Planning revision

Questions and Answers

What is the process of setting objectives and determining how to accomplish them?

Planning

What is a specific result that one wishes to achieve?

Objective

What is the first step in the planning process?

Defining objectives

What is the process of monitoring task accomplishments and taking necessary corrective action?

Controlling Signup and view all the answers

What are the benefits of planning?

Improved focus, flexibility, action orientation, coordination, time management, and control Signup and view all the answers

What are the two main planning theories mentioned?

Rational Comprehensive Planning (RCP) and Incrementalism Signup and view all the answers

What do strategic plans set?

Broad, comprehensive, longer-term action directions for the entire organization Signup and view all the answers

What do operational plans identify?

Activities to implement strategic plans Signup and view all the answers

What do policies provide?

Broad guidelines for decision-making Signup and view all the answers

What do procedures define?

Precise actions to be taken in specific situations Signup and view all the answers

What is the purpose of the personal planning worksheet (Worksheet 3-3b)?

To individually complete personal planning Signup and view all the answers

What do budgets allocate?

Resources Signup and view all the answers

What does zero-based budgeting prevent?

Budget numbers from becoming too large Signup and view all the answers

What is the time frame for short-range plans?

One year or less Signup and view all the answers

What is the time frame for long-range plans?

Three years or more Signup and view all the answers

What do operating plans cover?

Production, financial, facilities, marketing, and human resources aspects Signup and view all the answers

What is the primary purpose of Project Management?

To ensure timely and correct completion of project activities Signup and view all the answers

Which type of forecasting uses expert opinions to predict the future?

Qualitative forecasting Signup and view all the answers

What does Scenario Planning aim to identify?

Alternative future scenarios Signup and view all the answers

What does Benchmarking use for gaining insights for planning?

External comparison Signup and view all the answers

What is the primary purpose of Contingency Planning?

Identify alternative courses of action when things go wrong Signup and view all the answers

What is the main benefit of Participatory Planning?

Increases understanding and acceptance of the plans Signup and view all the answers

What is the main difference between Qualitative and Quantitative forecasting?

Qualitative uses expert opinions, while Quantitative uses mathematical models and statistical analysis Signup and view all the answers

What is the primary focus of Benchmarking?

To gain insights for planning through external comparison Signup and view all the answers

What is the main purpose of Scenario Planning?

To make plans to deal with alternative future scenarios Signup and view all the answers

What is the main risk associated with Participatory Planning?

A communication gap between staff planners and line managers Signup and view all the answers

What is the primary focus of Contingency Planning?

Identify alternative courses of action when things go wrong Signup and view all the answers

What is the main purpose of Forecasting?

Attempts to predict the future Signup and view all the answers

Study Notes

Planning Process and Methods Summary

Planning involves systematically setting performance objectives and deciding on strategies to achieve them.
The benefits of planning include improved focus, flexibility, action orientation, coordination, time management, and control.
Two main planning theories are Rational Comprehensive Planning (RCP) and Incrementalism, each with its unique approach and focus.
Types of plans include short-range, long-range, strategic, and operational plans, as well as policies and procedures.
Short-range plans are for one year or less, while long-range plans extend to three or more years.
Strategic plans set broad, comprehensive, longer-term action directions for the entire organization, while operational plans identify activities to implement strategic plans.
Operating plans cover production, financial, facilities, marketing, and human resources aspects.
Policies are broad guidelines for decision-making, while procedures define precise actions to be taken in specific situations.
The personal planning worksheet (Worksheet 3-3b) is used to individually complete personal planning.
Planning methods include budgeting, forecasting, contingency planning, scenario planning, benchmarking, and participatory budgeting.
Budgets can be fixed or flexible, and zero-based budgeting allocates resources as if each budget were brand new.
Zero-based budgeting does not roll over unused funds from the previous period, preventing budget numbers from becoming too large.

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Description

Explore the systematic process of setting performance objectives and deciding on strategies, along with the various planning theories, types of plans, and planning methods utilized in organizations. Gain insights into the benefits of planning and its significance in achieving organizational objectives.