Management Functions and Planning Concepts

False (B)

To ensure actual performance aligns with expected standards and goals.

<p>organizing</p> Signup and view all the answers

<p>Planning = Defining objectives and the approach to meet them Organizing = Identifying how work should be done Controlling = Regulating activities to meet standards Directing = Enabling organizational members to work efficiently</p> Signup and view all the answers

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

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

<p>The future</p> Signup and view all the answers

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

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

<p>Define the purpose or problem and set objectives</p> Signup and view all the answers

<p>risk</p> Signup and view all the answers

<p>Ignores relevant questions (A)</p> Signup and view all the answers

<p>Strategic Plan = Long-term, overall direction of the organization Tactical Plan = Specific actions to achieve strategic goals Operational Plan = Day-to-day activities and tasks Standing Plan = Established routine for recurring situations</p> Signup and view all the answers

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

<p>To reduce risk by having an alternate plan in reserve</p> Signup and view all the answers

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

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

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

<p>Operational</p> Signup and view all the answers

<p>Long-term = 5 years or more Intermediate = 1 to 5 years Short-term = Less than 1 year</p> Signup and view all the answers

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

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

<p>Operational plans</p> Signup and view all the answers

<p>Tactical</p> Signup and view all the answers

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

<p>Final approval or rejection (A)</p> Signup and view all the answers

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

<p>A plan for how much money is needed</p> Signup and view all the answers

<p>zero</p> Signup and view all the answers

<p>Capital expenditure budget = Specifies money spent on long-term items Expense budget = Includes all activities that a unit plans to spend money on Proposed budget = A plan for how much money is needed Approved budget = Specifies how much money a manager is authorized to spend</p> Signup and view all the answers

<p>Specific, measurable, agreed, realistic and time bound (D)</p> Signup and view all the answers

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

<p>Unanticipated consequences</p> Signup and view all the answers

<p>expense</p> Signup and view all the answers

<p>Zero-based budgeting justifies all allocations while incremental does not (A)</p> Signup and view all the answers

<p>8 (D)</p> Signup and view all the answers

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

<p>few layers of management and a large span of control</p> Signup and view all the answers

<p>narrow</p> Signup and view all the answers

<p>Flat organization = Wider span of control Tall organization = Narrower span of control</p> Signup and view all the answers

<p>The manager's personal preferences for work environment (C)</p> Signup and view all the answers

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

<p>overburdened</p> Signup and view all the answers

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

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

<p>board member</p> Signup and view all the answers

<p>Human Resources</p> Signup and view all the answers

<p>Sales/Marketing = Promoting and selling company products Human Resources = Managing employee lifecycle and relations Production = Manufacturing and assembling goods Research and Development = Creating new products or improving existing ones</p> Signup and view all the answers

<p>VP of Sales/Marketing (D)</p> Signup and view all the answers

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

<p>Chief Executive Officer</p> Signup and view all the answers

<p>Production</p> Signup and view all the answers

<p>Industrial Products = Goods used in manufacturing processes Consumer Products = Goods sold directly to end users</p> Signup and view all the answers

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

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

<p>Product and Regional focus</p> Signup and view all the answers

<p>Sales/Marketing</p> Signup and view all the answers

<p>Sales/Marketing = VP of Sales/Marketing Human Resources = VP of Human Resources Production = VP of Production Research and Development = VP of Research and Development</p> Signup and view all the answers

The process of identifying potential problems and taking corrective actions to address them.

The act of allocating resources like money, equipment, and personnel to achieve organizational goals.

Representing the organization during negotiations, both internally (with employees) and externally (with suppliers, unions, etc.).

The process of planning, organizing, coordinating, controlling, directing, and staffing to achieve organizational goals.

The process of outlining a course of action to achieve desired outcomes.

The process of bringing together and coordinating various elements of a program to ensure its success.

The process of establishing checkpoints to monitor progress and ensure that actual performance aligns with expected organizational standards.

The process of guiding and motivating organizational members to work efficiently towards achieving organizational objectives.

The highest level of an organization, focusing on the overall direction and strategy of the company.

A plan that outlines the broad future of the organization, considering external environmental demands and internal resources.

A specific unit within a company responsible for a distinct product, service, or market segment. Example: "Health Care" within a larger company.

A plan that translates strategic plans into specific goals for specific parts of the organization.

The lowest level of an organization, dealing with specific departments and their day-to-day operations. Example: "Marketing and Sales department".

A plan that translates tactical plans into specific goals and actions for small units of the organization.

Long-term plans that set the overall direction of an organization. They are usually made at the corporate level.

A plan with a time horizon of 5 years or more into the future.

Medium-term plans that detail how to implement the strategic plan. They are usually made at the business level.

A plan with a time horizon of 1 to 5 years into the future.

Short-term plans that focus on the daily operations of a department or team. They are usually made at the functional level.

A plan with a time horizon of less than 1 year into the future.

A plan that outlines alternative actions to be taken in case of unexpected events or changes in the environment.

A plan that has the potential to dramatically impact the fortunes and survival of the organization.

A plan that requires considering the resources and capabilities of the entire organization and its external environments.

A plan that is used repeatedly for routine tasks or situations.

Plans that define resource allocation, priorities, and steps needed to achieve strategic goals.

Plans that implement specific aspects of strategic plans.

Plans that set short-term targets for daily, weekly, or monthly performance.

A visual representation of a project schedule, showing tasks, timelines, and dependencies.

The process of putting a plan into action and ensuring it is carried out effectively.

Tracking the progress of a plan and its implementation, including support and resistance levels.

Adjusting a plan in real-time based on monitoring and feedback.

Examining the outcomes of a plan and identifying any unexpected consequences, both positive and negative.

Unexpected effects that occur as a result of implementing a plan.

A financial plan that allocates funds to specific categories or items.

A budget that specifies the amount of money to be spent on long-term assets like equipment.

A budget that includes all planned spending activities and allocated amounts for a year.

The number of subordinates reporting directly to a supervisor.

A situation where there are few layers of management and a manager oversees a wide range of employees.

An organization structure with many layers of management, where each manager has a smaller number of subordinates.

Focuses on increasing the effectiveness of managers by providing better supervision and guidance to subordinates.

A modern approach favoring flatter organizations, emphasizing less bureaucracy, reduced costs, and empowering employees.

Improved communication channels with less potential for misinterpretation and distortion.

Managers can be overwhelmed by a large span of control, potentially neglecting individual employee guidance.

Modern communication technologies have reduced the limitations of traditional management principles.

A visual representation of an organization's structure, showing the relationships and reporting lines between different positions.

The top decision-making body of an organization, responsible for setting overall strategy and direction.

The highest-ranking executive in a company, responsible for overall leadership and management.

The division within an organization responsible for developing new products, services, or processes.

The department within an organization responsible for the production of goods or services.

The department within an organization responsible for overseeing employee-related matters like hiring, training, and benefits.

The department within an organization responsible for managing the marketing strategy and promoting products or services.

The department within an organization responsible for managing sales and distribution of products or services.

The department within an organization responsible for providing legal advice and guidance.

The overall structure of a company, indicating the hierarchy and relationships between different departments.

The division within an organization responsible for a specific region or geographical area.

A type of product focused on industrial uses.

A type of product intended for consumer use.

An organizational structure with a single, clear line of authority and reporting relationships.