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Questions and Answers
What are derivative plans?
What are derivative plans?
What is the purpose of measuring and controlling the process?
What is the purpose of measuring and controlling the process?
What does the process of organizing involve?
What does the process of organizing involve?
What is an organization structure?
What is an organization structure?
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What should be the nature of a good organization structure?
What should be the nature of a good organization structure?
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What is the primary purpose of strategic planning?
What is the primary purpose of strategic planning?
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What is the role of policies in an organization?
What is the role of policies in an organization?
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What is the purpose of procedures in an organization?
What is the purpose of procedures in an organization?
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What is the role of programs in an organization?
What is the role of programs in an organization?
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What is the importance of evaluating programs?
What is the importance of evaluating programs?
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Study Notes
Planning Process
- Planning involves setting objectives, identifying alternatives, evaluating and selecting the best course of action, and developing derivative/supportive plans.
- The planning process consists of deciding the planning period, identifying alternatives, evaluating and selecting alternatives, and developing derivative/supportive plans.
- Deciding the planning period involves determining the timeframe for the plan, which can range from a year to decades.
Evaluation and Selection of Alternatives
- Evaluation of alternatives involves determining which course of action is most suitable for achieving goals and objectives.
- This is done using quantitative techniques, operations research, and software packages.
Developing Derivative/Supportive Plans
- After selecting the best plan, various derivative/supportive plans are developed to support the main plan.
- These plans may include buying equipment, buying raw materials, etc.
Organizing
- Organizing involves identifying and grouping activities, dividing them among individuals, and creating authority and responsibility relationships.
- Organizing consists of departmentalization, linking of departments, defining authority and responsibility, and prescribing authority relationships.
Organization Structure
- An organization structure shows the authority and responsibility relationships between positions in the organization.
- It is a set of planned relationships between groups of related functions and between physical factors and personnel required for achieving organizational goals.
- A good organization structure should be dynamic and subject to change in response to changes in the business environment.
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Description
This quiz covers topics related to the evaluation and selection of alternatives in the business decision-making process. It includes aspects like using quantitative techniques, operations research methods, and software packages to assess various options.
