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Planning and Strategy
24問 • 4ヶ月前
  • Ella Mae Hilot
    • 通報

    問題一覧

  • 1

    one of the primary functions of management.

    Business Planning

  • 2

    It sets up the stage for all further functions of management like organizing, directing etc.

    Planning

  • 3

    deciding of what is to be done in advance.

    Planning

  • 4

    It is the groundwork for all future plans of the organization.

    Planning

  • 5

    It bridges the gap between where the organization currently find itself and where it wishes to be.

    Planning

  • 6

    It is a function that managers of all levels must perform, i.e upper, middle and lower management.

    Planning

  • 7

    Importance of Business Planning

    Planning provides a sense of direction, Planning reduces uncertainty, Planning reduces wastefulness, Planning invokes innovation, Makes decision-making easier, Establishes standards

  • 8

    Planning means coming up with a predetermined action plan for the organization.

    Planning provides a sense of direction

  • 9

    It actually states in advance what and how the work is to be done.

    Planning provides a sense of direction

  • 10

    This helps provide the workers and the managers with a sense of direction, a guidance in a way.

    Planning provides a sense of direction

  • 11

    Without planning their actions would be uncoordinated and unorganized.

    Planning provides a sense of direction

  • 12

    Planning not only sets objectives but also anticipates any future changes in the industry or the organization. So it allows the managers to prepare for these changes, and allow them to deal with the uncertainties. Planning takes into consideration past events and trends and prepares the managers to deal with any uncertain events.

    Planning reduces uncertainty

  • 13

    The detailed plans made keep in mind the needs of all the departments. This ensures that all the departments are on the same page about the plan and that all their activities are coordinated. There is clarity in thought which leads to clarity in action. All work is carried out without interruptions or waste of time or resources.

    Planning reduces wastefulness

  • 14

    Planning actually involves a lot of innovation on the part of the managers. Being the first function of management it is a very difficult activity. It encourages the manager to broaden their horizons and forces them to think differently. So the managers have to be creative, perceptive and innovative.

    Planning invokes innovation

  • 15

    In business planning the goals of the organization have been set, an action plan developed and even predictions have been made for future events. This makes it easier for all managers across all levels to make decisions with some ease. The decisionmaking process also becomes faster.

    Makes decision-making easier

  • 16

    Once the business planning is done, the managers now have set goals and standards. This provides the manager’s standards against which they can measure actual performances. This will help the organization measure if the goals have been met or not. So planning is a prerequisite to controlling.

    Establishes standards

  • 17

    Limitations of Planning

    Rigidity, Not Ideal in dynamic conditions, Planning can also reduce creativity, Planning is expensive, Not completely accurate

  • 18

    Once the planning function is complete and the action plan is set, then the manager tends to only follow the plan. The manager may not be in a position to change the plan according to circumstances. Or the manager may be unwilling to change the plan. This sort of rigidity is not ideal for an organization.

    Rigidity

  • 19

    In an economic environment rarely anything is stagnant or static. Economic, political, environmental, legal conditions keep changing. In such a dynamic environment it becomes challenging to predict future changes. And if a manager cannot forecast accurately, the plan may fail.

    Not ideal in dynamic conditions

  • 20

    While making a plan takes creativity after that managers blindly follow the plan. They do not change the plan according to the dynamic nature of the business. Sometimes they do not even make the appropriate suggestions to upper management. The work becomes routine.

    Planning can also reduce creativity

  • 21

    Planning is a cost-consuming process. Since it is an intellectual and creative process, specialized professionals must be hired for the job. Also, it involves a lot of research and facts collection and number crunching. At certain times the cost of the planning process can outweigh its benefits.

    Planning is expensive

  • 22

    When planning we have to forecast the future and predict certain upcoming events in the organization and the industry. So, of course, there cannot be hundred per cent certainty in such cases. So it can be said that business planning lacks accuracy

    Not completely accurate

  • 23

    It involves setting the goals of the company and then managing the resources to achieve such goals.

    Planning Process

  • 24

    Planning Process

    Recognizing Need for Action, Setting Objectives, Developing Premises, Identifying Alternatives, Examining Alternate Course of Action, Selecting the Alternative, Formulating Support Plan, Implementation of the Plan

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    問題一覧

  • 1

    one of the primary functions of management.

