He has spoken, written, and taught on management for more than 20 years. Programmes must be closely integrated with the objectives. After determination of the organisational goals, it is necessary to establish planning premises, that is, the conditions under which planning activities will be undertaken. Programmes, thus, lead to a concrete course of inter-related actions for the accomplishment of a purpose. Focusing on your mission each day should enable you to reach your vision. Privacy Policy 8. place. The language of the work schedule or programme in the planning should be simple so that each and every part of it may easily be understood by the employees at different levels, specially at the lower level. D. include an analysis of the competition. Generally, in planning a project, a special task force is also envisaged. This is needed for improvement in the quality of planning. Core values describe your beliefs and behaviors. The marketing mix includes all of the following except. Briefly discuss project management and what it involves. Different procedures are adopted in different areas of business activities. B Explanation: B) The planning phase includes analyzing the situation, gathering information, … The break-down of the master plan into departmental and sectional plans provides a realistic picture of the actions to be taken in future. As the planning proceeds step by step, it foresees the changes likely to come and accordingly prepares its programme by necessary adjustments and adaptation. With the help of planning, an enterprise can predict future events and make due provision for them. In this process a hierarchy of objectives is created. Therefore, every organisation is required to specify what it wants to achieve. All of the following are part of the planning function EXCEPT: a. Analyzing a situation. The following commission EXCEPT: are elements in a manager's compensation package b. c. benefits d. short term incentives salary 10. In fact, most of the company’s achievements can be attributed to careful planning. Objectives specify the results expected in measurable terms and indicate the end points of what is to be done; where the primary emphasis is to be placed, and what is to be accomplished by various types of plans. Thus, planning and control are inseparable. It is undertaken at all segments and levels of the organisation—from the general manager to the foreman. Do You Know Your Leadership Values and Practice Ethically? It is an immense need for the managers of an enterprise to fix up their minds as to what they want to accomplish and then plan the use of time, resources, and efforts towards the achievement of their objectives. e. Generating multiple BOMs for … Week 3 - Quiz: MGT435: Organizational Change … The project charter should help the project team and the project sponsor to develop a common understanding of what the project is all about. Regulates health insurance needs and desires. As a result of such attention, it becomes possible for the planners to determine the policies, procedures, programmes and the rules for an orderly advance towards the ultimate goals desired to be achieved. D. Diagramming techniques. Strategies thus may be internal and external. A. Quality-control systems specify an organizational structure that allows those responsible for quality to check the work being carried out at all levels. This will help in selecting the most favourable alternative. There is no need for planning if there is only one way for doing something. Calculating and planning requirements for materials at all levels of the BOM. Every lower-level plan serves as a means towards the end of higher plans. Planning concentrates attention on the objectives of an enterprise. A plan involves varied factors of different importance. Each objective should be as SMART as possible: Specific, Measurable, Achievable, Realistic, and Time-based. Forecasting provides a logical basis for anticipating the shape of the future business transactions and their requirements as to man and material. The capital required to obtain any equipment elements that are needed for the generation of income. The firm’s internal environment—such as its financial resources, technological resources, and the capabilities of its personnel and their performance—has to be examined. (ii) Adequate knowledge about the capacity of the force available through observations and experiments and from established standards. Scientific management involves all the following except a. breaking down jobs into their simplest elements. Enterprises start with a general objective. For ensuring that the selected plans are proceeding with the right lines, it is of paramount importance to devise a system of continuous evaluation and appraisal of the plan. In choosing from alternatives, the best alternative will be that which contributes most efficiently and effectively to the accomplishment of a desired goal. Planning is the synthesis of various forecasts—short-term or long-term, special or otherwise. The best strategy of planning from the competitive standpoint is to be fully informed somehow about the planning ‘secrets’ of the competitors and to prepare its own plan accordingly. In other words, procedures are the methods by means of which policies are enforced. Private insurance is an important need. Risk appetite B. Which of the following statements describes characteristics of a well-written problem statement that can help focus the staff and subsequent planning process? For successful implementation of a plan, it must be communicated to all levels of the organisation. Elements of Planning: Planning as a managerial process consists of the following elements or components: 1. As such, it should communicate that dream to your employees and customers in an inspirational manner. It is part of the job that needs to be done in connection with the general programme. The plans are formulated in the light of both external and internal factors. Planning is basically a problem of choosing. Programming involves dividing into steps the activities necessary to achieve the objectives, determining the sequence between different steps, fixing up performance responsibility for each step, determining the requirements of resources, time, finance etc. The other functions of management—organising, direction, co-ordination and control—can be performed only after the manager has formulated the necessary planning. b. It means systematized pre-thinking for determining a course of action to achieve some desired result. Principles. B. Any mistake or error in planning is sure to upset other functions of management and, thus, precision