Use your knowledge of the development and execution of tactical plans to answer the following question.What factors can help to ensure a successful execution of a tactical plan? Check all that apply.Top management must be notified at each critical stage of the tactical plan's execution.The team members must be congratulated for each successful step.The manager needs to evaluate every possible course of action in light of the goal.Each decision maker must have the information and resources necessary for getting the job done.The manager must monitor ongoing activities derived from the plan to be sure the results are as expected.

Executing a tactical plan successfully requires careful consideration and planning as well as…

Answered: Use your knowledge of the development…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Use your knowledge of the development and execution of tactical plans to answer the following question. Which of the following factors are relevant for successfully executing tactical plans? Check all that apply. ☐ The team members must be congratulated for each successful step. Top management must be notified at each critical stage of the tactical plan's execution. Each decision maker must have the information and resources necessary for getting the job done. The manager needs to evaluate every possible course of action in light of the goal. The manager must monitor ongoing activities derived from the plan to be sure the results are as expected. In your role as project leader for the organization's involvement in the annual United Way campaign, you have planned a party to mark the end of the fundraising initiative. What must you do to ensure the party is implemented successfully? O Identify how much money is available in the discretionary fund. O Send a memo emphasizing how important…
According to David (2007), beneficial contingency planning typically undergoes a seven-step process. Which of the following are the first four (4) steps? a. Assess the impact of each contingency event; Specify trigger points; Develop contingency plans; Determine early warning signs. b. Develop advance action plans; Determine early warning signs; Specify trigger points; Develop contingency plans. c. Determine early warning signs; Assess the potential counter impact of each contingency plan; Identify both beneficial and unfavourable events; Develop contingency plans. d. Identify both beneficial and unfavourable events; Specify trigger points; Assess the impact of each contingency event; Develop contingency plans.
What are the potential risks and uncertainties associated with planning, and how can organizations mitigate these risks through contingency planning and risk management strategies?
Discuss the importance of contingency planning in the context of strategic management, and analyze how it helps organizations navigate uncertainties and unforeseen events.
Mangement Company X is facing a critical decision regarding a major expansion project. The executive team is divided on the best course of action. Analyze the situation and propose a decision-making strategy that can help the company resolve the conflict and move forward. Discuss the leadership skills required to facilitate effective decision-making in such a situation.
Dwight D. Eisenhower once said,” I have always found that plans are useless, but planning is indispensable.” Do you agree or disagree with this quote?
Discuss the limitations of various strategy-formulation analytical techniques. How are the SWOT, SPACE, BCG, IE and Grand Strategy Matrices similar? How are they different?
Planning is an essential component of any endeavor, providing a roadmap for achieving goals and objectives. Whether it's a personal project, business venture, or societal initiative, effective planning involves setting clear objectives, identifying resources needed, allocating tasks, and establishing timelines. Through planning, individuals and organizations can anticipate challenges, mitigate risks, and optimize their efforts towards success. How does effective planning contribute to the efficiency and success of a project?
Effective planning is a cornerstone of success in any endeavor, be it personal or professional. It involves a systematic approach to setting goals, identifying resources, and creating a roadmap to achieve desired outcomes. Whether it's organizing a project, managing time efficiently, or outlining long-term objectives, a well-thought-out plan provides a structured framework that helps individuals and teams navigate complexities and uncertainties. Planning enables proactive decision-making, minimizes risks, and optimizes resource allocation. It serves as a blueprint for progress, allowing for adjustments as circumstances evolve. In essence, the process of planning is a dynamic and iterative exercise that empowers individuals and organizations to align their efforts with a clear vision, fostering a greater likelihood of success. Question: How do you prioritize tasks within your planning process to ensure the most critical aspects are addressed first?
Company X is facing a critical decision regarding a major expansion project. The executive team is divided on the best course of action. Analyze the situation and propose a decision-making strategy that can help the company resolve the conflict and move forward. Discuss the leadership skills required to facilitate effective decision-making in such a situation.
Planning is an essential aspect of any endeavor, whether it be personal, professional, or academic. It involves the systematic organization of resources, time, and tasks to achieve specific goals efficiently and effectively. A well-thought-out plan provides direction, clarity, and a roadmap for navigating through complexities and uncertainties. It allows individuals or organizations to anticipate potential challenges, identify opportunities, and allocate resources optimally. In business, strategic planning is crucial for setting objectives, defining strategies, and aligning actions with long-term vision and mission. It involves conducting thorough market research, analyzing competitors, assessing strengths and weaknesses, and formulating strategies to gain a competitive edge. Project planning, on the other hand, focuses on the detailed scheduling of tasks, setting milestones, allocating budgets, and managing risks to ensure successful project completion within predefined constraints.…
Can you discuss the concept of risk management in the context of planning and how it influences decision-making?

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