Which of the following is not a Recognised type of plan?
Explanation: succession plan is not a recognized plan. Explanation:The process of finding and developing the abilities of new employees so that they can replace the old ones is defined as the succession plan. It is the responsibility of a manager and the workers to train new employees for the company’s future.
What one of the following is not a key management skill in planning?
C) IT and computing skills. Planning is an intellectual process so all the other three things are necessary to carry out the function of planning.
What is the definition of a scenario in scenario planning?
Scenario planning is the practice of creating varying courses of action for a business to implement based on potential events and situations, known as scenarios. … Having planning in place allows the business to respond to conditions more quickly and effectively.
Which is a Recognised type of plan?
Three major types of plans can help managers achieve their organization’s goals: strategic, tactical, and operational.
What is the richest form of information?
Face-to-face communication is the richest medium according to MRT because it allows for the simultaneous interpersonal exchange of cues from linguistic content, tone of voice, facial expressions, direction of gaze, gestures, and postures.
What is a contingency plan example?
Contingency plans are often devised by governments or businesses. For example, suppose many employees of a company are traveling together on an aircraft which crashes, killing all aboard. The company could be severely strained or even ruined by such a loss.
What are the key elements of any contingency plan?
The key elements of a contingency plan are “protection, detection, and recoverability.”
What are the types of scenario planning?
Types of Scenario Planning
- Quantitative Models. …
- Probability-Based Scenarios. …
- Interactive (“War Gaming”) Scenarios. …
- Event-Driven (or Operational) Scenarios. …
- Normative Scenarios. …
- Strategic Management (or Alternative Futures) Scenarios.
What are the six steps involved in scenario planning and analysis?
The six steps in formulating a scenario plan are the following: (1) choose the target issue, scope, and time frame that the scenario will explore; (2) brainstorm a set of key drivers and decision factors that influence the scenario; (3) define the two dimensions of greatest uncertainty; (4) detail the four quadrants of …
What is a scenario example?
The definition of a scenario is a series of events that is projected to occur. When you run through all of the possible outcomes of a conversation in your head, this is an example of a situation where you run through all possible scenarios.