Fundamentals of Planning in Management

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App

Questions and Answers

Which dimension of plans refers to the level of the organization at which the plan is directed?

  • Scope
  • Time
  • Repetitiveness
  • Level (correct)

What does MBO stand for in the context of management?

  • Modeling Business Objectives
  • Mastering Business Operations
  • Managing Business Operations
  • Management by Objectives (correct)

What is a potential disadvantage of MBO?

  • Simplified employee appraisal
  • Clear understanding of goals by employees
  • Inflexibility when the environment changes (correct)
  • Improved employee motivation

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?

<p>Prospector (C)</p> Signup and view all the answers

What does SWOT stand for in the context of business analysis?

<p>Strengths, Weaknesses, Opportunities, Threats (A)</p> Signup and view all the answers

What is the main focus of Operational Planning?

<p>Day-to-day functions and immediate action (C)</p> Signup and view all the answers

What is one technique for improving the planning process at a business level?

<p>SWOT Analysis (A)</p> Signup and view all the answers

What is one potential disadvantage of Management by Objectives (MBO)?

<p>Goal incompatibility between different units (C)</p> Signup and view all the answers

Which type in the Miles and Snow Typology maintains growth levels by protecting current territory and keeping current customers well served?

<p>Defender (C)</p> Signup and view all the answers

What is the main objective of planning?

<p>To bridge the gap between current and desired state (B)</p> Signup and view all the answers

Which type of planning involves interpretation of strategic plans?

<p>Tactical planning (B)</p> Signup and view all the answers

What is the time orientation of tactical planning?

<p>Medium term (A)</p> Signup and view all the answers

Which type of risk is concerned with day-to-day operations?

<p>Operational risk (A)</p> Signup and view all the answers

What is the time horizon for strategic planning?

<p>&gt;5 years (D)</p> Signup and view all the answers

Which type of risk relates to the potential for financial loss or loss of reputation?

<p>Reputational Risk (D)</p> Signup and view all the answers

What is the primary focus of tactical planning?

<p>Interpretation of strategic plans (A)</p> Signup and view all the answers

Which type of planning takes place at the top level of an organization?

<p>Strategic planning (A)</p> Signup and view all the answers

What does operational risk primarily deal with?

<p>Day-to-day operational challenges (A)</p> Signup and view all the answers

What is the purpose of reducing risk and uncertainty in an organization's operations?

<p>To achieve long-term objectives (D)</p> Signup and view all the answers

What is the primary focus of Management by Objectives (MBO)?

<p>Improving the performance of an organization by defining clear objectives agreed to by both management and employees (B)</p> Signup and view all the answers

What is one potential disadvantage of Management by Objectives (MBO)?

<p>Capacity for goal incompatibility between different units (D)</p> Signup and view all the answers

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?

<p>Prospector (B)</p> Signup and view all the answers

What does SWOT stand for in the context of business analysis?

<p>Strengths, Weaknesses, Opportunities, Threats (A)</p> Signup and view all the answers

Which type of risk is concerned with day-to-day operations?

<p>Operational risk (D)</p> Signup and view all the answers

What is the time horizon for strategic planning?

<p>Long term (A)</p> Signup and view all the answers

Which type of planning takes place at the top level of an organization?

<p>Strategic planning (A)</p> Signup and view all the answers

Which dimension of plans refers to the level of the organization at which the plan is directed?

<p>Level (A)</p> Signup and view all the answers

What is one technique for improving the planning process at a business level?

<p>SWOT Analysis (A)</p> Signup and view all the answers

What is one potential disadvantage of MBO?

<p>Agreement on objectives can cause inflexibility when the environment changes (A)</p> Signup and view all the answers

What is the primary focus of strategic planning?

<p>Long term objectives and mission (C)</p> Signup and view all the answers

What is the main purpose of tactical planning?

<p>Dealing with ongoing operations (B)</p> Signup and view all the answers

Which type of risk is concerned with adherence to laws and regulations?

<p>Compliance Risk (C)</p> Signup and view all the answers

What is the time orientation of tactical planning?

<p>&lt;5 years (B)</p> Signup and view all the answers

Which type in the Miles and Snow Typology seeks continuous innovation and new opportunities?

<p>Prospector (B)</p> Signup and view all the answers

What does SWOT stand for in the context of business analysis?

<p>Strengths, Weaknesses, Opportunities, Threats (B)</p> Signup and view all the answers

What is the primary purpose of planning in management?

<p>To bridge the gap between current and desired state (D)</p> Signup and view all the answers

What is the primary focus of tactical planning?

<p>Interpretation of strategic plans (A)</p> Signup and view all the answers

Which type of risk is concerned with maintaining growth levels by protecting current territory and customers?

<p>Strategic Risk (C)</p> Signup and view all the answers

What is the time orientation of strategic planning?

<p>Long term (&gt;5 years) (B)</p> Signup and view all the answers

Which type in the Miles and Snow Typology seeks continuous innovation and new opportunities?

<p>Prospector (C)</p> Signup and view all the answers

What does SWOT stand for in the context of business analysis?

<p>Strengths, Weaknesses, Opportunities, Threats (C)</p> Signup and view all the answers

Which type of risk relates to potential financial loss or loss of reputation?

<p>Reputational Risk (A)</p> Signup and view all the answers

What is the main objective of operational planning?

<p>Ensuring day-to-day operational efficiency (A)</p> Signup and view all the answers

What is one potential disadvantage of Management by Objectives (MBO)?

<p>Lack of clarity in goal setting (D)</p> Signup and view all the answers

Which type in the Miles and Snow Typology maintains growth levels by protecting current territory and keeping current customers well served?

<p>Defender (D)</p> Signup and view all the answers

What is the primary focus of operational planning?

<p>Short term planning of day to day functions (D)</p> Signup and view all the answers

What does MBO stand for in the context of management?

<p>Management by Objectives (B)</p> Signup and view all the answers

Which type in the Miles and Snow Typology maintains growth levels by protecting current territory and keeping current customers well served?

<p>Defender (B)</p> Signup and view all the answers

What is one potential disadvantage of Management by Objectives (MBO)?

<p>Capacity for goal incompatibility between different units (D)</p> Signup and view all the answers

What is one technique for improving the planning process at a business level?

<p>SWOT Analysis (A)</p> Signup and view all the answers

Which type of risk relates to the potential for financial loss or loss of reputation?

<p>Financial risk (A)</p> Signup and view all the answers

Flashcards are hidden until you start studying

More Like This

Use Quizgecko on...
Browser
Browser