MGMT 3000 (UGA LYONS) Chapter 5 |
Latest Version | 2024/2025 | 100%
Verified
What is the primary focus of the planning function in management?
Setting goals and determining the best way to achieve them.
How does a mission statement influence strategic planning?
It defines the organiza...
MGMT 3000 (UGA LYONS) Chapter 5 |
Latest Version | 2024/2025 | 100%
Verified
What is the primary focus of the planning function in management?
✔✔ Setting goals and determining the best way to achieve them.
How does a mission statement influence strategic planning?
✔✔ It defines the organization's purpose and guides long-term objectives.
What is the role of contingency planning in management?
✔✔ Preparing alternative courses of action for unforeseen events.
What is the difference between strategic and operational planning?
✔✔ Strategic planning focuses on long-term goals, while operational planning deals with day-to-
day operations.
What is the significance of environmental scanning in strategic planning?
✔✔ It involves monitoring external factors to identify potential opportunities and threats.
1
, What is the role of tactical planning in achieving organizational goals?
✔✔ Translating strategic plans into specific, short-term actions.
How do strategic goals differ from tactical goals?
✔✔ Strategic goals are broad, long-term aims, while tactical goals are more specific and short-
term.
What is the function of a business plan in management?
✔✔ To outline the company's strategy, goals, and the steps needed to achieve them.
What is the importance of establishing a vision statement in management?
✔✔ It provides a future-focused declaration of where the organization aspires to be.
How does strategic planning differ from operational planning?
✔✔ Strategic planning sets the long-term direction, while operational planning focuses on
executing specific day-to-day tasks.
2
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