Principles Of Management

The term "formal" accurately describes the characteristics mentioned in the question. When a group or organization has a formal structure, it means that there are clear rules, procedures, and hierarchies in place. This allows for a more organized and efficient approach to achieving shared goals. Additionally, a formal setting typically involves written documentation, such as contracts or agreements, which helps ensure clarity and accountability. Overall, the use of the term "formal" aligns with the key attributes of written, specific, long-term focus, and involves shared goals.

Planning serves multiple purposes, including providing direction by setting goals and objectives for an organization or individual. It also helps to reduce uncertainty by anticipating potential challenges and developing strategies to overcome them. Additionally, planning minimizes waste and redundancy by ensuring resources are allocated efficiently and effectively. Lastly, planning sets the standards for controlling, allowing for the evaluation and adjustment of progress towards goals. Therefore, the correct answer is "all of the above."

Long term plans refer to strategies and goals that are designed to be achieved over a period of time extending beyond three years. These plans are typically used by organizations to set their vision and objectives for the future and to outline the steps and actions needed to reach those goals. Unlike short term plans, which focus on immediate actions and results, long term plans provide a roadmap for sustained growth and success in the long run. They often involve comprehensive analysis, forecasting, and consideration of various factors that may impact the organization's performance over an extended period.

Planning is a managerial function that involves defining an organization's goals, establishing strategies for achieving those goals, and developing a comprehensive set of plans. It is a process that helps managers anticipate future challenges, set objectives, and determine the best course of action to achieve those objectives. By encompassing all of the options provided in the answer choices, "all of the above" accurately captures the various components and importance of planning in an organization.

Single use plans are designed to address a specific situation or problem that is not expected to be repeated in the future. These plans are created for a one-time use and are not meant to be used repeatedly or on a long-term basis. They are developed to meet the unique needs and requirements of a particular situation, providing a tailored approach to problem-solving or decision-making. Unlike standing plans or long-term plans, single use plans are temporary and are typically discarded once the situation they were created for has been resolved.

Informal refers to something that is not written down or documented. It also implies a lack of structure or formality. In this context, the term "not written down" suggests that the focus or goals are not documented or communicated in a formal manner. Additionally, the phrase "specific to an organizational unit" indicates that the focus is limited to a particular department or team within the organization. Therefore, the term "informal" accurately describes the given characteristics.

Goals refer to the desired outcomes that individuals, groups, or organizations aim to achieve. They provide a sense of direction and purpose, guiding actions and decisions towards the desired results. Plans, strategic plans, and operational plans are methods or strategies that are developed to help achieve these goals. The progress chain refers to the process of tracking and measuring the progress made towards the goals.

Directional plans are flexible plans that set out general guidelines and provide focus, yet allow discretion in implementation. These plans provide a general direction or vision for the organization without specifying detailed actions or steps. They give managers the freedom to adapt and make decisions based on the specific circumstances and context. Directional plans are often used in dynamic and uncertain environments where flexibility and adaptability are crucial. They provide a framework for decision-making and help align the organization towards common goals while allowing for adjustments and changes as needed.

Operational plans are detailed plans that specify the actions and tasks required to achieve the overall goals of an organization. These plans cover a short time period and provide specific guidance on how to accomplish the objectives. They are well designed and serve as a means-ends chain, connecting the strategic plans with the day-to-day activities. Operational plans are an essential component of the management by objectives (MBO) approach, as they outline the steps and resources needed to execute the strategic plans effectively.

Specific plans are clearly defined and leave no room for interpretation. These plans outline specific actions, objectives, and goals to be achieved within a defined timeframe. They provide clear guidance and instructions to individuals or teams on what needs to be done and how it should be done. Unlike directional plans or standing plans, which provide general guidance or guidelines, specific plans are detailed and precise, ensuring that there is no ambiguity or confusion in understanding and implementing them. Therefore, specific plans are the most appropriate choice when there is a need for clear and unambiguous instructions.

The given answer "plans" is correct because plans are documents that outline how goals are to be accomplished. They provide a roadmap or a blueprint for achieving objectives. Plans can be strategic, focusing on long-term goals and overall direction, or operational, focusing on specific actions and tasks to be carried out. They help in organizing and coordinating efforts, ensuring that resources are allocated effectively, and progress is made towards the desired outcomes.

The correct answer is "informal and formal." Informal planning refers to the process of making decisions and setting goals without following a specific structure or format. It is often flexible and adaptable. On the other hand, formal planning involves following a structured approach, using standardized methods and techniques to develop detailed plans. Both types of planning have their own advantages and are used in different situations depending on the organization's needs and requirements.

Strategic plans are a type of organizational plan that outlines the long-term goals and objectives of an entire organization. These plans are designed to guide the overall direction and decision-making processes of the organization. Unlike operational plans, which focus on specific activities and tasks, strategic plans provide a broader perspective and help establish the goals and priorities that will shape the organization's future. By applying strategic plans, organizations can align their resources, allocate budgets, and make strategic decisions that will enable them to achieve their desired outcomes.

Formal planning is associated with high profits and returns on assets. This type of planning involves a structured and systematic approach to setting goals, developing strategies, and allocating resources. It helps organizations to identify potential risks and opportunities, make informed decisions, and optimize their performance. By following a formal planning process, businesses can enhance their efficiency, effectiveness, and financial outcomes, leading to higher profits and returns on assets.

The correct answer is means ends chain. This term refers to the integrated network of goals that is created when a clearly defined hierarchy of organizational goals is established. In this chain, the means goals are the intermediate objectives that need to be achieved in order to reach the ends goals, which are the ultimate objectives of the organization. This concept highlights the interconnectedness and interdependence of goals within an organization, where each goal serves as a means to achieve a higher-level goal.