They include specific, day-to-day operational tasks needed to run a business and that help drive scalability and business growth. Key organizational goals can also include employee and management performance, productivity, profitability, innovation, market share and social responsibility goals.
What is a plan that translates general goals developed by strategic managers into more specific objectives and activities?
Business ch 6-10
| Question | Answer |
|---|---|
| Tactical Plan | Plan that translates general goals developed by strategic managers into more specific objectives and activities. |
| Contingency Plan | Plan that establishes alternate courses of action if existing plans are disrupted or become ineffective. |
What is a strategic goal in business?
Strategic goals are the specific financial and non-financial objectives and results a company aims to achieve over a specific period of time, usually the next three to five years. Strategic goals are important because they: Drive priority setting, resource allocation, capability requirements and budgeting activities.
What is line authority and how does it look on an organizational chart?
03 Lesson – Review Business Operations and Organizational Structures
| A | B |
|---|---|
| Unity of Command- | clear reporting relationship for all staff of a business |
| What is line authority, and how does it look on an organizational chart? | Line authority can be traced in a line from the top of an organization to the bottom. |
What is in a strategic plan?
A strategic plan consists of five key components: a vision statement, a mission statement, goals and objectives, an action plan, and details on how often the strategic plan will be reviewed and updated. When you’re creating goals and objectives for your business, make sure they’re realistic and measurable.
Which is true about managers in progressive organizations?
Managers in progressive organizations tend to emphasize teamwork and cooperation rather than discipline and giving orders. True 8. Despite all of the changes in the business environment, the basic way a manager performs his or her job has remained remarkably constant. False 9.
Which is true about the leading management function?
One trend of the “leading” management function is to empower employees, giving them as much freedom as possible to become self-directed and self-motivated. True 16. Leading is the management function of designing the structure of the organization so that everyone can function together. False 17.
Which is true about modern management in business?
9. Given the lack of discipline and short attention spans of today’s workers, modern managers must watch their workers closely, set strict rules, and vigorously enforce policies. False
Why is planning a key function of Management?
21. Planning is a key management function because other management functions depend on having a good plan. True 22. Managers focus on making efficient use of their organization’s human resources, but leave decisions about the efficient use of other resources such as buildings, machinery, and supplies to engineers and accountants.
