Executive MBA Functions of Management — practice questions
22 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice Executive MBA Functions of Management in the app →Planning is best described as deciding in advance:Planning seeks to bridge the gap between where we are and:A firm sets goals so employees know what to do and work in one direction. This benefit is that planning:By anticipating change and preparing responses, planning:Planning gives the goals against which actual performance is measured, so it is a prerequisite for:Because all other managerial functions are performed within the framework of plans, planning is called the:Top management plans for the whole firm while supervisors plan day to day. This shows planning is:Planning looks ahead and is based on forecasting, which makes it:If only one course of action existed, there would be no need to plan because planning involves:Planning requires foresight, imagination and sound judgement, so it is called a:A well-defined plan that managers cannot change when conditions shift shows that planning leads to:Because top management makes the plans and others merely implement them, planning may:Boardroom meetings, expert consultations and preliminary investigations mean planning:A plan that worked before may not work again, which shows planning:The first step in the planning process is:The assumptions about the future on which plans are built are called:A plan developed for a one-time event or project, not likely to be repeated, is a:Policies, procedures, methods and rules are examples of:A comprehensive plan that sets long-term objectives, adopts a course of action and allocates resources is a:A general statement that guides thinking, such as a recruitment or pricing policy, is a:Specific statements that allow no flexibility or discretion, such as reporting for work on time, are:A statement of expected results expressed in numerical terms is a: