What does planning, a function of management, involve? Monitoring employee performance Coming up with policies and procedures of the company Delegating tasks to employees Evaluating financial reports

Coming up with policies and procedures of the company

What is the difference between policies and procedures? Policies are for long-term goals, while procedures are for short-term tasks. Policies are detailed steps, while procedures are general guidelines. Policies are boundaries within which you must operate, while procedures are chronological sequences of activities. Policies are optional, while procedures are mandatory.

Policies are boundaries within which you must operate, while procedures are chronological sequences of activities.

What are the different types of planning in management? Human resources, marketing, and production planning Short-range, long-range, and strategic planning Risk management, quality control, and project planning Financial, operational, and tactical planning

Short-range, long-range, and strategic planning

Describe short-range planning in management. Focused on immediate tasks and daily operations. Up to 5 years, focusing on performance improvement and specifying goals. 1 year or less, usually involving the operational budget such as labor and food. More than 5 years, involving strategic goals and mission statements.

1 year or less, usually involving the operational budget such as labor and food.

Describe long-range planning in management. 1 year or less, focusing on daily operations and immediate tasks. Focused on risk management and quality control. Up to 5 years, focusing on performance improvement, specifying goals and objectives, and translating them into work programs. More than 5 years, involving strategic goals and mission statements.

Up to 5 years, focusing on performance improvement, specifying goals and objectives, and translating them into work programs.

Describe strategic planning in management. Focused on daily operations and immediate tasks. Primarily concerned with financial planning and budgeting. Involves setting short-term goals and objectives. Best way to accomplish long-term goals, focusing on identifying and resolving issues such as strengths, weaknesses, opportunities, and threats.

Best way to accomplish long-term goals, focusing on identifying and resolving issues such as strengths, weaknesses, opportunities, and threats.

What is the difference between a mission and a vision statement? Mission is about financial goals, while vision is about operational goals. Mission is about future aspirations and goals, while vision is about the core purpose and present actions. Vision is about short-term objectives, while mission is about long-term goals. Vision is about future aspirations and goals, while mission is about the core purpose and present actions.

Vision is about future aspirations and goals, while mission is about the core purpose and present actions.

What is the main purpose of organizing as a function of management? Monitoring employee performance Evaluating financial reports Dividing tasks into positions by making the organizational chart Setting long-term goals and objectives

Dividing tasks into positions by making the organizational chart

What does an organizational chart show? The communication channels The financial hierarchy The degree of authority The relationship of positions and functions

The relationship of positions and functions

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