Question : Which of the following is a step in the process of developing an operational plan?
Option 1: Conducting a SWOT analysis
Option 2: Setting long-term objectives
Option 3: Allocating financial resources
Option 4: Evaluating market trends
Correct Answer: Allocating financial resources
Solution : The correct answer is (c). Allocating financial resources
Developing an operational plan involves determining the specific actions, activities, and resource allocations required to achieve the organization's strategic goals. Allocating financial resources is an essential step in this process, as it involves determining the financial budget and resources needed to support the operational activities outlined in the plan.
Allocating financial resources entails identifying the necessary funds, budgeting for various operational expenses (e.g., labor costs, equipment, supplies, marketing, etc.), and ensuring that adequate financial resources are available to execute the planned activities effectively.
Question : Case Study: XYZ Manufacturing Company
The next step XYZ Manufacturing Company should take after evaluating alternative courses of action is:
Option 1: Selecting an alternative
Option 2: Developing premises
Option 3: Setting objectives and goals
Option 4: Allocating resources
Question : Case Study: DEF Educational Institute
The next step DEF Educational Institute should take after evaluating alternative courses of action is:
Question : Case Study: MNO Healthcare Solutions
The next step MNO Healthcare Solutions should take after evaluating alternative courses of action is:
Question : The first step in the planning process is:
Option 1: Implementing the plan
Option 2: Evaluating the plan
Option 3: Setting objectives
Option 4: Monitoring the plan
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