9 Questions
What is the purpose of setting goals in an organization?
Provide direction and performance evaluation criteria
What is the difference between traditional goal setting and Management By Objectives (MBO)?
Traditional goal setting sets broad goals from the top down, while MBO involves setting specific goals collaboratively.
What are the key elements of Management By Objectives (MBO)?
Goal specificity, participative decision making, explicit performance/evaluation period, feedback
What is a potential problem with MBO programs?
Overemphasis on individual accomplishment may create problems with teamwork
What are the characteristics of well-designed goals?
Written in terms of outcomes, measurable, clear time frame, challenging yet attainable, written down, communicated to all necessary members
What are the steps in goal setting according to the text?
Review mission statement, evaluate resources, determine goals, write down and communicate goals, review results
What are the two main types of planning described in the text?
The two main types of planning described in the text are informal planning and formal planning.
What are the four main purposes of planning described in the text?
The four main purposes of planning described in the text are: 1) Providing direction, 2) Reducing uncertainty, 3) Minimizing waste and redundancy, and 4) Setting the standards for controlling.
What is the relationship between formal planning and organizational performance described in the text?
The text states that formal planning is associated with higher profits, higher returns on assets, and other positive financial results. However, the quality of planning and implementation affects performance more than the extent of planning, and the external environment can reduce the impact of planning on performance. Formal planning must also be used for several years before it begins to affect performance.
Learn about defining goals, formal and informal planning, traditional goal setting, management by objectives (MBO), characteristics of well-designed goals, setting goals, types of plans, contingency factors in planning, and criticisms of planning.
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