Planning is the first and most important function of management. It is needed at every level of management.

• True

• False

Planning can minimize costs because it helps to avoid redundancy and unnecessary spending of the resources.

• True

• False

A mission statement describes the long-term goal of an organization.

• True

• False

In a SWOT analysis, strengths and weaknesses are factors external to an organization.

• True

• False

Opportunities are elements in the environment that the organization or project could exploit to its advantage.

• True

• False

Weaknesses are elements in the environment that could cause trouble for the organization.

• True

• False

Internal factors are things that organizations have some control over and can change. 

• True

• False

Tactical planning is a process by which an organization makes decision and takes actions to enhance its long-term performance.

• True

• False

Operational planning is a process of determining the day-to-day activities or the daily running of an organization.

• True

• False

Planning reduces overlapping and wasteful activities in an organization.

• True

• False