Supervisors are primarily involved inO strategicoperationalObudgetaryplanning. In order for MBO to work effectively, organizations must have a good deal of trust inits supervisors becausesupervisors are involved in setting their own goalsmid-level managers fully create the goals for their supervisorssupervisors set their own goals way too high

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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

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Some of the major decisions management must take concern the behavior of sales, costs and profits under varying conditions. For effective planning and control it is important that management should be aware of any relationship which exists between sales, costs and profits for changing levels of activity. Management makes use of the information provided by the accounting system to plan and control future operations. The information, to be meaningful, must be provided and presented in such a way that it will appeal to management. Break even analysis and Cost-Volume- profit-Analysis are some of the ways in which information concerning sales, costs and profits relationship is presented to management in a clear and appealing form Required: a). Discuss how break even analysis can aid management in decision making b). Discuss the practical difficulties associated with the…
31. Summarize why controls are needed in purchasing, receiving, and storage to help safeguard the foodservice operation's assets.
Why is it beneficial to have knowledge of the operation of business planning systems and resources, resource availability, including the processing capacity of equipment and software systems for planning activities?
Briefly state two (2) of the roles of strategic management for an operational firm.
Opportunities and threats are: a) identified as part of the firm's tactical planning process. b) factors that are external to the firm but can still affect its performance. C) factors that are internal to the firm and those over which the firm has a great deal of control. d) dealt with primarily in a firm's operational planning process.
PRODUCTION COSTS 1- EXPLAIN THE BASIS OF INTERNAL CONTROL. 2- EXPLAIN THE ELEMENTS OF INTERNAL CONTROL IN RELATION TO THE ORGANIZATIONAL PLAN.
The operational risk management process aims to provide a structured approach torisk management. Briefly outline any four components of a typical risk managementprocess.
3) Identify the major difference between traditional objective setting and management by objectives.
One of the functions of operational management is to do it differently. Using instances, address the other five operational control roles of an organisation
For you, what is the main hindrance of Operational audit?
Explain why budget plans must be linked to operational objectives
Discuss how planners in charge managed against the challenges they face in the use of collaborative planning

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Supervisors are primarily involved in strategic operational budgetary planning.