Which description defines the planning function of the management process?
A) Guiding and motivating employees to meet organizational objectives
B) Discussing how best to arrange an organization's resources into a coherent structure
C) Scanning the business environment for threats and opportunities
D) Determining what an organization needs to do and how best to get it done
E) Monitoring a firm's performance to make sure that it is meeting its goals
Answer: D
Explanation: D) Further, planning has three components. First, it begins when managers determine the firm's goals. Next, they develop a strategy for achieving those goals. Finally, they design tactical and operational plans for implementing the strategy.
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The ________ market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others
A) business B) consumer C) e-commerce D) global E) domestic
With a _______ format, a firm posts detailed information about the company and its market offerings
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