ES034 Planning

A process that helps managers set objectives for the future and map out the activities and means that will make it possible to achieve those objectives

• Planning

• Organizing

• Controlling

• Staffing

Is planning necessary in a rapidly changing world?

• No, it is not necessary

• Yes, it is necessary

• It depends on the type of organization

Which of the following is not a key element of a plan?

• Objectives

• Actions

• Resources

• Assessment

Setting this requires the firm to anticipate what is likely to happen in the future, and a reasonable forecast allows a firm to set challenging and realistic one.

• Vision

• Mission

• Objectives

• Actions

What are actions?

• Goals or targets that the firm wishes to reach within a stated amount of time

• Implementation guidelines that show how the intended actions will be carried out

• The planning step that determines where the resources will come from

• Specific steps the firm intends to take to achieve the desired objectives

What is the primary criterion of effectiveness for tactical action plans?

• The extent to which they contribute to the achievement of the company’s strategic objectives.

• The number of resources allocated to complete the portions of the strategic action plan.

• The level of detail in specifying the activities that must be performed.

• The focus on departmental goals.

Which of the following is an example of a functional area plan?

• Short-Range Plan

• Financial Plan

• Program Plan

• Rules Plan

What is the time span covered by long-range plans?

• Less than one year

• More than one year

• More than five years

• Less than five years

What is the main characteristic of standing plans?

• They are used only once

• They focus on unique situations

• They describe the exact series of actions to be taken in a given situation

• They are used again and again

Which of the following is an example of a single-use plan?

• Policies Plan

• Budget Plan

• Human resource management plan

• Marketing plan