Planning and Decision Making

Planning and Decision Making

Assessment

Flashcard

Business

University

Practice Problem

Medium

Created by

NUR NADIA AZLEEN BINTI AZLI UPTM

Used 1+ times

FREE Resource

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24 questions

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1.

FLASHCARD QUESTION

Front

What is Planning?

Back

Planning is a management function that involves setting goals, establishing strategies for achieving those goals, and developing plans to integrate and coordinate work activities.

2.

FLASHCARD QUESTION

Front

What are the benefits of planning for managers?

Back

Planning provides direction, reduces uncertainty, minimizes waste and redundancy, and establishes goals and standards for controlling.

3.

FLASHCARD QUESTION

Front

What is the relationship between planning and performance?

Back

Formal planning is associated with positive financial results, and the quality of planning/implementation is more important than the extent of it.

4.

FLASHCARD QUESTION

Front

What are the types of plans in management?

Back

Types of plans include strategic plans, operational plans, long-term plans, short-term plans, specific plans, and directional plans.

5.

FLASHCARD QUESTION

Front

What is the difference between strategic and operational plans?

Back

Strategic plans apply to the entire organization and establish overall goals, while operational plans encompass a particular operational area of the organization.

6.

FLASHCARD QUESTION

Front

What are single-use plans and standing plans?

Back

Single-use plans are one-time plans designed for unique situations, while standing plans are ongoing plans that provide guidance for repeated activities.

7.

FLASHCARD QUESTION

Front

What are objectives and goals in management?

Back

Objectives and goals are desired outcomes or targets that provide management with direction and serve as a means to measure progress.

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