The Importance of Planning in Management

Implementing strategies

Maximizing profits

Coping with uncertainty (correct)

Setting long-term goals

Providing direction to managers

Focusing attention on today’s success

Forcing analytical thinking and evaluation of alternatives (correct)

Maximizing waste and redundancy

Goals are measurable results, objectives are intentions

Goals are farsighted, objectives are nearsighted (correct)

Goals have a short-term time horizon, objectives have a long-term time horizon

Goals are specific commitments, objectives are general statements

<p>Identifying the organization's current mission, goals, and strategies</p> Signup and view all the answers

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