Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 7.2, Problem 7.2AQ
Summary Introduction
To determine: The changes occurred in the preference of the customer.
Introduction:
Managers have to consider all the environmental factors during planning. Managers are responsible for the management of any business. Management refers to the process of planning, organizing, leading, and controlling people and resources in order to accomplish organizational goals.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
What are the limitations of planning in addressing the unique needs and dynamics of different industries and markets? Or How can excessive planning hinder an organization's ability to respond effectively to rapidly changing market conditions or unexpected disruptions?
What is the importance of planning in achieving organizational goals and objectives? How can effective planning help organizations to stay competitive in today's business environment?
Effective planning is a crucial aspect of achieving success in any endeavor. Whether it's organizing daily tasks, managing a project, or outlining long-term goals, a well-thought-out plan provides a roadmap for navigating challenges and reaching desired outcomes. Planning involves setting clear objectives, identifying potential obstacles, allocating resources efficiently, and establishing timelines for implementation. By engaging in thoughtful planning, individuals and organizations can enhance their ability to make informed decisions, stay focused on priorities, and adapt to unforeseen circumstances. It is the foundation upon which successful execution and achievement are built.
Question: How can individuals balance the flexibility required to adapt to unforeseen circumstances with the structured framework of a well-established plan?
Chapter 7 Solutions
Understanding Business
Ch. 7.1 - Prob. 7.1AQCh. 7.2 - Prob. 7.2AQCh. 7.2 - Prob. 1TPCh. 7.2 - Prob. 2TPCh. 7.2 - Prob. 3TPCh. 7.3 - Prob. 7.3AQCh. 7.3 - Prob. 4TPCh. 7.3 - Prob. 5TPCh. 7.3 - Prob. 6TPCh. 7.3 - Prob. 7TP
Ch. 7.5 - Prob. 7.5AQCh. 7.5 - Prob. 7.5BQCh. 7.5 - Prob. 7.5CQCh. 7.5 - Prob. 1MEDCh. 7.6 - Prob. 7.6AQCh. 7.6 - Prob. 8TPCh. 7.6 - Prob. 9TPCh. 7.6 - Prob. 10TPCh. 7 - Prob. 1CTCh. 7 - Prob. 2CTCh. 7 - Prob. 3CTCh. 7 - Prob. 4CTCh. 7 - Prob. 1DWSCh. 7 - Prob. 2DWSCh. 7 - Prob. 3DWSCh. 7 - Prob. 4DWSCh. 7 - Prob. 5DWSCh. 7 - Prob. 1TITCh. 7 - Prob. 2TITCh. 7 - Prob. 3TITCh. 7 - Prob. 1VCCh. 7 - Prob. 2VCCh. 7 - Prob. 3VC
Knowledge Booster
Similar questions
- Management How can managers balance the need for detailed planning with the need for flexibility and adaptability in an increasingly dynamic and uncertain business environment?arrow_forwardPlanning extends its significance beyond individual pursuits and is a cornerstone of organizational success. In a business context, strategic planning involves aligning the company's mission, vision, and values with actionable initiatives. It requires a thorough analysis of market trends, competition, and internal capabilities to formulate strategies that position the organization for growth and sustainability. Comprehensive planning in business encompasses not only the immediate goals but also the long-term vision, enabling companies to navigate uncertainties and capitalize on emerging opportunities, Additionally, effective planning serves as a communication tool, ensuring that all stakeholders are aligned with the organizational objectives and understand their roles in achieving them. Question: How can organizations strike a balance between the adaptability needed to respond to dynamic market conditions and the stability provided by a well-defined strategic plan?arrow_forwardHow can managers ensure that the planning process is flexible and adaptable to changes in the business environment?arrow_forward
- Planning is critical in any business. This task is designed to help your team develop a basic "game plan" that can help you make decisions as well as reflect on the decision-making process. Use the guiding questions below to write a business plan of your Coffee Shop Store that outlines who you are, what market your business will serve, and how it will ensure success, among other things. Divide your business plan into the following parts: Company Description Who are we? Specify the mission and vision of the business Coffee Shop Store. Planning Set at least two short-term goals. Use the S.M.A.R.T. guide for your writing. Strategize for each goal.arrow_forwardHow can organizations effectively balance short-term and long-term planning objectives to ensure that they are able to meet their immediate needs while also planning for future growth and success?arrow_forwardPlanning is a fundamental process that plays a pivotal role in achieving both personal and professional objectives. It involves the systematic organization of ideas, resources, and actions to navigate towards a desired outcome. Whether it's a project, a career path, or a life goal, effective planning sets the roadmap for success. It allows individuals and organizations to anticipate challenges, allocate resources efficiently, and stay focused on the end goal. Without a well-thought-out plan, individuals may find themselves navigating through uncertainty and facing unnecessary obstacles. Planning not only helps in setting clear objectives but also in identifying the steps required to reach them. It provides a structured approach that enhances decision-making and reduces the likelihood of haphazard actions that may lead to setbacks. One key aspect of planning is adaptability. While a plan provides a roadmap, the ability to adapt to unforeseen circumstances is crucial, Flexibility allows…arrow_forward
- The relevance of commercial cookery and hospitality management courses to my previous study and employment background (future goals & ambitions).arrow_forwardPlanning is an Indispensable aspect of human endeavors, serving as the compass that guides individuals, organizations, and societies toward their desired goals and objectives. Whether it be in the realm of personal development, business strategy, or community initiatives, effective planning lays the foundation for success. At its core, planning involves a systematic and thoughtful process of envisioning the future, identifying specific objectives, and charting a course of action to achieve those objectives. It requires a keen understanding of the current state of affairs, a realistic assessment of resources and constraints, and a foresight that anticipates potential challenges and opportunities. In personal life, planning takes the form of setting goals, creating timelines, and making strategic decisions that align with one's aspirations. Individuals engage in short-term and long-term planning to navigate their educational and professional journeys, manage finances, and cultivate…arrow_forwardWhat are some best practices for effective communication and coordination among stakeholders during the planning process?arrow_forward
- Planning is a crucial aspect of achieving goals and objectives in various aspects of life, whether it be personal, professional, or academic. The process of planning involves setting specific goals, identifying the necessary steps to reach those goals, and allocating resources effectively. Through careful planning, individuals and organizations can enhance their ability to anticipate challenges, make informed decisions, and ultimately increase the likelihood of success. In essence, planning serves as a roadmap that guides actions and helps individuals stay focused on their desired outcomes. It not only provides a sense of direction but also allows for the flexibility to adapt to changing circumstances. Whether planning for a project, a career, or personal development, the effort invested in thoughtful planning can yield significant benefits. Question: How does effective planning contribute to adaptability in the face of changing circumstances, and can you provide an example from your…arrow_forwardwrite an essay where you explain the benefits of planning when managing a businessarrow_forwardDiscuss the challenges and limitations organizations may face in the planning process. How can organizations overcome these challenges and ensure the effectiveness of their planning efforts?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill Education
Management (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSON
Business Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSON
Fundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON