Concept explainers
To determine:
If Marge should forget to achieve the sales target and prepare for the next period.
Introduction:
Planning is a process of making the plan before executing any work. The process of planning includes identification of goals and objectives, formulation of strategies, creating the means required and implementation and monitoring.
The strategic goal is a statement defining where the company wants to be in the future. The strategic goal represents the whole organization's goal rather than to the goal of a division, department, or individual. The organizational goal should always be given preference over departmental or individual goals.
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- 1) Provide the implementation plan for Succession and Legacy Apple Inc for the year 2020 until 2025.arrow_forwardWhy does a mission statement should not have any monetary amounts , numbers , percentage, ratios, goals and any objectives in it ? Explain ?arrow_forwardYou have been tapped by a newly elected President of the United States to formulate a “Year 1” strategic plan for his / her new administration. Discuss in-detail how you would prioritize all possible initiatives proposed by the 15 major Departments (only those who have an Presidentially appointed Secretary - (ie. Department of Defense; State Department; etc.). Consider all benefits / costs as well as any challenges and constraints. Then, identify your top 5 recommendations and justify your selection. Keep in mind that the President wants to maximize his Elector Satisfaction metrics and maintain bi-partisan support in Congress.arrow_forward
- In a recent case study on strategic planning, a prominent company exemplified the pivotal role of thoughtful and forward-looking strategies in achieving sustained business growth. The company, faced with increasing competition and changing market dynamics, undertook a comprehensive strategic planning process to reassess its goals, identify potential opportunities, and mitigate potential risks. The planning phase involved a thorough analysis of market trends, customer needs, and technological advancements, leading to the formulation of a robust business strategy. Implementation of the strategic plan involved aligning the workforce, investing in technology upgrades, and forging strategic partnerships. The results were remarkable, as the company not only strengthened its market position but also achieved significant revenue growth, demonstrating the transformative power of effective strategic planning. Question: How can businesses strike a balance between the need for adaptability in a…arrow_forwardVision – is a more realistic overview of the company’s aim and ambition. Why does the company exist? What does it aim to achieve through its existence? Select one: True Falsearrow_forwardBackground: XYZ Company, a tech startup, was gearing up to launch its innovative product in the market. The product aimed to revolutionize the way people interact with technology. The company decided to invest in a comprehensive advertising campaign to create awareness and generate excitement around the product. Planning Phase: The planning phase involved extensive market research to understand the target audience, competitors, and market trends. XYZ Company identified key features and benefits of their product, which formed the basis of their advertising strategy. They also set specific goals, including brand awareness, product adoption, and market share increase. Advertising Strategy: XYZ Company opted for a multi-channel advertising approach, combining online and offline channels to reach a broader audience. The plan included social media ads, targeted online banners, influencer partnerships, and traditional print media. The company allocated budget strategically to…arrow_forward
- 1. Using the citations/review journals below on the Importance of Implementation Plan and Loan repayment, provide a summary of the work researched. a. Lau, M. Tackling Uncertainties in Plan Implementation: Lessons from a Growth Area in England. Town planning review 2015, 86 (1), 7–28. https://doi.org/10.3828/tpr.2015.2. b. Worku, Z. Business Ethics And The Repayment Of Loans In Small Enterprises. Journal of applied business research 2021, 37 (2), 51–60. https://doi.org/10.19030/jabr.v37i2.10371.arrow_forwardPlanning is an essential part of achieving our goals and objectives. Whether it's a personal project, a business venture, or even a simple task, having a well-thought-out plan can make a significant difference in success. Effective planning involves setting clear objectives, identifying the necessary resources, establishing a timeline, and considering potential obstacles or challenges. It allows us to create a roadmap to guide our actions and decisions, making it more likely that we will achieve our desired outcomes. Question: How do you ensure that your planning process is adaptable to unexpected changes and challenges that may arise during the execution of your plan?arrow_forwardWhat is an analysis sheet, and how do you make it for the activities?arrow_forward
- 2. Which of the following elements of SMART goals is absent from the following stated goal that could be made by HISD management? “Teachers who transfer to target schools should aim to increase students’ scores on the Texas State Assessment test by 5%.” Multiple Choice a. results-oriented b. attainable c. time-bound d. specific e. measurable Which of the following does not represent potential reasons the HISD incentive plan may not be working as originally hoped? Multiple Choice a. Highly-rated teachers may not want to risk their reputations by moving to lower-performing schools. b. $5000 may not be enough to attract highly rated teachers to lower-performing schools. c. Highly-rated teachers are concerned that they will not receive the bonus even if they qualify for it and move to a lower-performing school. d. Highly-rated teachers may not want to give up positions at better schools by taking HISD’s offer. e. The plan did not have clear criteria for someone to qualify for the bonus.arrow_forwardManagement Effective planning is the compass that navigates the course of success in any endeavor. It's the meticulous process of outlining objectives, envisioning strategies, and organizing resources to achieve a desired outcome. Whether in personal aspirations or professional pursuits, a well-crafted plan serves as a roadmap, providing direction, structure, and clarity amidst uncertainty. It involves assessing risks, anticipating challenges, and devising contingencies to adapt to unforeseen circumstances. Ultimately, planning isn't just about setting goals, it's about orchestrating the steps needed to turn those goals into reality. How do you prioritize tasks when planning to ensure that the most important ones get the attention they deserve?arrow_forwardAt the beginning of a fiscal year, your organization established several goals. As part of these goals, you have been tasked with replacing the wired Ethernet network with a wireless network. It has been estimated that this process will take 18 months. Of which type of goal is this an example? (30-50-word explanation) A) Operational goal B) Strategic goal C) Mid-term goal D) Tactical goalarrow_forward
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