BUS208: Principles of Management
Unit 7: Planning and Strategy Formulation
Managers plan and coordinate the work of others so that an organization can achieve its goals. In their planning function, managers identify needed resources (e.g. people, finances, equipment, etc.) and organize them so that employees can accomplish activities and meet set objectives.
In addition to setting company-wide strategy and long-term goals, managers also create interim, short-term goals as a means of focusing the activities of an organization and providing direction to employees.
Completing this unit should take you approximately 5 hours.
Unit 7 Learning Outcomes
Upon successful completion of this unit, you will be able to:
- illustrate the components of business strategy; and
- explain how to develop and achieve organizational goals and objectives.
Please take this assessment to check your understanding of the materials presented in this unit.
- There is no minimum required score to pass this assessment, and your score on this assessment will not factor into your overall course grade.
- This assessment is designed to prepare you for the Final Exam that will determine your course grade. Upon submission of your assessment you will be provided with the correct answers and/or other feedback meant to help in your understanding of the topics being assessed.
- You may attempt this assessment as many times as needed, whenever you would like.