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M3 Flashcards

1
Q

The aspects of this changing environment are:

A
  1. Changes in Technology
  2. Changes in Government Policy
  3. Changes in all overall economic activity
  4. Changes in the nature of competition
  5. Changes in social norms and attitudes
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2
Q

Is a function of management in which a conscious choice of patterns of influence is determined for
decision makers so that many decisions will be coordinated for some
period of time and will be directed toward the
chosen broad goals.

A

Planning

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3
Q

Is a predetermined course of action.

A

Plan

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4
Q

It may be tailored to a specific project, or they may be
established as a standing plans for any future actions.

A

Plan

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5
Q

It may developed after considerable detailed study of a
routine set of actions, can serve as a predetermined pattern, which will ensure correct future action with a maximum
of rethinking on the part of the operator.

A

Checklist

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6
Q

According to him Planning refers to” the management function that involves anticipating
future trends and determining the best strategies and tactics to achieve organizational objectives.” This
definition is useful because it relates the future to what could be decided now.

A

Nickels and others

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7
Q

According to them define planning as “the selection and sequential ordering of tasks
required to achieve an organization goal. “ The definition centers on the activity to accomplish the goals.

A

Aldag and Steams

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8
Q

According to them planning provides a better guide on how effectively perform this vital activity. Planning according to them is “deciding what will be done, who will do it, where, when, and how it will be
done and the standards to which it will be done.

A

Cole and Hamilton

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9
Q

RECITE PLANNING AND THE MANAGEMENT PROCESS

A
  1. Setting organizational, divisional, or unit goals
  2. Developing strategies or tactics to reach those goals
  3. Determining resources needed and
  4. Setting standard
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10
Q

This is the first task of the engineer manager is to provide a sense of direction to his firm (if he is the chief
executive), to his division (if he heads a division), or to his unit (if he is a supervisor).

A

Setting Organizational, Divisional, or Unit goals

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11
Q

it provides an
answer to the said concern.

A

Setting of goals

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12
Q

May be defined as the “precise statement of the results sought, quantified in the time and magnitude, where possible”.

A

Goal

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13
Q

After determining the goals, the next task is to devise some means to realize them.

A

Developing Strategies or Tactics to reach those goals

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14
Q

may be defined as “a course of action aimed at ensuring that the organization will achieve its
objectives.”

A

Strategy

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15
Q

is a short-term action taken by management to adjust to negative internal or external influences.

A

Tactics

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16
Q

Give the 3 Components of Strategic Management

A
  1. Goal of Organization
  2. Mission of Organization
  3. Strategy of Organization
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17
Q

Components of Strategic Management that are the general and ultimate ends toward
which they are aimed.

A

Goal of Organization

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18
Q

Components of Strategic Management that is the specific and well defined roles and
activities on which the organization elects to concentrate its efforts.

A

Mission of Organization

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19
Q

Components of Strategic Management that must be tailored to the specific situation in which an
organization find itself. A strategy that has been successful for one company may not be good for
another.

A

Strategy of Organization

20
Q

When particular sets of strategies or tactics have been devised, the engineer manager will, then, determine
the human and non-human resources requires by such strategies or tactics. Even if the resource requirements are
currently available, they must be specified.

A

Determining Resources Needed

21
Q

The standards for measuring performance may be set at the planning stage. When actual performance does
not match with the planned performance, corrections may be made or reinforcement given.

A

Setting Standards

22
Q

may be defined as “a quantitative or qualitative measuring device designed to help monitor the
performances of people, capital goods or processes.

A

Standard

23
Q

GIVE ALL THE PLANNING AT VARIOUS MANAGEMENT LEVELS

A
  1. Top management level- strategic planning
  2. Middle management level- intermediate planning
  3. Lower management level- operational planning
24
Q

It refers to the process of determining the major goals of the organization and the
policies and the strategies for obtaining and using resources to achieve those goals.

A

Strategic Planning

25
Q

It refers to “the process determining the contributions that subunits can make with
allocated resources.” This type of planning is undertaken by middle management.

A

Intermediate Planning

26
Q

It refers to “the process of determining how specific task can best be
accomplished on time with available resources.” This type of planning is a responsibility of lower management. It
must be performed in support of strategic plan and intermediate plan

A

Operational Planning

27
Q

Thiis is the written document or blueprint for implementing and controlling an
organization’s marketing activities related to particular marketing strategy.

A

Marketing Plan

28
Q

This is the written document that states the quantity of output of a company must be
produced in broad terms and by product family.

A

Production Plan

29
Q

It is a document that summarizes the current financial situation of the firm, analyzes
financial needs and recommends a directions for financial activities.

A

Financial Plan

30
Q

It is a document that indicates the human resource needs of a
company detailed in terms of quantity and quality and based on the requirements of the company’s strategic plan.

A

Human Resource Management Pan

31
Q

These are plans intended to cover a period of less than one year. First-line supervisors are
mostly concerned with these plans

A

Short-range Plan

32
Q

These are plans covering a time span of more than one year. These are mostly undertaken by
middle and top management

A

Long-range Plan

33
Q

These are plans that are used again and again, and they focus on managerial situations that
recur repeatedly.

A

Standing Plan

34
Q

They are broad guidelines to aid managers at every level in making decisions about recurring
situations or functions.

A

Policies

35
Q

They are plans that describe the exact series of actions to be taken in a given situation.

A

Procedures

36
Q

They are statements that either require or forbid a certain action.

A

Rules

37
Q

These plans are specifically developed to implement courses of action that are relatively unique
and are unlikely to be repeated.

A

Single-Use Plan

38
Q

According to Weston and Brigham, is “a plan which sets forth the projected EXPENDITURE for a
certain activity and explains where the required funds will come from.”

A

Budget

39
Q

A single-use plan designed to coordinate a large set of activities.

A

Program

40
Q

is a single-use plans that is usually more limited in scope than a program and is sometimes
prepared to support a program.

A

Project

41
Q

The Contents of Marketing Plan

A
  1. The Executive Summary
  2. Table of Contents
  3. Situational Analysis and Target Market
  4. Marketing Objectives and Goals
  5. Marketing Strategies
  6. Marketing Tactics
  7. Schedules and Budgets
  8. Financial Data and Control
42
Q

The Contents of the Production Plan

A
  1. The amount of capacity the company must have
  2. How many Employees are required?
  3. How much material must be purchased?
43
Q

The Content of Financial Plan

A
  1. An analysis of the firm’s current financial condition as indicated by an analysis of the most recent statements
  2. A sales forecast
  3. The Capital Budget
  4. The cash budget
  5. A set of pro Forma (or Projected) financial statements
  6. The external financing plan
44
Q

Contents of the Human Resources Plan

A
  1. Personnel requirements of the company
  2. Plans for recruitment and selection
  3. Training Plan
  4. Retirement Plan
45
Q

Parts of the Strategic Plan

A
  1. Company or corporate mission
  2. Objectives or Goals
  3. Strategies

ME (3 decks)

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