Final answer:
The CEO is describing the management function of planning, which involves setting goals, determining responsibilities, and timelines. Understanding the organizational structure and establishing SMART goals are key components of effective planning. Regular performance evaluations also contribute to the ongoing planning process.
Step-by-step explanation:
The CEO's statement describes the management function known as planning. This involves reviewing and setting goals, allocating responsibilities to achieve those goals, and establishing timelines. This aspect of management ensures that everyone in upper management understands their responsibilities and the actions they must take to align with the organization's strategic objectives.
An understanding of the organization's structure, as indicated by an organizational chart, helps to clarify reporting relationships and areas of accountability. This clarity is essential for establishing and meeting goals. In the planning process, it is also important to establish SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound) and to develop action plans with target dates to track progress.
During performance evaluations, reviewing past goals and setting new ones for the next period is crucial. This ties back into the continuous cycle of planning and adjusting goals as a part of managing an organization efficiently and effectively. The CEO's proactive approach to planning helps in guiding the organization towards its future success by ensuring that all team members are aware of and working towards common objectives.