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Instructor

Course

Date

Bus 137 BR Hw

Question No. 1

Each organization strives for achieving organizational goals and objectives. Planning

process is termed as a roadmap to achieve these goals. It involves assessment of goals and

making a comprehensive plan to achieve these goals. Management planning process incorporate

both short term and long term strategies to produce authenticated results. This process is based

on different steps, which includes; establishment of goals, identification of resources required to

achieve those goals, then tasks are designed, which are required to be completed in process of

goal attaining, another step is to set time and establishment of evaluation methods helps in

measuring performance[ CITATION Ste69 \l 1033 ].

Question No. 2

Tactical planning is usually for a shorter period of time, which ranges from less than one

year. It includes the planning that what an organization need to do to remain competitive or to

earn profit, whereas strategic planning is made for long period of time. Following are the main

differences between tactical and strategic planning. In organizations upper management have

better knowledge of organization than middle and lower level managers, therefore upper manger

make strategic plans, whereas middle level managers know day to day operations and make
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tactical planning. Strategic plans are based on analyzing future and tactical planning involves day

to day analysis of activities. Strategic plans are more detailed and it is difficult to find facts

comparatively with tactical planning[ CITATION Lac00 \l 1033 ].

Question No. 3

SWOT Analysis

 Strengths

o Less tuition fee.

o Less number of student in class.

o Distance learning.

o Satellite based campus.

 Weaknesses

o Less funding.

o Less space

o Employment rates of post-graduate students.

 Opportunities

o Partnership with other institutions.

o Location

 Threat

o Poor economic conditions

o Rivalry
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Question No. 4

The term mission statement is also serves as the purpose of existence of organization,

individuals and company. It shows the core purpose of business. it shows what is good for

business and what is not, it identify markets in which organization will operate or serve, it also

act as communication to show the intended direction of the organization. Each organization work

by making specific goals and objectives, mission statement helps the managers to make

organizational goals in accordance with the mission statement. Mission statement is made for the

organization employees to communicate goals and purpose of its existence[ CITATION Kle91 \l

1033 ].

Question No. 5

There are number of factors in human behavior which cause disturbance in effective

decision making. A good decision is based on knowledge and information regarding the

decision. If an individual is overconfident then it may hinder the effective decision making.

Aggressive behavior of individual can also impact the decision making process. These

obstructions are more damaging in imperative choice making gatherings than in routine

gatherings, and they agitate viable director’s more than insufficient ones.

Question No. 6

Every person’s major goal or aim of life is to become successful and to earn bread and

butter. I have an interest in setting up my own business because I cannot work under the

supervision of others and to earn and generate profits by satisfying need of customers. Serving

people is another reason of becoming an entrepreneur.

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Question No. 7

To become a great business owner, an individual is required to have a great

foresightedness. He should have good communication skills to motivate their subordinates and

employees. He also required to have decision making skills. He also required to have potential to

influence others. In short an individual must have all characteristics of a leader.

Question No. 8

Major challenges that managers are facing in these days are diverse workforce in an

organization. World is becoming global and different people belong to different cultures work

together in an organization. Managers are required to maintain a culture which motivate all

employees without any discrimination.

Question No. 9

Owning a franchise is not similar to owning a business. In franchise system it is required

to follow the strategies of parent firm, whereas in businesses individual is free in making strategy

of their own choice.

Works Cited
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Klemm, Mary, Stuart Sanderson and George Luffman. "Mission statements: selling corporate

values to employees." Long range planning (1991): 73-78.

Lackman , Conway, Kenneth Saban and John Lanasa. "The contribution of market intelligence to

tactical and strategic business decisions." Marketing Intelligence & Planning (2000): 6-9.

Steiner, George Albert. "Top management planning." (1969).