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Principles of Management: Planning, Controlling, and Decision Making

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Principles of Management: Planning, Controlling, and Decision Making

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Questions and Answers

What is the main focus of Planning?

Evaluating budget details

Gathering feedback

Selecting a course of action

Setting goals and specifying how to achieve them (correct)

What is the purpose of Controlling in the context given?

Evaluating whether the plan is being properly executed (correct)

Defining budget figures

Selecting a course of action from competing alternatives

Setting goals for the future

Which activity involves selecting a course of action from competing alternatives?

Evaluating the budget

Controlling the plan execution

Establishing goals

Decision Making (correct)

What is the main purpose of a Budget in planning?

Detailed plan for the future Signup and view all the answers

What does Controlling involve in terms of ensuring the recruiting process meets expectations?

Gathering and evaluating feedback Signup and view all the answers

What is the main focus of Lean Production?

Producing units based on customer orders Signup and view all the answers

According to the Theory of Constraints, what is a constraint?

A limitation that prevents achieving desired outcomes Signup and view all the answers

Why are leadership skills considered critical to career development?

Because organizations are managed by people Signup and view all the answers

What does Corporate Social Responsibility (CSR) extend beyond?

Voluntary actions that satisfy stakeholder expectations Signup and view all the answers

In Lean Production, why is producing units only in response to customer orders emphasized?

To guarantee customer satisfaction Signup and view all the answers

What is the main purpose of a budget in the context provided?

To compare budgeted data to actual data Signup and view all the answers

What is the main focus of strategic management skills for managers?

Developing a 'game plan' to attract customers Signup and view all the answers

What does measuring skills in managers involve?

Identifying and eliminating unsatisfactory performance sources Signup and view all the answers

In the context provided, what is the main purpose of enterprise risk management skills?

Developing responses plans to risks Signup and view all the answers

What is a business process according to the text?

Steps followed in order to carry out a task in a business Signup and view all the answers

How does controlling contribute to performance improvement based on the text?

By identifying and eliminating sources of unsatisfactory performance Signup and view all the answers