Essentials of Contemporary Management Study Set 5
Quiz 4 :
Managing Planning and Strategy
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Q57 Q57 Q57
In order to write a concise statement of the organization's mission, a manager must first answer the question: "What business are we in and what business should we be in?" Discuss the three question areas that must be answered by a manager in order to define the organization's business, and write a mission statement.
Q74 Q74 Q74
An example of contingency planning is when shell oil generated multiple scenarios about conditions in the world oil market that might prevail in the future, and then developed plans of what the company should do in the event that any of these scenarios actually occurred.
Q113 Q113 Q113
The five steps in the planning process are: determining the vision, mission and major goals of the organization; analyzing the forces in the environment; formulating strategies to accomplish goals; implementing those strategies; and evaluating the success of the strategy in achieving the mission and goals.