    Business Planning

  • 2

    It sets up the stage for all further functions of management like organizing, directing etc.

    Planning

  • 3

    deciding of what is to be done in advance.

    Planning

  • 4

    It is the groundwork for all future plans of the organization.

    Planning

  • 5

    It bridges the gap between where the organization currently find itself and where it wishes to be.

    Planning

  • 6

    It is a function that managers of all levels must perform, i.e upper, middle and lower management.

    Planning

  • 7

    Importance of Business Planning

    Planning provides a sense of direction, Planning reduces uncertainty, Planning reduces wastefulness, Planning invokes innovation, Makes decision-making easier, Establishes standards

  • 8

    Planning means coming up with a predetermined action plan for the organization.

    Planning provides a sense of direction

  • 9

    It actually states in advance what and how the work is to be done.

    Planning provides a sense of direction

  • 10

    This helps provide the workers and the managers with a sense of direction, a guidance in a way.

    Planning provides a sense of direction

  • 11

    Without planning their actions would be uncoordinated and unorganized.

    Planning provides a sense of direction

  • 12

    Planning not only sets objectives but also anticipates any future changes in the industry or the organization. So it allows the managers to prepare for these changes, and allow them to deal with the uncertainties. Planning takes into consideration past events and trends and prepares the managers to deal with any uncertain events.

    Planning reduces uncertainty

  • 13

    The detailed plans made keep in mind the needs of all the departments. This ensures that all the departments are on the same page about the plan and that all their activities are coordinated. There is clarity in thought which leads to clarity in action. All work is carried out without interruptions or waste of time or resources.

    Planning reduces wastefulness

  • 14

    Planning actually involves a lot of innovation on the part of the managers. Being the first function of management it is a very difficult activity. It encourages the manager to broaden their horizons and forces them to think differently. So the managers have to be creative, perceptive and innovative.

    Planning invokes innovation

  • 15

    In business planning the goals of the organization have been set, an action plan developed and even predictions have been made for future events. This makes it easier for all managers across all levels to make decisions with some ease. The decisionmaking process also becomes faster.

    Makes decision-making easier

  • 16

    Once the business planning is done, the managers now have set goals and standards. This provides the manager’s standards against which they can measure actual performances. This will help the organization measure if the goals have been met or not. So planning is a prerequisite to controlling.

    Establishes standards

  • 17

    Limitations of Planning

    Rigidity, Not Ideal in dynamic conditions, Planning can also reduce creativity, Planning is expensive, Not completely accurate

  • 18

    Once the planning function is complete and the action plan is set, then the manager tends to only follow the plan. The manager may not be in a position to change the plan according to circumstances. Or the manager may be unwilling to change the plan. This sort of rigidity is not ideal for an organization.

    Rigidity

  • 19

    In an economic environment rarely anything is stagnant or static. Economic, political, environmental, legal conditions keep changing. In such a dynamic environment it becomes challenging to predict future changes. And if a manager cannot forecast accurately, the plan may fail.

    Not ideal in dynamic conditions

  • 20

    While making a plan takes creativity after that managers blindly follow the plan. They do not change the plan according to the dynamic nature of the business. Sometimes they do not even make the appropriate suggestions to upper management. The work becomes routine.

    Planning can also reduce creativity

  • 21

    Planning is a cost-consuming process. Since it is an intellectual and creative process, specialized professionals must be hired for the job. Also, it involves a lot of research and facts collection and number crunching. At certain times the cost of the planning process can outweigh its benefits.

    Planning is expensive

  • 22

    When planning we have to forecast the future and predict certain upcoming events in the organization and the industry. So, of course, there cannot be hundred per cent certainty in such cases. So it can be said that business planning lacks accuracy

    Not completely accurate

  • 23

    It involves setting the goals of the company and then managing the resources to achieve such goals.

    Planning Process

  • 24

    Planning Process

    Recognizing Need for Action, Setting Objectives, Developing Premises, Identifying Alternatives, Examining Alternate Course of Action, Selecting the Alternative, Formulating Support Plan, Implementation of the Plan