BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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lower level management,
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bridges gap between past and present
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forecasting
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environmental factors
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Detailed explanation-1: -What is short-term planning? Short-term planning is usually considered to take 12 months or less. Your daily, weekly, monthly, even quarterly and yearly goals – all can be filed under “short-term goals.” They are stepping stones that will help you to reach your big goal(s).
Detailed explanation-2: -Operational plans are the plans that are made by frontline, or low-level, managers. All operational plans are focused on the specific procedures and processes that occur within the lowest levels of the organization.
Detailed explanation-3: -Like long-term plans, short-term plans must be monitored and updated, and this is the role of middle-and first-level management. Different managerial levels have responsibility for implementing different types of short-term plans.
Detailed explanation-4: -Short-term plans provide a road map for daily management and incremental improvement of the business to ensure maintaining a solid foundation. Long-term plans provide a path for the business to utilize breakthrough thinking to drive aggressive, profitable growth on top of the solid foundation.