A business plan is a comprehensive guide that outlines a company's goals, strategies, and financial projections, essential for both new ventures and established businesses seeking capital or strategic direction.
A decision model is a mathematical simulation of the variables and elements inherent in business decisions, aimed at achieving the objectives of an organization by analyzing the relationships and constraints among those variables.
An individual or organizational objective target to be achieved within a particular time period. Organizational goals, for example, may include becoming number one in market share of a particular product within a specified timeframe.
Goal setting involves establishing steps to meet the objectives of an individual or a firm. For instance, to achieve a 10% increase in sales, a company may increase each salesperson's quota by $10,000.
Managing involves administering an organization's activities to achieve particular objectives. It includes planning, organizing, leading, and controlling resources.
An organization is a structured entity comprising roles and responsibilities designed to achieve predetermined objectives. Organizations encompass a wide range of areas, including private businesses, government agencies, non-profits, and more. In the twentieth century, organizations have expanded significantly in size and scope, adapting to the complex demands of modern economies and society.