is of utmost importance in every kind of planning. The plans at each level of the organisation are made for the attainment of the appropriate objectives in the hierarchy. Budgets for various periods can be prepared to make plans more concrete for implementation. Examples of such investment may be outlays on land, building, machinery, research and development, etc. The Walt Disney Company does this: Note that the statement is both aspirational (“is to…”) and descriptive of what they do and how they do it ("through the..."). Planning also requires laying down of policies for the easy realisation of the -objectives of business. Through this system of monitoring and control, customer requirements will be met and the product or process variation will be reduced. The RBS is contained in the risk management plan. B. the products/services the firm intends to provide. Sometimes evaluation shows that more than one alternative are equally good. Content Guidelines 2. These derivative plans are formulated out of the main plan and so they support it. There are seven basic elements of a strategic plan. Elements of Control Plan. For example, if the organisational objective is profit earning, planning activity will specify how much profit is to be earned looking into all facilitating and constraining factors. There is another reason for choosing more than one alternative. It anticipates future events and sets the course of action to control these events to one’s advantage. All taxes, except payroll, paid to the appropriate government institutions. All of the following elements should be included in a project scope statement EXCEPT. It is the job of all managers in all types of organisation. There must be complete agreement among the managers in respect of planning premises over which the structure of plan is to be framed. External premises include total factors in the environment like social, political, technological, competitors’ plans and actions, government policies, etc. Planning is a structured process and different plans constitute a hierarchy. The managerial function of controlling is concerned with a comparison between the planned performance and the actual performance of the subordinates and departments of the organisation. These involve reflective thinking which signifies problem-solving thought process—a process by which past experiences are superimposed on the facts of the present situation and possible future trends. If there is only one way of doing something there is no need of planning. This is why there must be a follow-up system in the planning process itself. Thus, a company may have a programme for the establishment of schools, colleges and hospitals near about its premises along with its expanding business activities. Business forecasting refers to analysing the statistical data and other economic, political and market information for the purpose of reducing the risks involved in making business decisions and long range plans. In an organisation, there can be various derivative plans like planning for buying raw materials and equipment, developing new product, recruiting and training the personnel, etc. d. All the above are basic elements Ans: d Difficulty: Moderate Feedback: Project Planning Short Answer 82. Thus, control is exercised in the context of planning action as the standards against which actual results are to be compared are set up through planning. These methods are known as a. portfolio models. Planning has to find out several alternatives, estimate the feasibility and profitability of the different alternatives, and to choose the best one out of them. Planning requires scientific thinking and it should spell out in clear terms the definition of the purpose, analyse the problem and make a careful and diligent search for all the facts bearing upon it. Welcome to Sciemce, where you can ask questions and receive answers from other members of the community. In a big enterprise, various policies are formulated for guiding and directing the subordinates in different areas of management. Core values describe your beliefs and behaviors. 1 / 1 pts Question 5 Which is the first step of Warrick’s six-step change implementation process? 67. This gives the planning exact, definite, and accurate meaning in its scope and content. It occupies first place and precedes all other functions of management which are designed to attain the goals set under planning. No organisation can operate properly without planning. Capital . The manner in which each work has to be done is indicated by the procedures laid down. ). Report a Violation. Fire Up Your Strategic Framework for Your Organization's Success, You Can't Be a Real Leader Who People Want to Follow Without Vision. The quality of planning depends upon the abilities of the managers who are required to collect all relevant facts, analyse and interpret them in a correct way. Planning is concerned with the establishment of objectives of an enterprise and finding out the way of realisation of those objectives. It is within the planning function that goals are determined, decision-making takes place, forecasts are made and strategies are initiated. Planning has no meaning without being related to goals and objectives. A control plan is a document describing the critical to quality characteristics, the critical Xs or Ys, of the part or process. Dan McCarthy wrote about management and leadership for The Balance Careers. It defines the boundaries within which the business should operate. A business plan should do all of the following EXCEPT:? These, in turn, are supported by the specific objectives for the departments. Objectives are the goals towards which all managerial activities are aimed at. The future is uncertain. However, to plan any kind of work, the following facts demand utmost attention: (i) The nature, quality and quantity of work to be done, the best way of doing it, the time available for its accomplishment, how to do it, when it is to be done and who are to do it. It will, thus, add to the quality of planning through the knowledge of additional facts, new visions and revealing situations. Your team’s internal work style and communication preferences. Thus, various departments work in accordance with the overall plan, and co­ordination is achieved. For example, if an organisation has set its objective to grow further, it can be achieved in several ways like expanding the field of business or product line, joining with other organisations, or taking over another organisation, and so on. A structure to gather key project data and turn it into readily digestible information. Once the organization has identified