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 (B)</p> Signup and view all the answers

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