Management Planning Concepts Quiz

<p>To define the organization’s goals and strategies (D)</p> Signup and view all the answers

<p>Short-Term Plans (C)</p> Signup and view all the answers

<p>Formal planning involves written, specific, and long-term focus. (D)</p> Signup and view all the answers

<p>Sets standards for controlling (C)</p> Signup and view all the answers

<p>The connection between overall goals and specific actions needed to achieve them. (C)</p> Signup and view all the answers

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

<p>Operational plans specify details for achieving overall goals. (C)</p> Signup and view all the answers

<p>To understand discrepancies that may affect performance. (A)</p> Signup and view all the answers

<p>Higher levels of formal planning correlate with positive financial results (C)</p> Signup and view all the answers

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

<p>To provide direction and serve as performance evaluation criteria (D)</p> Signup and view all the answers

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

<p>Long-Term Plans (B)</p> Signup and view all the answers

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

<p>It can create rigid frameworks limiting creativity. (A)</p> Signup and view all the answers

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

<p>They are broad statements intended for public consumption that may not reflect real objectives. (A)</p> Signup and view all the answers

<p>Dynamic changes in the external environment (B)</p> Signup and view all the answers

<p>It can diminish the positive effects of planning on performance. (B)</p> Signup and view all the answers

<p>The quality of planning and implementation (B)</p> Signup and view all the answers

<p>Improved identification and development of talent (A)</p> Signup and view all the answers

<p>To guide and constrain lower-level managers from above (D)</p> Signup and view all the answers

<p>The hierarchy of goals where lower-level goals support higher-level goals (B)</p> Signup and view all the answers

<p>Goal specificity and participative decision making are emphasized (A)</p> Signup and view all the answers

<p>Specific action plans are defined and agreed upon (D)</p> Signup and view all the answers

<p>It may cause goals to lose clarity as they are interpreted at different levels (D)</p> Signup and view all the answers

<p>Based on progress toward achieving established objectives (C)</p> Signup and view all the answers

<p>The organization’s overall objectives and strategies are formulated (A)</p> Signup and view all the answers

<p>Clearly defining measurable objectives (A)</p> Signup and view all the answers

<p>Goals should be challenging yet attainable. (A)</p> Signup and view all the answers

<p>Create a marketing plan. (C)</p> Signup and view all the answers

<p>Diminished teamwork. (C)</p> Signup and view all the answers

<p>Company culture. (B)</p> Signup and view all the answers

<p>Benefits from specific plans. (B)</p> Signup and view all the answers

<p>To make goals visible and ensure alignment. (B)</p> Signup and view all the answers

<p>Loss of focus on meaningful goal achievement. (D)</p> Signup and view all the answers

<p>To clearly define how outcomes are to be measured. (C)</p> Signup and view all the answers

<p>Planning may focus too much on current competition rather than future survival. (C)</p> Signup and view all the answers

<p>Adjust plans when conditions change. (D)</p> Signup and view all the answers

<p>It can completely replace the need for intuition. (A)</p> Signup and view all the answers

<p>They assist managers in the planning process without taking full responsibility. (B)</p> Signup and view all the answers

<p>By flattening the organizational hierarchy. (B)</p> Signup and view all the answers

<p>Planning requires full organizational commitment for success. (C)</p> Signup and view all the answers

<p>They may create rigidity and hinder adaptability. (C)</p> Signup and view all the answers

<p>Single-use plans (A)</p> Signup and view all the answers

A fundamental management activity that involves defining goals, establishing a strategy for achieving those goals, and developing plans for organizational actions.

Planning that is not formally documented, often short-term and specific to a particular unit within the organization.

Planning that's written down, detailed, and often long-term, encompassing shared goals for the entire organization.

Planning helps clarify organizational goals, provides a roadmap for action, and allows for better coordination and resource allocation.

Explicit statements of what an organization wants to accomplish, often written down and widely communicated.

The real goals that organizational members are actually pursuing, even if they are not explicitly stated.

A comprehensive plan that outlines the organization's long-term direction and strategic initiatives.

Plans that focus on specific actions, departments, or projects, with a shorter timeframe than strategic plans.

The desired outcomes for individuals, groups, or entire organizations.

Documents outlining how goals are to be achieved.

Related to expected internal financial performance.

Concerned with how the firm performs relative to external factors like competitors.

Planning helps minimize waste and redundancy by clarifying priorities and resources.

Planning provides guidance and direction by setting clear objectives and strategies.

Plans with a time frame exceeding three years, aiming for long-term achievements.

Plans covering a period of one year or less, focusing on immediate actions.

Clearly defined plans that leave no room for interpretation.

Flexible plans providing general guidelines and focus while allowing for adaptation during implementation.

Plans created for a unique situation and are not intended for repeated use.

On-going plans providing guidance for activities performed repeatedly, like policies or standard operating procedures.

A hierarchical approach to goal setting, where top management establishes overarching goals that are then broken down into subgoals for each organizational level.

A major limitation of traditional goal setting, where lower-level managers lack clarity and focus when interpreting and defining goals for their areas of responsibility.

An integrated system of goals structured as a hierarchy, where the achievement of lower-level goals serves as the means to reach higher-level goals.

A participative goal-setting approach where employees and managers collaboratively determine specific performance goals.

A key element of MBO that involves establishing clear, measurable goals that are specific and well-defined.

A key element of MBO where employees are actively involved in the goal-setting process, ensuring commitment and ownership.

A crucial element of MBO that includes regular reviews of progress toward goal achievement.

A core component of MBO where employees receive rewards based on their progress towards predetermined goals.

A group of planning specialists who assist managers in creating organizational plans.

A systematic process where organizational members at various levels develop plans and coordinate them across the organization.

Plans that may restrict flexibility due to rigid structures and a fixed approach.

Plans cannot be developed for constantly changing situations, as they may become outdated quickly.

Formal plans cannot replace the intuition and innovative thinking of individuals.

Focuses on current competition and may neglect long-term trends or potential threats to organizational survival.

Plans that are specific but adaptable to changes in circumstances.

Planning as an ongoing process, continually adapting to changing conditions.

When top managers are involved in setting goals, it demonstrates their commitment to the success of the Management by Objectives (MBO) program.

MBO programs can struggle in fast-changing environments where goals need to be adjusted frequently.

Focusing too much on individual accomplishments can hinder teamwork and collaboration in organizations.

Goals should be clear, specific, measurable, and have a defined timeframe. These are the core characteristics of effective goal-setting.

The first step of goal-setting is aligning goals with the organization's overall mission. This ensures that individual goals contribute to the bigger picture.

Managers should evaluate available resources to ensure that they are sufficient to achieve the organization's goals.

Goals should be written down and communicated to all members of the organization to ensure everyone is aware of the plan.

Contingency factors, like the manager's level and the uncertainty of the environment, influence the type of planning needed.