Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is an example of an aid to planning and decision making?
What is an example of an aid to planning and decision making?
- Relying solely on intuition and gut feeling
- Micromanagement and constant oversight
- Data analytics and forecasting tools (correct)
- Ignoring feedback from employees
What is the basis of organizing within an organization?
What is the basis of organizing within an organization?
- Avoiding any form of structure to promote flexibility
- Implementing a rigid and unchanging organizational structure
- Ignoring the need for departmentation and delegation of authority
- Specialization, chain of command, and span of control (correct)
What is the significance of planning in management?
What is the significance of planning in management?
- It restricts flexibility and innovation within the organization.
- It eliminates the need for decision making.
- It ensures that all employees are closely supervised.
- It provides a sense of direction and reduces uncertainty about the future. (correct)
Flashcards are hidden until you start studying
Study Notes
Planning and Decision Making
- An example of an aid to planning and decision making is a budget, which provides a financial framework for achieving organizational objectives.
Organizing within an Organization
- The basis of organizing within an organization is the assignment of tasks and the allocation of resources to achieve specific objectives.
Significance of Planning in Management
- Planning is essential in management as it enables setting of clear objectives, identification of alternative courses of action, and selection of the best option.
- Planning helps to reduce uncertainty, increase efficiency, and improve productivity by allocating resources effectively.
- Effective planning enables managers to anticipate and respond to changes in the internal and external environment.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
