Lesson 3: Planning

Question 1

refers to the process of setting goals, determining the steps or actions needed to achieve those goals, and organizing resources and time to carry out those actions effectively. Planning can take many forms and can be applied in various context, including personal life, business, project management and government policies.

Answer 1

planning

Question 2

a fundamental process within the field of management that involves defining goals, objectives, and strategies for achieving them.

Answer 2

management planning

Question 3

in the process of planning,

Answer 3

resources have to be identified

Question 4

management planning can be categorized into

Answer 4

long-term and short-term plans

Question 5

a strategic process that involves setting goals, objectives, and strategies for achieving desired outcomes over an extended period of time, typically spanning several years or even decades.

Answer 5

long-term planning

Question 6

a process of setting goals, defining strategies, and outlining actions that focus on achieving specific objectives within a relatively brief time frame, typically ranging from a few weeks to a years or so.

Answer 6

short-term planning

Question 7

It is a forward-looking approach aimed at shaping the future and ensuring that an organization or an individual can work toward significant, far-reaching goals.

Answer 7

long-term planning

Question 8

short-term
planning is concerned with

Answer 8

immediate or near-future priorities and tasks

Question 9

a systematic and comprehensive process that organization, business, and institutions use to define their long-term vision, mission, goals, and objectives, and to develop strategies and action plans to achieve them.

Answer 9

strategic planning

Question 10

a step taken after a business or a team creates a strategic plan and involves breaking down that plan into smaller, actionable goals and objectives

Answer 10

tactical planning

Question 11

tactical planning involves

Answer 11

breaking down strategic plans into smaller, actionable goals and objectives

Question 12

tactical plans specify

Answer 12

detailed actions or steps

Question 13

nature of planning

Answer 13

it is SMART; primary function; persuasive; based on facts; integrated process; continuous process; quantified plans

Question 14

SMART stands for

Answer 14

specific, measurable, achieving/attainable, realistic, time bound

Question 15

it provides the basic foundation
from which all future management
function arise

Answer 15

planning is a primary function

Question 16

not an exclusive function of any
management level or department. It
is required at all levels of
management. Managers have to plan
for every change that occurs in an
organization.

Answer 16

planning is persuasive

Question 17

take into consideration the VISION,
MISSION, OBJECTIVES of the
organization.

Answer 17

it is based on facts

Question 18

it is structured in a systematic and
logical sequence where each plan or
step is highly interdependent and
mutually supportive.

Answer 18

it is an integrated process

Question 19

it is an ongoing process of adapting
the organization with the changes in
the business environment. Since the
business exists in a dynamic
environment, it is necessary to
continuously plan based on changing
business needs and situation.

Answer 19

it is a continuous process

Question 20

To effectively monitor
performance and achieve
success, a plan needs to

Answer 20

quantified, meaning it should include measurable elements or objectives

Question 21

plans should be quantified to identify the

Answer 21

causes of deficit so that we can address and rectify errors

Question 22

when plans are quantified, this is where the

Answer 22

controlling function comes to play

Question 23

controlling involves

Answer 23

including a reward system or penalty for those who fail to deliver

Question 24

steps in planning

Answer 24

set objectives or goals; identifying resources; identifying goal-related tasks; establish responsibility centers for accountability and timeline; establish an evaluation system for monitoring and controlling; determine contingency plan

Question 25

short-term goals last

Answer 25

at most a year

Question 26

are generally formed
where are the vision and mission of the company are
practiced again and again.

Answer 26

long-term goal

Question 27

long-term goals last

Answer 27

more than 1 year

Question 28

Describe what top managers want their company
to become.

Answer 28

vision

Question 29

Describe how the company makes the purpose
and objectives of the company clear.

Answer 29

mission

Question 30

examples of resources

Answer 30

production resources; finance resources; human resources

Question 31

Management must figure out how to

Answer 31

achieve an objectives

Question 32

contingency plans are also known as

Answer 32

alternative options or back-up plans or plan B

Question 33

Management must put in a place a mechanism that will
allow plans to be monitored.

Answer 33

establish an evaluation system for monitoring and controlling