Define objectives. Give an example of a company?
Identify the specific results or desired outcomes that one intends to achieve
what is a plan?
A statement of action where steps are to be taken in order to accomplish objectives
What are the five steps in the planning process.
2-determining where the group stands with objectives
3-making premises for future conditions
4-Analyzing alternatives and making a plan
5-I mplementing plan & evaluating results
State three benefits of planning.Think of a business or personal example for each benefit?
1-Improves time Management: Setting and keeping up with deadlines
2-Improves action orientation:staying ahead of the competition; not falling behind
3-Improves focus: makes task get done quicker without being distracted
Differentiate between long range, intermediate-range and short range plans.
Long Range: In most cases the time allotted for this range is 3-5 years, however there are cases where it can take up to twenty years in time.
Intermediate Range: Can take up 1-3 years or 1-5 years.
Short Term Range: Can take up to one year.
What is the difference between strategic, tactical and operational plans? Provide examples for each
Strategic Plans: These plans are extensive and long rage meaning they take quite a long time to finish. Also, these types of plans are mostly created by the higher levels of management, to provide the company with an overall direction as to where they’re headed. An example of this planning includes: launching a product into another country (foreign).
Tactical Plans: These plans are used to implement all or parts of the strategic planning. This type of planning makes intermediate plans which specify how the organizations resources can help implement the strategies into action. Sometimes these plans include how and in what ways the company as whole contributes to the overall strategy. An example of this includes: production, financial, marketing, human resources, etc.
Operational Plans: These plans use short term planning to implement the strategic plans. An example of this includes: hiring employees in a new country.
What is a policy? Provide an example.
Standing plans which communicate guide lines for decision making - Having an anti-discrimination policy
What is a procedure? provide an example.
Rules describing actions that need to be taken in specific situations - Steps that should be taken when experiencing discrimination