HSM1093

What are the steps in the management process?

• Planning - Organizing - Leading - Controlling

• Organizing - Planning - Leading - Controlling

• Controlling - Planning - Leading - Organizing

• Leading - Managing - Planning - Controlling

Why is planning so important in management?

Define planning.

°Strategic plans refer to establishing the organization’s long-term vision, mission, and value statement.

• True

• False

Operating plans specify the allocation of resources.

• True

• False

Time frame plans are classified into a period of time.

• True

• False

Strategic planning is the process that the organization uses to study many different aspects of its competitive environment.

• True

• False

What means SWOT analysis?

• Strengths, Weaknesses, Opportunities and Threats

• A competitive environment

Organization uses SWOT analysis to get a general understanding of what they are good or bad in and what external factors might present chances for success or difficulty.

• True

• False

Weakness is what the organization is not good at and is necessarily organization faulted.

• True

• False