and classified all of its SBUs, some method must be established to determine how resources should be allocated among the various SBUs. Read this article to learn about Planning in an Organisation. Planning ensures organisational effectiveness in several ways. The process of planning generates the purposeful and orderly setting up of activities to be carried on. Answer: A 9. At a minimum, the EAP must include the following elements: • ways to report fires and other emergencies D. the location in which the firm intends to operate. Alternative courses of action can be evaluated against the criteria of cost, risks, benefit and organisational facilities. Update: A. provide the rationale for the business. It requires a mental disposition of thinking before’ acting in the light of facts rather than guess. Policies should be consistent and must not be changed frequently. The task of planning will be well-accomplished if some fundamental principles are followed in the process. None can be a planner whose mind is not active, who does not possess any deliberate power and whose sense of judgement is not strong. Want to Understand the Basic Job Description and Duties of a Manager? This understanding provides the basis for additional knowledge about new facts and matters to the employees. If another competitor is trying to expand its customer base, it is a threat as well. It must be based on clearly defined objectives. This is so because the manager decides upon the policies, procedures, programmes, projects, etc. Planning involves all of the following EXCEPT: C. Determining rewards for goals achievement _______________ involves analyzing a situation, determining goals to be pursued and deciding upon the actions that will be taken to achieve these goals. Planning is directed towards efficiency. Harley-Davidson's vision statement focuses on keeping its brand internationally known and valued, using the combined power of its stakeholders and employees to drive value and innovation: While a vision describes how you view your business to your customers and stakeholders, a mission statement describes what you do currently. Objectives: The important task of planning is to determine the objectives of the enterprise. It often describes what you do, for who, and how. Image Guidelines 5. The Joint Fires Element can be overwhelmed and the lethal targeting and fires function can be diluted if given staff responsibility for planning and integrating all nonlethal actions (e.g., reconstruction, engagement, reconciliation, etc. Programmes are precise plans of action followed in proper sequence in accordance with the objectives, policies and procedures. Before publishing your articles on this site, please read the following pages: 1. Long-term goals are statements that drill down a level below the vision and describe how you plan to achieve it. There may be some confusion between policies and procedures. Thus, procedures mean definite steps in a chronological sequence within the area chalked out by the policies. The nature and characteristics of planning may be stated as follows: Planning is an intellectual and rational process. This enables the businessman to concentrate upon those matters which are actually relevant and vital to business success. 29. C. establish a strategy for acquiring sufficient funds. Price. However, the other business remains a threat if it pulls out of the crises. The first function of planning is to spell out its objectives. The amount of salary managers are paid usually depends on the value of the person's work to the organization and how well the person is: a. accepted by customers b. influencing the board exercising managerial authority d. discharging responsibilities 11. Budget indicates the size of the programme and involves income and outgo, input and output. They are the beliefs you have that will … It represents a programme which is possible to execute with more or less existing resources. Planning is essentially a process of deciding in advance what is to be done, when and where it is to be done, and how it is to be done, and by whom. The rules prescribe a definite and rigid course of action to be followed in different business activities without any scope for deviation or discretion. Planning is a major and primary function of management. When planning action is taken, these objectives are made more concrete and meaningful. 9. Ans: Project management is the management of the work to develop and implement an innovation or change in an existing operation. Product. Any deviation of rule entails penalty. While much more is often included in the plan, these seven elements will help you get started. Core Values. After formulating the basic and derivative plans, the sequence of activities is determined so that the plans are put into action. (iii) The priority to be given in succession for the accomplishment of different tasks through careful analysis. Every manager is required to plan first for systematic and orderly performance of his assigned duties. Definition and Meaning of Planning 2. Though a plan is prepared after reflective thinking, this does not mean that no departure can be made in the course of its operation. In fact, planning is a dynamic activity. In thinking of objectives, alternative courses of action and, above all, in making decision for choosing certain alternatives, the planner goes through an intellectual process. Planning is said to be the most basic and primary function of management. Ultimately, the choice will depend upon what is determined as the most critical factor from the point of view of the objectives of the enterprise. So, planning premises are of two types—external and internal. Identify and Live Your Personal Values for Success in Life and Work, vision statement describes the way you envision. This set of goals usually starts three years out and extends to around five years into the future, directly aligning with the mission and vision statements. Planning leads to achieve a coordinated structure of operations. depending upon the situation. O Strategic alignment. all of the above: assessments depict progress toward accomplishing the mission assessments inform cc's intent, guidance for design and planning, prioritization, and execution. It aims at smooth flow of work. This hierarchy can be built up by coordinating the plans of different departments. The more detail provided the less flexibility exists for those that follow the plan. Mention may be made here of varied operating orders and instructions which are outside of planning, but are subject to decision­ making. TOS 7. 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