Answered: Planning offers three important…

Business

Management

Planning offers three important benefits. They are intensified effort, synergy, and direction. 1. True 2. False

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Q: Look at the question below

A: Setting deadlines assist people in accomplishing their goals in a restricted amount of time. A goal…

Q: One of the reasons that planning and strategic management are important is because they provide…

A: Strategic management is a management practice through which the management set up specific…

Q: How does a manager balance the need for flexibility in their plan with the need for clear and…

A: A manager faces the challenge of balancing the need for flexibility in their plan with the need for…

Q: What is planning like at JYSK?

A: JYSK is an abbreviation of just you so know. JYSK is a Denmark based international brand that serves…

Q: IE #3: LIE #3 THE BEST COMPANIES CASCADE GOALS How does Lie & Truth #3 correlate with the chapters…

A: “Since you have posted a question with multiple sub parts, we will provide the solution only to the…

Q: How the mission and vision statements describe the company's path?

A: Strategic planning is described as a means of establishing and documenting direction of an…

Q: There are six broad contemporary factors in planning. please outline for Stan, any three factors…

A: Selecting a model by using the right approach will help in completing the work with efficiency, so…

Q: In which step of the planning process would one know where one is placed in reaching the goals, and…

A: A small quantity of products is a small lot. She remains to her small lots because her products are…

Q: Effective planning is a cornerstone of success in both personal and professional spheres. It…

A: The term" effective planning" generally refers to the process of developing and enforcing…

Q: 'Planning is the basic function of management. Comment.

A: The profession of management involves organizing a company's actions and resources to achieve…

Q: Planning is the primary function of management as it establishes the platform for all the other…

A: Concept Introduction :- Planning is the central function of management, which helps in determining…

Q: "The strategic management as a management philosophy is reflected in the structure of plans. Discuss…

A: The statement that "The strategic management as a management philosophy is reflected in the…

Q: What is the difference between the two methods of planning? Do you believe strategic and operation…

A: Planning This is the primary/first function of management. This step includes all of the activities…

Q: How to revise the statement based on FAST goals?

A: SMART stands for Specific, Measurable, Achievable, Relevant and Time-bound. Whenever you choose to…

Q: What role does data-driven decision-making play in the planning process, and how can managers…

A: Data-driven decision-making is an approach to making informed choices and solving problems that…

Q: What are the things that can attain by a manager through good planning?

A: Planning Planning is nothing but the approach of thinking regarding the activities needed to obtain…

Q: 1. What is the role of the SWOT Analysis in your strategic plan? 2. How about risk management? What…

A: Strategic planning is described as the means through which leaders in an organization determine the…

Q: What is strategy? How is it developed and how does it support the vision?

A: Strategic development refers to the process that is concerned with analyzing the business…

Q: "Planning is doing the work to attain goals," as the saying goes. Do you fully agree? Give…

A: Management is a social activity that entails the requirement to plan and oversee an organization's…

Q: What are the techniques and tools used in developing effective plans, such as SWOT analysis, PESTEL…

A: Developing effective strategies is essential to the success of any business. It entails analyzing…

Q: After the outreach program, what feels and what do you think when planning really becomes memorable

A: After the outreach program when everything goes according to the plan and activities are well…

Q: Planning as a management function is traditionally carried out by managers with deep levels of…

A: ''Question is subjective, hence solution is given in general'' INTRODUCTION: The planning function…

Q: Although ‘planning’ seems to take a lot of efforts, why is it so important for managers to plan? Why…

A: Planning is the way toward pondering and coordinating the exercises needed to accomplish an ideal…

Q: Answer the following questions.1. Why is planning an important activity for engineer managers?2. How…

A: Top-level management is described as a level of management that includes the managing director,…

Q: ffective planning is a cornerstone of success in various aspects of life, be it personal,…

A: Effective planning refers to the process of setting goals, determining the most efficient and…

Q: In the medium term, what does planning and management entail?

A: Control and preparing are inextricably linked such that strategy involves establishing objectives…

Q: What is a mission statement? What is a SWOTanalysis? What role do these play in the planningprocess?

A: strategy means identifying or deciding the basic mission of a company, the goals and objectives…

Q: planning

A: Longg term planning: Long-term planning entails setting goals that take more time and effort to…

Q: Explain in your own words the following: the greater the uncertainty, the greater the need for…

A: Planning refers to the process of thinking ahead and preparing for future events or activities. It…

Q: Why and/or why not are planning and strategy both similar and different and do you believe that good…

A: Planning and strategy are often used interchangeably however there lies a small yet important…

Q: Consider you are the new development manager taken charge by Monica and suggest the management with…

A: Ans: Folkhälsan is a nonprofit healthcare centre in finland and this healthcare centre has a need…

Q: "The strategic management as a management philosophy is reflected in the structure of plans .…

A: Introduction: Strategic Management: The term ‘strategic management’ is used to refer to the art and…

Q: How do strategies form in organizations? Research into the question is necessarily shaped by the…

A: Henry Mintzberg introduced 5 strategic visions for organizations that specify the implementation of…

Q: Why does planning sometimes fail in spite of the best efforts of Management? Give reasons.

A: Management is necessary for a well-organized life and is necessary for the operation of all sorts of…

Q: Edwin recently graduated with his honours qualification in Financial Management and wants to open up…

A: In general terms, planning means to decide in advance what is to be done in advance in order to…

Question

Planning offers three important benefits. They are intensified effort, synergy, and direction.

1. True

2. False

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1 Introduction :-

VIEW

Step 2 Explanation :-

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Planning is a fundamental aspect of achieving goals and navigating through life's complexities. Whether it's outlining a career path, organizing a social event, or strategizing for a business venture, effective planning provides a roadmap for success. It involves setting objectives, identifying resources, and establishing a sequence of actions to reach desired outcomes. A well-thought-out plan not only enhances efficiency but also minimizes uncertainties, enabling individuals and organizations to adapt and respond effectively to challenges. In essence, planning is the bridge between aspirations and accomplishments, turning dreams into tangible reality. How can individuals strike a balance between meticulous planning and the flexibility needed to navigate unexpected obstacles?
What are the consequences of not embracing a new paradigm of planning or dynamic strategy making?
Discuss the importance of planning as a primary management function. Then...
Discuss one Characteristics of Tactical Planning and explain why this is important in the process? Elaborate and give example to support your discussion.
Planning is the essence of management . Explain.
1. How important is planning to organization managers? 2. How do you plan to reach your goals?
People frequently confuse a mission statement and a vision statement. However, there is a clear difference. What is it?
b. Why in planning a business a strategy is needed in planning from the beginning until the business has been running, explain. c. Explain what ideas can arise related to today's technological advances
A business plan is like the backbone for any business. Explain
Assuming that you own a computer shop, you have a good plan in your mind that you want to implement that can benefits your business. How can your plan/strategy convert into action? Can you explain the step-by-step process?
SHORT ANSWER If you were a business owner, which of these goals might you be able to accomplish using the framework of Theory Z or Theories X and Y? Could you use Theory Z to work on one goal and use Theories X and Y to work on another goal, thereby accomplishing two goals with these theories by using a different approach on each of the two goals? Goal 1: Improve quality of a product or service. Goal 2: Improve employee collaboration. Goal 3: Foster decision making skills in the workforce. Goal 4: Develop and maintain a successful workforce in a global environment. Goal 5: Develop strong leadership in the work place. Goal 6: Foster adherence to organizational values, ethics, and professional responsibility.
"Contemporary business organizations need to allocate more time on planning." Examine this statement using examples