MGT 8803 COMPREHENSIVE EXAMS ANSWERS AND
QUESTIONS SET A+
Planning is the _ form of management - ✔✔primary
✔✔business model - ✔✔how the firm is configured to create profitable revenue streams
✔✔The business model is the end result of... - ✔✔strategic decisions and trade-offs
made by senior managers over time
✔✔Analysis can _ uncertainty - ✔✔reduce
✔✔Planning - ✔✔the process of anticipating future events and determining strategies to
achieve organizational objectives in the future; includes defining goals, establishing
strategies, and developing plans to coordinate activities
✔✔Organizing (and Staffing) - ✔✔Process of ensuring that the necessary human and
physical resources are available to achieve the planning goals; Includes determining
what tasks to be done, who is to do them, how the tasks are to be grouped, who reports
to whom, and where decisions are to be made. Also includes recruiting, selecting,
training, and performance evaluation
✔✔Leading - ✔✔inspiring and motivating workers to work hard to achieve
organizational goals; includes motivating employees, directing the activities of others,
selecting the most effective communication channel and resolving conflicts
✔✔Controlling - ✔✔monitoring performance, comparing it with goals, and taking
corrective action as needed
✔✔Management Process - ✔✔planning, organizing, leading, and controlling the use of
resources to accomplish performance goals
✔✔Hierarchy of Plans - ✔✔planning flows in a top-down sequence from overall vision,
mission, and objectives to more specific detailed level of plans (strategic goals ->
, strategic plans -> tactical goals -> tactical plans -> operational goals -> operational
plans)
✔✔context for planning - ✔✔general environmental factors, suppliers, competitors,
regulators, partners and shareholders, customers, communities
✔✔Why is planning important? - ✔✔1. Planning is necessary to give the organization a
sense of direction and purpose
2. Planning is a useful way of getting managers to participate in decision making about
the appropriate goals and strategies for an organization
3. A plan helps coordinate managers of the different functions and divisions of an
organization to ensure that they all pull in the same direction and work to achieve its
desired future state
4. A plan can be used as a device for controlling managers within an organization
✔✔Types of Plans - ✔✔strategic, tactical, operational
✔✔Types of organizational structures - ✔✔hierarchical (tall), flat (networked)
✔✔Hierarchical Organizational Structure - ✔✔an organization form or structure based
on the concepts of division of labor, specialization, spans of control and unity of
command
✔✔Flat Organizational Structure - ✔✔An organizational structure that has only a few
levels of management and emphasizes decentralization
✔✔Levels of Management - ✔✔top managers, middle managers, first-line managers,
team leaders
✔✔Most common plans - ✔✔strategic planning (corporate, business unit, and
functional)
functional planning
tactical/operational planning (work plans, schedules, etc.; responsible typically for
budgeting and scheduling)
✔✔Strategic Plans - ✔✔plans that apply to the entire organization and establish the
organization's overall goals; aim for competitive advantage
✔✔Strategic Business Unit (SBU) - ✔✔a subgroup of a single business or collection of
related businesses within the larger organization
✔✔Functional Plans - ✔✔indicate how different operations within the organization will
help advance the overall strategy; aligned to Business Unit Level Planning
QUESTIONS SET A+
Planning is the _ form of management - ✔✔primary
✔✔business model - ✔✔how the firm is configured to create profitable revenue streams
✔✔The business model is the end result of... - ✔✔strategic decisions and trade-offs
made by senior managers over time
✔✔Analysis can _ uncertainty - ✔✔reduce
✔✔Planning - ✔✔the process of anticipating future events and determining strategies to
achieve organizational objectives in the future; includes defining goals, establishing
strategies, and developing plans to coordinate activities
✔✔Organizing (and Staffing) - ✔✔Process of ensuring that the necessary human and
physical resources are available to achieve the planning goals; Includes determining
what tasks to be done, who is to do them, how the tasks are to be grouped, who reports
to whom, and where decisions are to be made. Also includes recruiting, selecting,
training, and performance evaluation
✔✔Leading - ✔✔inspiring and motivating workers to work hard to achieve
organizational goals; includes motivating employees, directing the activities of others,
selecting the most effective communication channel and resolving conflicts
✔✔Controlling - ✔✔monitoring performance, comparing it with goals, and taking
corrective action as needed
✔✔Management Process - ✔✔planning, organizing, leading, and controlling the use of
resources to accomplish performance goals
✔✔Hierarchy of Plans - ✔✔planning flows in a top-down sequence from overall vision,
mission, and objectives to more specific detailed level of plans (strategic goals ->
, strategic plans -> tactical goals -> tactical plans -> operational goals -> operational
plans)
✔✔context for planning - ✔✔general environmental factors, suppliers, competitors,
regulators, partners and shareholders, customers, communities
✔✔Why is planning important? - ✔✔1. Planning is necessary to give the organization a
sense of direction and purpose
2. Planning is a useful way of getting managers to participate in decision making about
the appropriate goals and strategies for an organization
3. A plan helps coordinate managers of the different functions and divisions of an
organization to ensure that they all pull in the same direction and work to achieve its
desired future state
4. A plan can be used as a device for controlling managers within an organization
✔✔Types of Plans - ✔✔strategic, tactical, operational
✔✔Types of organizational structures - ✔✔hierarchical (tall), flat (networked)
✔✔Hierarchical Organizational Structure - ✔✔an organization form or structure based
on the concepts of division of labor, specialization, spans of control and unity of
command
✔✔Flat Organizational Structure - ✔✔An organizational structure that has only a few
levels of management and emphasizes decentralization
✔✔Levels of Management - ✔✔top managers, middle managers, first-line managers,
team leaders
✔✔Most common plans - ✔✔strategic planning (corporate, business unit, and
functional)
functional planning
tactical/operational planning (work plans, schedules, etc.; responsible typically for
budgeting and scheduling)
✔✔Strategic Plans - ✔✔plans that apply to the entire organization and establish the
organization's overall goals; aim for competitive advantage
✔✔Strategic Business Unit (SBU) - ✔✔a subgroup of a single business or collection of
related businesses within the larger organization
✔✔Functional Plans - ✔✔indicate how different operations within the organization will
help advance the overall strategy; aligned to Business Unit Level Planning
