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What are the components of planning in the management?
Planning in a management position may include writing the schedule for when employees will work. Planning may also involve events, specials, and how to spend money in the business.
Importance of decision making?
The importance of decision making is that it helps in planning for the next course of action. In business, good decisions will yield great returns on investment.
Why should top executives in a company be responsible for strategic planning but involve lower level managers and employees in the planning process?
Top executives are responsible for strategic planning because they set the overall vision and direction of the company, aligning resources and priorities with long-term goals. However, involving lower-level managers and employees in the planning process enhances buy-in, fosters a sense of ownership, and integrates diverse perspectives that can lead to more effective and practical strategies. This collaborative approach not only improves morale but also leverages the unique insights of those who interact directly with customers and day-to-day operations, ultimately leading to better decision-making and execution.
The difference between business administration and business management?
business administration in a body made up of 1% of management that is responsible for implementing policy and decision made by the top management while business management is the body responsible for planning,coordinating,organizing and motivating.
What do you mean by Decesion Making as a key step in planning?
Decision making is the main task of the management function i.e. planning. without the decision making it is very tough to decide what to do and where is to do. Planning is just a blueprint of the future planning but decision making is not very easy task it is very wide in itself. In case of the lack of the decision making it is not possible to fulfill your planning. for the accomplished of the desire outputs perfect decision making is very necessary. In short, decision making is the primary function of the planning as well as useful for the maintain management.
What is a decision support system?
A Decision Support System is widely used in the computer industry. It helps businesses and organizations with activities involving decision making and planning.
What are the components of planning in the management?
Planning in a management position may include writing the schedule for when employees will work. Planning may also involve events, specials, and how to spend money in the business.
The purpose of a business report is?
The purpose of business reports is to enable management to have timely, factual information at hand for planning and decision making.
What is the Decision Tree?
Decision trees are used mainly in the business world to help strategize many business investments and planning. It would include things such as possible outcomes, costs, etc.
How do you involve employees in strategic planning?
Involving employees in strategic planning can be achieved through collaborative workshops, where team members can share insights and ideas related to the organization's goals. Regular surveys and feedback mechanisms can also be utilized to gather input on strategic priorities. Additionally, forming cross-functional teams can ensure diverse perspectives are considered, fostering a sense of ownership and commitment to the final strategy. Empowering employees in this way not only enhances engagement but also leverages their unique expertise for better decision-making.
What is strategic business planning used for?
Strategic business planning is used by businesses to calculate the future consequences that may occur if X plan is taken ahead. This may include doing a SWOT analysis to see if the benefits outweigh the costs of any decision. Such a tool is vital for a business in helping it decide whether a decision is worthy.
Why must e-business consider strategic planning to be a cyclical process?
It allows business decision makers to evaluate and react to the success of past decisions.
Importance of decision making?
The importance of decision making is that it helps in planning for the next course of action. In business, good decisions will yield great returns on investment.
Difference between corporate planning and strategic planning?
Strategic planning is also known as business planning. This is the plan that the corporation comes up with, and the goals they would like to meet. Corporate planning refers to the strategies that will be followed by employees to help meet the corporation's goals.
In managing the business of a restaurant what are some decision that must be made in the areas of strategic planning managerial control operational control?
Restaurant businesses can be complicated. You need to have a plan for what all employees must do, how the food will get prepared on time, customer service, and if something goes wrong.
A business report is?
A business report is a comprehensive fact-based analysis of a topic used by management to have timely, factual information at hand for planning and decision making.
A business report?
A business report is a comprehensive fact-based analysis of a topic used by management to have timely, factual information at hand for planning and decision making.
