Planning

Question 1

involves writing down the organization’s vision, mission and goals

Answer 1

planning process

Question 2

The inspiration and aspiration of the owner/founder of the business are reflected in the________

This serves as a motivation to the employees in their job performance because they understand the reason behind the things they work for.

Answer 2

V-M-G

Question 3

• refers to the ultimate reason for the existence of the business. This shall provide the direction for all employees.

Answer 3

VISION

Question 4

• a statement of what the organization does in order to realize its vision

Answer 4

MISSION

Question 5

• these are what the company desires to achieve.

Answer 5

GOALS

Question 6

THE IMPORTANCE OF GOALS AND PLANS

Answer 6

• Guides for decisions
• Guides to action
• Standard of performance

Question 7

• A desired future state that the organization attempts to realize.

Answer 7

GOAL

Question 8

• A blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals.

Answer 8

PLAN

Question 9

determining the organization’s goals and the means for achieving them the most fundamental management function

Answer 9

PLANNING

Question 10

• What the organization stands for reason for being
• Symbolizes legitimacy
• Employees identify with overall purpose

Answer 10

LEGITIMACY

Question 11

• Employees’ identification with the organization
• Motivate by reducing uncertainty

Answer 11

SOURCE OF MOTIVATION AND COMMITMENT

Question 12

• Provide a sense of direction; focus attention on specific targets
• Direct efforts toward important outcomes

Answer 12

GUIDES TO An ACTION

Question 13

• Learn what the organization is trying to accomplish
• Make decisions to ensure that internal policies, roles, performance, structure, products, and expenditures will be made in accordance with desired outcomes

Answer 13

RATIONALE FOR DECISIONS

Question 14

• Serve as performance criteria
• Provide a standard of assessment

Answer 14

STANDARD FOR PERFORMANCE

Question 15

= organization reasons for existing

Answer 15

MISSION

Question 16

Broadly states the basic business scope and operations that distinguishes it from similar types of organizations

• May include the market and customers

• Some may describe company values, product quality, attitudes toward employees

Answer 16

MISSION STATEMENT

Question 17

• Where the organization wants to be in the future
• Pertain to the organization as a whole

Answer 17

GOALS

Question 18

• Action steps used to attain goals
Blueprint that defines the org

Answer 18

PLANS

Question 19

CHARCATERISTICS OF EFFECTIVE GOAL
SETTING

Answer 19

• Specific and Measurable
• Challenging but realistic
• Defined time period
• Linked to rewards

Question 20

Single use plans

Answer 20

Program
Project

Question 21

is a complex set of obiectives and plans to achieve an important, one-time organizational goal (ex. Expansion)

Answer 21

program

Question 22

is similar to a program, but generally smaller in scope and complexity (ex. Putting up a new building and facilities)

Answer 22

project

Question 23

Policy
Rules
Procedures

Answer 23

STANDING PLANS

Question 24

is a general guide to action and provides direction for people within the organization

Answer 24

policy

Question 25

describe how a specific action is to be performed

Answer 25

Rules

Question 26

define a precise series of steps to be used in achieving a specific job

Answer 26

Procedures

Question 27

Specific situations - unexpected conditions

Answer 27

CONTIGENCY PLANS

Question 28

Contingency plans

Answer 28

Identify uncontrollable factors Minimize impact of uncontrollable factors

Question 29

• Economic turndown • Declining Markets • Increases in cost of supplies • Technological developments • Safety Accidents

Answer 29

IDENTIFY UNCOTROLLABLE FACTORS

Question 30

• The word refers to becoming successful in attaining a desired end or aim

Answer 30

ACHIEVEMENTS

Question 31

ACHIEVEMENT CLUSTER

Answer 31

• Opportunity Seeking • Persistence • Commitment to the work contract • Risk-Taking • Demand for efficiency and quality

Question 32

• The entrepreneur seeks and acts on new business opportunities, seizes unusual circumstances to obtain financing, equipment, land, workspace, or assistance

Answer 32

OPPORTUNITY SEEKING

Question 33

• The entrepreneur takes repeated or different actions to overcome obstacles, make personal sacrifice or extraordinary effort to complete a job and hold to his/her own judgement in the face of opposition or early lack of success

Answer 33

PERSITENCE

Question 34

• The entrepreneur accepts full responsibility for problems in completing a job for customers, pitches in with the workers, or work with them to get a job done on time, express close concern for satisfying the customers and make deliveries of goods and services right on schedule

Answer 34

COMMITMENT TO THE WORK CONTRACT

Question 35

• An entrepreneur is a risk taker not in a context of speculation and gambling but in the organization of human and nonhuman resources in the attainment of objectives

Answer 35

RISK TAKING