The Planning Function in Management
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Questions and Answers

Which function of management involves establishing objectives and goals for an organization?

  • Controlling
  • Leading
  • Planning (correct)
  • Organizing
  • Who is responsible for setting strategic goals in an organization?

  • All managers
  • Top managers (correct)
  • First-line managers
  • Middle managers
  • What is the difference between a goal and an objective?

  • A goal is short-term, while an objective is long-term
  • A goal is specific, while an objective is broad
  • A goal is long-term, while an objective is specific (correct)
  • A goal is broad, while an objective is specific
  • What is a mission statement?

    <p>A brief statement of why the company exists</p> Signup and view all the answers

    What is a vision statement?

    <p>A statement of the company's current status and aspirations</p> Signup and view all the answers

    What is the organizing function of management?

    <p>Arranging resources to carry out an organization's plans</p> Signup and view all the answers

    What is the management pyramid?

    <p>A pyramid-shaped structure representing the hierarchy of management</p> Signup and view all the answers

    Who has the most power and responsibility in an organization?

    <p>Top managers</p> Signup and view all the answers

    What do strategic plans outline?

    <p>The firm's long-range organizational goals</p> Signup and view all the answers

    What are values statements?

    <p>Statements of the company's decision-making principles</p> Signup and view all the answers

    Which level of management is responsible for supervising the operating employees and implementing the plans set by higher management levels?

    <p>First-line Managers</p> Signup and view all the answers

    What are the three basic styles of leadership within companies?

    <p>Autocratic, Democratic, Laissez-faire</p> Signup and view all the answers

    What is the process of guiding and motivating people to work toward organizational goals called?

    <p>Leading</p> Signup and view all the answers

    Which style of leadership involves leaders who do not involve others in decision making?

    <p>Autocratic leaders</p> Signup and view all the answers

    What is the term for a philosophy allowing employees to take part in planning and decision making?

    <p>Participative management</p> Signup and view all the answers

    What is the process of helping employees reach their highest potential by meeting with them, discussing issues, and offering suggestions called?

    <p>Coaching</p> Signup and view all the answers

    What is the process similar to coaching but based on a learning relationship between an experienced manager and a less experienced one called?

    <p>Mentoring</p> Signup and view all the answers

    What is the term for a set of shared values and norms that support the management system and guide management and employee behavior in a company?

    <p>Organizational culture</p> Signup and view all the answers

    What is the process of measuring progress against goals and objectives, and correcting deviations if results are not as expected called?

    <p>Controlling</p> Signup and view all the answers

    What is the term for a method of monitoring performance from four perspectives: finances, operations, customer relationships, and growth & development of employees and intellectual property?

    <p>Balance scorecard</p> Signup and view all the answers

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