Management Planning: Goals, Approaches, and Contemporary Issues
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Questions and Answers

What is the nature and purpose of planning according to the text?

  • Discussing contemporary issues in planning
  • Developing plans for organizational work activities
  • Classifying the types of goals organizations might have
  • Defining the organization's goals and establishing an overall strategy (correct)

    • What does formal planning involve?

  • Classifying the types of goals organizations might have
  • Establishing an overall strategy for achieving those goals
  • Specific goals covering a specific time period (correct)
  • Developing plans for organizational work activities

    • Which activity is regarded as a primary managerial activity according to the text?

  • Discussing contemporary issues in planning
  • Goal-setting and planning (correct)
  • Classifying the types of goals organizations might have
  • Defining the organization's goals

    • What is the focus of planning?

    <p>Defining the organization's goals and establishing an overall strategy</p> Signup and view all the answers

    Which of the following is an essential part of formal planning?

    <p>Written and shared with organizational members</p> Signup and view all the answers

    Involving defining the organization's goals and establishing an overall strategy, which managerial activity does this refer to?

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

    What is one of the purposes of planning according to the text?

    <p>Reduce uncertainty</p> Signup and view all the answers

    Formal planning is associated with which of the following financial outcomes?

    <p>Higher profits and returns on assets</p> Signup and view all the answers

    What do goals (or objectives) provide according to the text?

    <p>Direction and evaluation performance criteria</p> Signup and view all the answers

    Which type of plan establishes the organization’s overall goals and seeks to position it in terms of its environment?

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

    What is the time frame for long-term plans according to the text?

    <p>Time frames extending beyond three years</p> Signup and view all the answers

    What do financial goals relate to according to the text?

    <p>Expected internal financial performance of the organization</p> Signup and view all the answers

    What do operational plans specify according to the text?

    <p>Details of how the overall goals are to be achieved</p> Signup and view all the answers

    What are the elements of planning according to the text?

    <p>Goals and Plans</p> Signup and view all the answers

    What do strategic goals relate to according to the text?

    <p>Performance of the firm relative to factors in its external environment (e.g., competitors)</p> Signup and view all the answers

    What do strategic plans cover according to the text?

    <p>Extended periods of time</p> Signup and view all the answers

    What is the primary focus of planning as described in the text?

    <p>Defining the organization's goals and establishing an overall strategy</p> Signup and view all the answers

    What characterizes formal planning according to the text?

    <p>Specific goals covering a specific time period and shared with organizational members</p> Signup and view all the answers

    Which of the following is a key element of planning, based on the text?

    <p>Defining the organization's goals and establishing an overall strategy</p> Signup and view all the answers

    What do operational plans primarily specify according to the text?

    <p>Specific time-bound goals</p> Signup and view all the answers

    Which activity is regarded as a primary managerial activity according to the text?

    <p>Developing plans for organizational work activities</p> Signup and view all the answers

    What is the purpose of formal planning, according to the text?

    <p>To establish an overall strategy for achieving those goals</p> Signup and view all the answers

    What is the purpose of planning as mentioned in the text?

    <p>Reducing uncertainty</p> Signup and view all the answers

    What do operational plans specify according to the text?

    <p>Details of how the overall goals are to be achieved</p> Signup and view all the answers

    What do strategic goals relate to according to the text?

    <p>Performance of the firm relative to factors in its external environment</p> Signup and view all the answers

    What is the time frame for long-term plans according to the text?

    <p>Three years</p> Signup and view all the answers

    Which of the following is an essential part of formal planning?

    <p>Quality of planning and implementation</p> Signup and view all the answers

    What is one of the purposes of formal planning according to the text?

    <p>Minimizing waste</p> Signup and view all the answers

    What do goals (or objectives) provide according to the text?

    <p>Direction and evaluation performance criteria</p> Signup and view all the answers

    What do strategic plans cover according to the text?

    <p>Extended periods of time</p> Signup and view all the answers

    What are the elements of planning according to the text?

    <p>Desired outcomes and documents outlining how goals are to be accomplished</p> Signup and view all the answers

    Formal planning is associated with which of the following financial outcomes?

    <p>Higher profits and returns on assets</p> Signup and view all the answers

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