

Strategic planning is a short-term planning that identifies specific activities for each area of the business

Operational planning is a long-term planning that provides broad goals and directions for the entire business.

SWOT analysis is an examination of an organization's internal Strengths and Weaknesses as well as external Opportunities and Threats.

Mission: a short, specific statement of the business's _______ and direction.

Vision: a broad, lasting, and often _____________ view of a company's reason for existing.

Failure to properly plan leads to high success.

SWOT Analysis, SWOT stands for Strengths, Weaknesses, Opportunities, and what?

Operational planning determines ___ work will be done, ___ will do it, and ___ resources will be needed to get the work done in each area of the business.

A goal is a specific statement of a result the business expects to achieve.