chapter 7 - 1 Identify and discuss the four reasons for...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
1. Identify and discuss the four reasons for planning. Answer: 1. Planning provides direction to managers and nonmanagers. 2. Planning reduces uncertainty by forcing managers to look ahead, anticipate change, consider the impact of change, and develop appropriate responses. 3. Planning minimizes waste and redundancy. 4. Planning establishes goals or standards used in controlling. 2. Differentiate between strategic plans and operational plans and give an example of each. Answer: Strategic plans apply to the entire organization, establish the organization's overall goals, and seek to position the organization in terms of its environment. Operational plans specify the details of how the overall goals are to be achieved. A strategic plan might describe how a restaurant might plan to increase its local market share in terms of pizza sales. An operational plan might be to send coupons to households within the restaurant's delivery area to encourage locals to try and continue to purchase pizza from the restaurant.
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern