Which Description Defines the Planning Function of the Management Process

question 76

Multiple Choice

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

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Definitions:

Optimal Consumption

The most efficient allocation of resources and consumption choices based on individual preferences, maximizing utility.

Utility Function

A representation of how a consumer ranks different bundles of goods according to their level of satisfaction or utility.

Income

Financial returns, especially continual, from work or investing activities.

Price of X

The amount of money required to purchase a product or service named X.