51 Questions
Which dimension of plans refers to the level of the organization at which the plan is directed?
Level
What does MBO stand for in the context of management?
Management by Objectives
What is a potential disadvantage of MBO?
Inflexibility when the environment changes
Which type in the Miles and Snow Typology is typically involved in a high growth innovative industry and continually looks for new opportunities and markets?
Prospector
What does SWOT stand for in the context of business analysis?
Strengths, Weaknesses, Opportunities, Threats
What is the main focus of Operational Planning?
Day-to-day functions and immediate action
What is one technique for improving the planning process at a business level?
SWOT Analysis
What is one potential disadvantage of Management by Objectives (MBO)?
Goal incompatibility between different units
Which type in the Miles and Snow Typology maintains growth levels by protecting current territory and keeping current customers well served?
Defender
What is the main objective of planning?
To bridge the gap between current and desired state
Which type of planning involves interpretation of strategic plans?
Tactical planning
What is the time orientation of tactical planning?
Medium term
Which type of risk is concerned with day-to-day operations?
Operational risk
What is the time horizon for strategic planning?
>5 years
Which type of risk relates to the potential for financial loss or loss of reputation?
Reputational Risk
What is the primary focus of tactical planning?
Interpretation of strategic plans
Which type of planning takes place at the top level of an organization?
Strategic planning
What does operational risk primarily deal with?
Day-to-day operational challenges
What is the purpose of reducing risk and uncertainty in an organization's operations?
To achieve long-term objectives
What is the primary focus of Management by Objectives (MBO)?
Improving the performance of an organization by defining clear objectives agreed to by both management and employees
What is one potential disadvantage of Management by Objectives (MBO)?
Capacity for goal incompatibility between different units
Which type in the Miles and Snow Typology is typically involved in a high growth innovative industry and continually looks for new opportunities and markets?
Prospector
What does SWOT stand for in the context of business analysis?
Strengths, Weaknesses, Opportunities, Threats
Which type of risk is concerned with day-to-day operations?
Operational risk
What is the time horizon for strategic planning?
Long term
Which type of planning takes place at the top level of an organization?
Strategic planning
Which dimension of plans refers to the level of the organization at which the plan is directed?
Level
What is one technique for improving the planning process at a business level?
SWOT Analysis
What is one potential disadvantage of MBO?
Agreement on objectives can cause inflexibility when the environment changes
What is the primary focus of strategic planning?
Long term objectives and mission
What is the main purpose of tactical planning?
Dealing with ongoing operations
Which type of risk is concerned with adherence to laws and regulations?
Compliance Risk
What is the time orientation of tactical planning?
<5 years
Which type in the Miles and Snow Typology seeks continuous innovation and new opportunities?
Prospector
What does SWOT stand for in the context of business analysis?
Strengths, Weaknesses, Opportunities, Threats
What is the primary purpose of planning in management?
To bridge the gap between current and desired state
What is the primary focus of tactical planning?
Interpretation of strategic plans
Which type of risk is concerned with maintaining growth levels by protecting current territory and customers?
Strategic Risk
What is the time orientation of strategic planning?
Long term (>5 years)
Which type in the Miles and Snow Typology seeks continuous innovation and new opportunities?
Prospector
What does SWOT stand for in the context of business analysis?
Strengths, Weaknesses, Opportunities, Threats
Which type of risk relates to potential financial loss or loss of reputation?
Reputational Risk
What is the main objective of operational planning?
Ensuring day-to-day operational efficiency
What is one potential disadvantage of Management by Objectives (MBO)?
Lack of clarity in goal setting
Which type in the Miles and Snow Typology maintains growth levels by protecting current territory and keeping current customers well served?
Defender
What is the primary focus of operational planning?
Short term planning of day to day functions
What does MBO stand for in the context of management?
Management by Objectives
Which type in the Miles and Snow Typology maintains growth levels by protecting current territory and keeping current customers well served?
Defender
What is one potential disadvantage of Management by Objectives (MBO)?
Capacity for goal incompatibility between different units
What is one technique for improving the planning process at a business level?
SWOT Analysis
Which type of risk relates to the potential for financial loss or loss of reputation?
Financial risk
Test your knowledge on the fundamental function of management - planning. Learn about the process of developing action programs to reach business objectives and bridging the gap between current and desired organization status.
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