FREE Business Education Basic Question and Answers
What is Strategic planning?
The strategic plan is a long plan with the objective of improving strategy creation and implementation to meet corporate objectives and maintain competitive advantage. It outlines an organization's future course, how it will get there, and how it will determine whether it has arrived.
What is Planning?
The core job of management is planning, which is choosing in advance what needs to be done, when it needs to be done, how it should be done, and who will do it. It is an intellectual process that establishes an organization's goals and creates numerous action plans to help the organization reach those goals. It lays out precisely how to achieve a particular objective.
What characteristics best describe a flexible (or laissez-faire) manager?
In French, the concept of allowing people self-govern and make decisions about their behavior is known as laissez-faire. Simply said, "leave alone" is the translation. Originally used to characterize unregulated marketplaces, it is based on the idea that when people are free to do business as they see fit, it works best for everyone. Since then, the laissez-faire philosophy has affected social norms and leadership styles in many workplaces in addition to economics.
What is a democratic management style like?
A democratic management style is characterized by the division of labor between the leader and his subordinates in terms of authority, initiative, and even accountability. The manager's interest in staff opinions is a key element. Collegial decisions are made in instances involving complex manufacturing. A democratic management style indicates that timely information is provided on all significant topics, in one way or another, relevant to the operation of the organization, within the course of ongoing contact and discussion.
True or False: Planning is one managerial position in the company process.
Planning Making a strategy to achieve business goals and objectives is one of a manager's primary responsibilities. This entails allocating human resources, assigning duties, and establishing reasonable completion dates and criteria.
What would you call a management style that is authoritarian or controlling?
With no willingness to receive input, the authoritarian leader makes all the choices and assigns the responsibilities themselves in this leadership style. Employees under this leader will be checked more frequently and harshly, and they will never be included in important decisions.
True or False: A plan is a suggested strategy to utilize in order to accomplish the organization's goals and objectives.
The process of determining a company's purpose for being, identifying objectives targeted at attaining its full potential, and developing progressively distinct duties to achieve those objectives is known as organizational planning. Every planning stage is a subset of the one before it, with strategic planning being the most important.