Corporate Relevant Management Glossary.pptx

Management Glossary

1. Glosaary

2. Organization Organization : A group of people who work together in a structured way for a shared purpose, often to achieve business objectives. Mission Statement : A concise explanation of the organization's reason for existence, its purpose, and its overall intention. It supports the vision and serves to communicate purpose and direction to employees, customers, vendors, and other stakeholders. Vision Statement : An aspirational description of what an organization aims to achieve or accomplish in the long-term future. It serves as a clear guide for choosing current and future courses of action. Goals : Broad, long-term aims that define the desired outcome or state an organization seeks to achieve. They provide direction and a sense of purpose. Aims : General statements of desired achievement that guide the development of specific objectives. They are similar to goals but are often more abstract and long-term.

3. Objectives : Specific, measurable steps that an organization plans to take to achieve its goals. Objectives are often short-term and have a set timeframe. Plans : Detailed proposals for doing or achieving something. In management, plans typically outline the steps necessary to achieve organizational goals and objectives. Strategies : The overall plans or set of actions aimed at achieving long-term goals and securing a competitive advantage. Strategies often involve resource allocation, prioritizing activities, and determining the direction to be taken.

4. Programs : Coordinated efforts involving multiple projects or activities aimed at achieving a particular organizational objective or set of objectives. Programs are usually broader in scope than individual projects. Projects : Temporary endeavors undertaken to create a unique product, service, or result. Projects have specific objectives, a defined scope, and a set timeline for completion. Key Characteristics : Distinctive attributes or features that define an organization or its processes, products, and services. These can include innovation, quality, customer focus, and operational efficiency. Values : Core beliefs or standards that guide the behavior and decision-making processes within an organization. Values are fundamental to the organizational culture and often include principles such as integrity, excellence, and respect for people.

5. Summary of Differences Mission : forever Vision : Future and long-term. Objectives : Short-term with specific timelines. Aims : Long-term and broad. Purpose : Mission : Defines the organization’s purpose and approach. Vision : Describes the desired future state of the organization. Objectives : Provides specific, measurable steps to achieve goals. Aims : Broad goals that guide the development of specific objectives. Nature : Mission : Concrete and action-oriented. Vision : Inspirational and aspirational. Objectives : Specific and measurable. Aims : General and broad.