Management Principles and Types

The process of setting goals and defining strategies for how to achieve them. It involves considering the organization's internal and external environment to make informed decisions about the future.

The process of arranging resources, tasks, and people in a structured way to achieve defined goals. It involves structuring roles and responsibilities and ensuring efficient allocation of resources.

The process of exchanging information and ideas with stakeholders, including employees, customers, and investors. It involves communication that informs, educates, guides, and motivates individuals toward organizational goals.

Active monitoring of processes and performance to ensure that the organization is effectively moving towards its planned goals. This includes evaluating progress, identifying deviations, and taking corrective actions.

Different specialized departments within an organization, such as marketing, finance, operations, or human resources, each with specific responsibilities and expertise.

Different levels of authority and responsibility within an organization, such as top management, middle management, and supervisory management. Each level has specific functions and perspectives on the organization.

The process of setting goals and creating a plan to achieve them.

The overall direction an organization aims to take, addressing the "where" in planning.

The detailed steps and actions taken to achieve specific goals, answering the "how" in planning.

Goals are categorized by their scope and timeframe, creating a hierarchy from broad visions to specific tasks.

Strategies and goals are constantly reviewed, adjusted, and sometimes even changed based on changing internal or external conditions.

Goals should be Specific, Measurable, Achievable, Relevant, and Time-bound, making them clear and actionable.

It's a common human tendency to set goals but often fail to achieve them due to unclear definitions and lack of focus.

We set ourselves multiple goals throughout the day, sometimes unconsciously.

A goal is considered specific when it is formulated with such clarity that different individuals interpret its content identically.

A goal is measurable if, after its deadline, it can be objectively determined whether or not the goal has been achieved. This often goes hand-in-hand with 'specific'.

A goal is achievable if the individuals involved believe that with adequate resources, the goal can be reached, even if it requires significant effort.

A goal is relevant if it contributes to reaching one or more higher-level goals within an organization's overall goal hierarchy.

A goal is time-bound if it includes a specific deadline by which it should be achieved.

A SMART goal is a goal that meets the criteria of being specific, measurable, achievable, relevant, and time-bound.

The practice of setting goals regularly doesn't necessarily imply that goals are set effectively.

A goal hierarchy refers to the structured organization of goals, with higher-level goals cascading down to more specific, lower-level goals.

To maximize the probability of achieving goals, individuals and organizations should focus on formulating them as specifically as possible and always including a deadline.

The SMART goal framework provides a useful structure for establishing goals that are more likely to be achieved.

A strategic plan encompassing a multilevel hierarchy, including corporate, business, functional, and operational levels. It provides a comprehensive framework for achieving organizational goals.

An overarching strategy that guides a group's actions, considering the goals and resources of its constituent companies.

An individual company or unit's strategy that aligns with the corporate strategy (if applicable) and outlines actionable steps for achieving their specific goals.

A detailed plan adopted by a company department, designed to achieve specific goals and integrate with its overall business strategy.

The lowest level of strategic planning, focusing on specific tasks and day-to-day activities within a department to achieve their functional goals.

A document that details the steps, timeline, and resources required to achieve a specific goal. It provides a roadmap for implementing organizational strategies.