MNGT 3165

Assignment 5

Please briefly answer the following questions:

1. How does planning affect the success of a business? a. Planning sets the stage for resource acquisitions and the focus of energy for the entire organization. Planning provides direction and a common sense of purpose for the organization. It helps to determine the operations and how those operations will affect the organization before commitments are made 2. How are mission statements, goals, objectives, and plans related? a. The mission statement provides answers to why an organization exists. The goals and objectives of an organization should flow in a unified harmony from top to bottom within the organization. The objectives should coincide with the vision. In turn, plans must directly relate to and stem from a systematic and combined approach to answering what the purpose of the organization actually is. 3. What are the purposes of strategic, tactical, operational, and contingency planning? In what situation would an organization use each? a. The purpose of a strategic plan is to help the organization look ahead over the next two, three, four, five, or even more years in an attempt to prepare the organization for operational success during these years. b. The purpose of tactical plans is to help units achieve the strategic plans. They are implementation plans developed by middle management. c. The purpose of operational plans is to help accomplish management responsibilities. d. The purpose of contingency plans is to provide alternative goals and/or courses of action should circumstances change so as to make the original plan unusable. 4. How can