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The Nature of Planning in Management

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Questions and Answers

What is the primary goal of strategic planning in an organization?

To assign tasks to employees at lower management levels

To allocate resources for daily operations

To evaluate the performance of top management

To determine the major goals of the organization and the policies and strategies for obtaining and using resources (correct)

At which management level is strategic planning typically carried out?

Top management levels (correct)

Lower management levels

Operational management levels

Middle management levels

What is the outcome of planning, which provides a methodical way of achieving desired results?

A strategy

A goal

A plan (correct)

A policy

What happens when opportunity meets planning, according to Thomas Edison?

Good fortune Signup and view all the answers

What is the primary output of strategic planning?

The strategic plan Signup and view all the answers

Which of the following definitions of planning is attributed to Aldag and Stearns?

The selection and sequential ordering of tasks required to achieve an organizational goal Signup and view all the answers

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

To provide a methodical way of achieving desired results Signup and view all the answers

What level of management is responsible for determining subunit contributions with allocated resources?

Middle Management Signup and view all the answers

What is the primary purpose of intermediate planning?

To support the strategic plan Signup and view all the answers

What is the outcome of intermediate planning?

An intermediate plan Signup and view all the answers

What is the relationship between intermediate planning and the strategic plan?

The intermediate plan supports the strategic plan Signup and view all the answers

What is the scope of goals outlined in the strategic plan?

Long-term goals Signup and view all the answers

What is the primary component of a company's strategic plan?

Company or corporate mission Signup and view all the answers

What is a common barrier to planning, according to Plunkett and Attner?

All of the above Signup and view all the answers

What is a key aspect of the planning process, according to the text?

Recognizing planning barriers Signup and view all the answers

What is an example of a functional area plan, according to the text?

All of the above Signup and view all the answers

What is the purpose of recognizing planning barriers, according to the text?

To make planning successful Signup and view all the answers

What should be included in a company's financial plan, according to the text?

Analysis of the firm's current financial condition Signup and view all the answers