Management Planning Fundamentals Quiz

8 Questions

Thinking in advance about what is to be done, when, how, and by whom

By making assumptions and preparing for the future

Providing directions to employees' efforts

Alternatives uses of available and prospective resources

Requires high thinking and innovative ideas

To set goals and objectives for the organization

Flexibility to adapt to changing circumstances

Time horizon and scope of impact

Study Notes

Planning is defined as "forecasting and preparing for the future" by Henri Fayol.
Planning helps in facing uncertainty by enabling organizations to anticipate and prepare for potential risks and opportunities.
One of the benefits of planning is that it allows organizations to reduce uncertainty and improve their overall performance.
Planning evaluates the availability of resources, including human, financial, and material resources.
A requirement for planning is that it must be based on a clear understanding of the organization's goals and objectives.
The primary purpose of planning is to identify the most appropriate course of action to achieve the organization's objectives.
The key characteristic of effective planning is that it is flexible and adaptable to changing circumstances.
Strategic planning is distinguished from operational planning in that it focuses on long-term goals and objectives, while operational planning focuses on short-term, day-to-day activities.

8 Questions