Planning _ Unit 2

What is the primary purpose of planning in management?

• To control employee behavior

• To identify and select appropriate goals

• To reduce costs

• To increase competition

Which of the following is NOT a type of plan mentioned?

• Business-level plan

• Scalar-level plan

• Corporate-level plan

• Functional-level plan

What does a mission statement typically include?

• Market share statistics

• Product pricing

• Organization's purpose and customers

• Employee salaries

What does SMART stand for in goal setting?

• Specific, Measurable, Achievable, Relevant, Time-bound

• Specific, Manageable, Attainable, Relevant, Time-sensitive

• Strategic, Measurable, Achievable, Realistic, Timely

• Simple, Measurable, Achievable, Relevant, Time-based

What is the time horizon for long-term plans?

• 2 to 3 years

• Less than 1 year

• 1 to 5 years

• 5 years or more

What is a key feature of effective planning?

• It is a one-time process

• It is done by only top management

• It focuses solely on financial goals

• It involves participation from managers

What does SWOT stand for?

• Strengths, Weaknesses, Options, Trends

• Strategies, Weaknesses, Objectives, Targets

• Strengths, Weaknesses, Opportunities, Threats

• Systems, Workflows, Objectives, Tasks

Which of the following is an example of a measurable goal?

• Improve customer service

• Enhance employee morale

• Achieve a customer satisfaction score of 90%

• Increase brand awareness

What is the role of the manager in the controlling process?

• To ignore performance data

• To oversee operations and monitor performance

• To create new products

• To reduce costs

What is a common limitation of planning?

• It helps in decision making

• It provides a clear direction

• It encourages teamwork

• It can be time-consuming