Types of Planning in Management

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What is the main difference between tactical plans and strategic plans?

Strategic plans are used for crisis situations while tactical plans are for usual situations.

Tactical plans have a shorter time frame than strategic plans. (correct)

Strategic plans have more specific objectives than tactical plans.

Tactical plans have a longer time frame than strategic plans.

What does operational planning in an organization aim to create?

Alternative courses of action

Strategic goals

Broad objectives

Specific standards, methods, policies, and procedures (correct)

In which situations are contingency plans used?

For very unusual or crisis situations (correct)

For setting long-term objectives

For day-to-day decision making

For usual operational activities

What do contingency plans typically include?

Standard operating procedures and communication channels Signup and view all the answers

In what area do operational planning decisions need to be made according to the text?

Inventory management Signup and view all the answers

What is the primary focus of strategic planning?

Creating long-range broad goals Signup and view all the answers

Which type of planning has a shorter time frame and more specific objectives?

Tactical planning Signup and view all the answers

What is the main purpose of operational planning?

Creating specific standards and procedures Signup and view all the answers

When do managers typically use contingency plans?

For very unusual or crisis situations Signup and view all the answers

Which level of management formulates strategic plans?

Top-level managers Signup and view all the answers

What is the key difference between tactical and operational planning?

Time frame and specificity of objectives Signup and view all the answers

Why do managers design strategies in the planning process?

To prevent future problems or take advantage of opportunities Signup and view all the answers

What distinguishes tactical plans from strategic plans?

Tactical plans have more specific objectives. Signup and view all the answers

What does operational planning in an organization primarily focus on?

Creating specific standards and procedures Signup and view all the answers

What is the main purpose of contingency plans in an organization?

To identify alternative courses of action for crisis situations Signup and view all the answers

In what way do tactical plans differ from operational plans?

Operational plans cover specific functional areas. Signup and view all the answers

What do contingency plans typically include for an organization?

Standard operating procedures Signup and view all the answers

How do tactical plans contribute to achieving broader strategic goals?

By implementing specific actions Signup and view all the answers

Why is it important for organizations to have operational planning decisions regarding inventory?

To ensure customer satisfaction Signup and view all the answers

What would be a key feature of tactical planning approaches to inventory management?

In-depth analysis of market trends for precise inventory predictions. Signup and view all the answers