Podcast
Questions and Answers
What is the maximum typical duration for plans developed under Management by Objective?
What is the maximum typical duration for plans developed under Management by Objective?
Who holds the ultimate responsibility for planning within an organization?
Who holds the ultimate responsibility for planning within an organization?
Which factor does NOT influence the planning horizon in an organization?
Which factor does NOT influence the planning horizon in an organization?
What should be included in the plans developed under Management by Objective?
What should be included in the plans developed under Management by Objective?
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As a manager rises higher in an organization, what change occurs regarding their planning responsibilities?
As a manager rises higher in an organization, what change occurs regarding their planning responsibilities?
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What primary outcome should plans lead to, according to planning concepts?
What primary outcome should plans lead to, according to planning concepts?
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Which of the following is NOT a phase in the development of plans according to Management by Objective?
Which of the following is NOT a phase in the development of plans according to Management by Objective?
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Which method is NOT typically classified under qualitative forecasting methods?
Which method is NOT typically classified under qualitative forecasting methods?
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In which scenario is qualitative forecasting most appropriate?
In which scenario is qualitative forecasting most appropriate?
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Which of the following is an example of quantitative information used for forecasting?
Which of the following is an example of quantitative information used for forecasting?
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What is a key characteristic of quantitative forecasting methods?
What is a key characteristic of quantitative forecasting methods?
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Which of the following is NOT an aspect that can be forecasted?
Which of the following is NOT an aspect that can be forecasted?
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Which forecasting method involves collective expert opinions to reach consensus?
Which forecasting method involves collective expert opinions to reach consensus?
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What type of forecasting would be used for predicting future training needs?
What type of forecasting would be used for predicting future training needs?
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Which quantitative forecasting technique accounts for trends in data over time?
Which quantitative forecasting technique accounts for trends in data over time?
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What is a common pitfall when relying solely on qualitative forecasting methods?
What is a common pitfall when relying solely on qualitative forecasting methods?
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Which of the following is essential for effective quantitative forecasting?
Which of the following is essential for effective quantitative forecasting?
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What is the primary focus of strategic planning?
What is the primary focus of strategic planning?
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Which of the following labels indicates the initial point in the strategic planning diagram?
Which of the following labels indicates the initial point in the strategic planning diagram?
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What is NOT one of the key areas for establishing objectives in strategic planning?
What is NOT one of the key areas for establishing objectives in strategic planning?
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Which of the following statements about strategic planning is False?
Which of the following statements about strategic planning is False?
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In the context of strategic planning, what does 'Future State' represent?
In the context of strategic planning, what does 'Future State' represent?
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What should decisions in strategic planning primarily be based on?
What should decisions in strategic planning primarily be based on?
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Which of the following areas focuses on employee output in strategic planning?
Which of the following areas focuses on employee output in strategic planning?
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Which area pertains to an organization’s commitment to ethical practices?
Which area pertains to an organization’s commitment to ethical practices?
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How should the 'Physical and Financial Resources' area be approached in strategic planning?
How should the 'Physical and Financial Resources' area be approached in strategic planning?
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Which of these is a necessary step towards achieving the objectives set in strategic planning?
Which of these is a necessary step towards achieving the objectives set in strategic planning?
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Study Notes
Management By Objective (realness)
- Develop work assignments based on organizational needs and goals.
- Plans are agreed between manager and subordinate.
- Needed resources should be determined and agreed to.
- Plans should include employee development as well.
- Plans are for a 6 month to 1 year time span.
Planning Concepts
- Responsibility for planning:
- Planning is the continuing responsibility of each manager.
- The higher managers rise, the more time they spend on planning.
- Ultimate responsibility lies with top and middle management.
- Plans must lead to action.
Planning Horizon
- Shows how far into the future do you want to plan.
- It varies depending on:
- The nature of the business
- The market organization is in
- The required details for the plans
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Description
This quiz focuses on the concepts of Management By Objective and the importance of planning within an organization. It covers the responsibilities of managers at different levels, the significance of aligning plans with organizational goals, and the planning horizon. Test your knowledge on effective planning and management strategies!
