MGT162 Chp 2: Planning

What is the primary purpose of planning in management?

• To motivate employees

• To ensure financial stability

• To set objectives and determine a course of action

• To monitor employee performance

Which of the following is NOT a characteristic of effective planning?

• Flexibility

• Specificity

• Rigidity

• Time-bound

Which type of planning focuses on the long-term goals of an organization?

• Operational planning

• Tactical planning

• Strategic planning

• Contingency planning

What is the first step in the planning process?

• Implementing the plan

• Evaluating the plan

• Setting objectives

• Developing strategies

In planning, which of the following refers to alternative courses of action?

• Objectives

• Policies

• Strategies

• Contingency plans

What is the role of a SWOT analysis in the planning process?

• To assess financial risks

• To evaluate strengths, weaknesses, opportunities, and threats

• To define employee roles

• To measure productivity

Which of the following is a key benefit of planning?

• Increased uncertainty

• Improved resource allocation

• Reduced employee engagement

• Higher operational costs

Planning helps in achieving organizational goals by:

• Eliminating all risks

• Providing a sense of direction

• Reducing the need for monitoring

• Allowing for spontaneous decision-making

One of the benefits of planning is that it:

• Increases the number of employees needed

• Decreases communication within teams

• Enhances coordination among different departments

• Makes decisions less structured

How does planning contribute to risk management?

• It completely eliminates risks

• It helps identify potential risks in advance

• It discourages taking any risks

• It focuses only on financial risks