Long term objectives

Unfortunately in management, it is difficult to find standard definitions for many commonly used terms, yet a common vocabulary and a common understanding are vital to successful communication. The key terms for management are working with and through other people to accomplish the objectives of both the organization and its members.

Management activities include planning, organizing, coordinating, motivating, leading and controlling; getting results effectively through other people by process of delegation. Management system refers to the organization’s structure for managing its processes – or activities – that transform inputs of resources into a product or service which meet the organization’s objectives, such as satisfying the customer’s quality requirements, complying to regulations, or meeting environmental objectives.

In strategic analysis for long term objectives, the framework can be used for examining the “fits” with managerial strategy. These fits fall into seven broad areas: (1) strategy; (2) structure; (3) shared values, attitudes, and philosophy; (4) approach to staffing the organization and its overall “people orientation”; (5) administrative systems, practices, and procedures used to run the organization on a day-to-day basis, including the reward structure, formal and informal policies, budgeting and programs, training and financial control; (6) the organization’s skills, capabilities, and core competencies; and (7) style of management (how they allocate their time and attention), symbolic actions, their leadership skills, the way the top management team comes across to the rest of organization.

Managers should strive to develop and attain a variety of objectives in all areas where activity is critical to the operation and success of the management system.

Now taking example of PetsMart case, and by going through the all available resources of market information, feedbacks and opinions of general public, if we analyze their management, their rating should be as follows.

(1) Strategy                                                               Strong.

(2) Structure                                                              Average.

(3) Shared values                                                       Average.

(4) Approach to staffing the organization                 Strong.

(5) Administrative system                                         Weak.

(6) Core competences                                                Average.

(7) Style of management                                           Average.

Resource:

“Management” By Patrick J. Montana, Bruce H. Charnov, Published 2000 Barron’s Educational Series