Planning Is the Process of

question 71

Multiple Choice

Planning is the process of

• A) designing jobs, grouping jobs into units, and establishing patterns of authority between jobs and units.
• B) determining the organisation's desired future position and deciding how best to get there.
• C) motivating the organisation's members to work together towards the organisation's goals.
• D) monitoring and correcting the actions of the organisation and its members to keep them directed towards their goals.
• E) utilising organisational resources with the ultimate goal of attaining organisational goals efficiently and effectively.

Describe the relationship between technological changes and the marketing environment.

Explain the process and impact of electronic commerce on consumer behavior.

Identify how regulatory changes can influence technological adoption and market forces.

Understand the concept of electronic commerce and its forms.

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Definitions:

MRP

Material Requirements Planning is a system for calculating the materials and components needed to manufacture a product, ensuring that materials are available for production and products are available for delivery.

EOQ Model

The Economic Order Quantity model, a formula used in inventory management to determine the optimal order size that minimizes total holding and ordering costs.

Inventory Management

The supervision of non-capitalized assets (inventory) and stock items to ensure an adequate supply without excessive oversupply.

Important

A characteristic denoting something of great significance or value in a specific context or situation.