Podcast
Questions and Answers
Which activity in planning involves setting a time sequence for project steps?
Which activity in planning involves setting a time sequence for project steps?
- Budgeting
- Forecasting
- Scheduling (correct)
- Programming
What does 'establishing procedures' accomplish in the context of planning?
What does 'establishing procedures' accomplish in the context of planning?
- It formulates standing decisions.
- It allocates resources within a specific period.
- It standardizes work for uniform objective achievement. (correct)
- It estimates future conditions and events.
Forecasting relates to
Forecasting relates to
- allocation of resources
- predicting the future (correct)
- formulation of objectives
- establishing procedures
Which of the following is the main purpose of planning?
Which of the following is the main purpose of planning?
A company is determining the order of actions to take when introducing a new product line. Which planning activity does this represent?
A company is determining the order of actions to take when introducing a new product line. Which planning activity does this represent?
What aspect of planning involves assessing a company's internal capabilities based on available money?
What aspect of planning involves assessing a company's internal capabilities based on available money?
What critical element does a business lack if it does not have a plan?
What critical element does a business lack if it does not have a plan?
Which of the following activities relates to the development of long-term goals?
Which of the following activities relates to the development of long-term goals?
What does establishing procedures ensure within a business?
What does establishing procedures ensure within a business?
Which aspect of planning results in standing decisions?
Which aspect of planning results in standing decisions?
Flashcards
Planning
Planning
Formulation of objectives, programs, policies, procedures, rules, and regulations to achieve business goals.
Developing Objectives
Developing Objectives
Envisioning the desired outcomes or targets a company aims to reach through its activities.
Forecasting
Forecasting
Estimating and predicting future conditions and events to anticipate challenges and opportunities.
Programming
Programming
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Scheduling
Scheduling
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Budgeting
Budgeting
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Developing policies
Developing policies
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Establishing procedures
Establishing procedures
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Study Notes
Planning
- Planning involves formulating objectives, programs, policies, procedures, rules, and regulations
- Planning helps achieve business goals by selecting the best course of action
- It relates to decision-making, incorporating forecasting and making decisions in advance
- Planning aims to accomplish present objectives while considering future relationships
- Planning assesses internal resources, establishes goals, formulates policies/procedures, and develops business strategies
- Planning is critical for pharmacy operations, providing purpose and direction
Activities Involved in Planning
- Developing objectives involves envisioning the goals to be accomplished
- Forecasting involves estimating and predicting future conditions and events
- Programming establishes the sequence and priority of actions to take or steps to follow in achieving the objectives
- Scheduling sets a time sequence for the steps to undertake a project
- Budgeting allocates resources to achieve an objective within the specified period of time
- Developing policies formulates a standing decision that applies to the concerns of the enterprise as a whole in achieving its objectives
- Establishing procedures standardize the work that must be done uniformly if the objectives are to be achieved
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