MNG2601 Exam Ques ons and answers With complete
solu on | RATED A+ | 2026
Three components of planning
1 - Determine the organiza onal vision, mission and goals.
2 - Determine ways of reaching goals.
3 - Find resources.
Vision Statement
A statement of what the organiza on wants to become and where it wants to be in the future.
Mission Statement
aligns the organiza on with its vision in terms of its products and services, market and
technology. Set out the philosophy of the organiza on in terms of its values, ethics and beliefs.
Goal se(ng
are targets an organiza on drives toward and are a commitment to achieve a measurable result
within a given meframe.
Good objec ve (p215)
Expressed in quan ta ve, measurable, concrete or specific terms, in the form of a wri1en
statement if desired results.
- should be a1ainable (realis c), acceptable, congruent with one another.
Congruency
The a1ainment of one goal should not preclude the a1ainment of another goal.
A-B-C priority system
Objec ves are grouped into 3 categories:
1) A-group objec ves: must-do and are cri cal for successful performance.
2) B-group objec ves: should-do and is necessary for improved performance.
3) C-group objec ves: nice-to-do and is for improved performance but not cri cal.
80/20 principle or Pareto principle
,A minority of causes, inputs or effort tend to produce the majority of results, outputs or
rewards.
Determine ways of reaching goals (the ends-means chain of objec ves)
Bo1om-up approach - working from bo1om to top, lower management objec ves provide the
means for achieve in top-level objec ves.
We need: me, talent, financial, informa on and physical resources to a1ain goals.
Benefits of Planning
- provides direc on and helps managers focus on forward thinking.
- leads to par cipatory work environment.
- reduces the impact of change.
- sets standards by which to facilitate control.
Costs associated with planning
- May create rigidity.
- substan al amount of managerial me, energy and financial costs.
- Planning process can be reduced to a programmed rou ne, replacing intui on and crea vity.
- Delay in decision making.
Types of plans
1. Strategic plans
2. Tac cal plans
3. Opera onal plans
Strategic plans
- Top-level managers.
- establishes overall long-term objec ves, seek to posi on organiza on in terms of environment
and drive the organiza on towards a1aining overall goals.
- Specificity: broad.
Includes:
- create vision.
- translate vision into realis c mission statement.
- translate mission statement into measurable long-term goals.
- choosing strategy.
Characteris cs of strategic plans
, - extended meframe (more than 5 years).
- focus on en re organiza on.
- reconciling organiza ons strengths and weaknesses.
- crea ng and maintaining compe ve advantage.
- take synergy into considera on.
Tac cal plans
- Middle and first-like managers.
- focus on func onal areas: marke ng finance etc.
- Specify details of how medium-term objec ves are to be achieved. More specific than strategic
plans.
Opera onal plans
- Lower-level managers.
- Focus on car ng our tac cal plans to achieve opera onal goals.
- Short-term (less than one year).
- Narrowly focused.
Three basic forms of opera onal plans
1. Single-use plans
2. Standing plans
3. Individual plans
Single-use plans
Programs, projects and budgets used once to meet the need of a par cular or unique situa on.
Standing plans
Provide guidance for repeated ac ons in the organiza on. Eg: policies, procedures and rules.
Individual plans
Broader organiza onal plans that are translated at individual level. One approach to this is
management by objec ves.
Programme
Describes a set of ac vi es designed to accomplish a specific objec ve over a period of me.
Projects
Efforts of individuals or work group toward the achievement of specific well defined goals.
solu on | RATED A+ | 2026
Three components of planning
1 - Determine the organiza onal vision, mission and goals.
2 - Determine ways of reaching goals.
3 - Find resources.
Vision Statement
A statement of what the organiza on wants to become and where it wants to be in the future.
Mission Statement
aligns the organiza on with its vision in terms of its products and services, market and
technology. Set out the philosophy of the organiza on in terms of its values, ethics and beliefs.
Goal se(ng
are targets an organiza on drives toward and are a commitment to achieve a measurable result
within a given meframe.
Good objec ve (p215)
Expressed in quan ta ve, measurable, concrete or specific terms, in the form of a wri1en
statement if desired results.
- should be a1ainable (realis c), acceptable, congruent with one another.
Congruency
The a1ainment of one goal should not preclude the a1ainment of another goal.
A-B-C priority system
Objec ves are grouped into 3 categories:
1) A-group objec ves: must-do and are cri cal for successful performance.
2) B-group objec ves: should-do and is necessary for improved performance.
3) C-group objec ves: nice-to-do and is for improved performance but not cri cal.
80/20 principle or Pareto principle
,A minority of causes, inputs or effort tend to produce the majority of results, outputs or
rewards.
Determine ways of reaching goals (the ends-means chain of objec ves)
Bo1om-up approach - working from bo1om to top, lower management objec ves provide the
means for achieve in top-level objec ves.
We need: me, talent, financial, informa on and physical resources to a1ain goals.
Benefits of Planning
- provides direc on and helps managers focus on forward thinking.
- leads to par cipatory work environment.
- reduces the impact of change.
- sets standards by which to facilitate control.
Costs associated with planning
- May create rigidity.
- substan al amount of managerial me, energy and financial costs.
- Planning process can be reduced to a programmed rou ne, replacing intui on and crea vity.
- Delay in decision making.
Types of plans
1. Strategic plans
2. Tac cal plans
3. Opera onal plans
Strategic plans
- Top-level managers.
- establishes overall long-term objec ves, seek to posi on organiza on in terms of environment
and drive the organiza on towards a1aining overall goals.
- Specificity: broad.
Includes:
- create vision.
- translate vision into realis c mission statement.
- translate mission statement into measurable long-term goals.
- choosing strategy.
Characteris cs of strategic plans
, - extended meframe (more than 5 years).
- focus on en re organiza on.
- reconciling organiza ons strengths and weaknesses.
- crea ng and maintaining compe ve advantage.
- take synergy into considera on.
Tac cal plans
- Middle and first-like managers.
- focus on func onal areas: marke ng finance etc.
- Specify details of how medium-term objec ves are to be achieved. More specific than strategic
plans.
Opera onal plans
- Lower-level managers.
- Focus on car ng our tac cal plans to achieve opera onal goals.
- Short-term (less than one year).
- Narrowly focused.
Three basic forms of opera onal plans
1. Single-use plans
2. Standing plans
3. Individual plans
Single-use plans
Programs, projects and budgets used once to meet the need of a par cular or unique situa on.
Standing plans
Provide guidance for repeated ac ons in the organiza on. Eg: policies, procedures and rules.
Individual plans
Broader organiza onal plans that are translated at individual level. One approach to this is
management by objec ves.
Programme
Describes a set of ac vi es designed to accomplish a specific objec ve over a period of me.
Projects
Efforts of individuals or work group toward the achievement of specific well defined goals.
