University of Toronto (UofT) MGT100 Fundamentals of Management Practice Exam

Question: 1 / 400

What is the first step in the planning process?

Organizing resources

Setting objectives

The first step in the planning process is setting objectives. This step is foundational because it establishes the goals that an organization or individual aims to achieve. By defining clear, measurable objectives, it provides a direction for all subsequent planning efforts. Setting these objectives allows managers to determine the necessary actions, allocate resources effectively, and align team efforts towards achieving those goals.

Without a defined set of objectives, it becomes challenging to organize resources, control outcomes, or direct teams effectively, as there is no clear target or desired outcome to work towards. This initial stage is crucial because it creates a framework for decision-making and prioritizing actions throughout the planning process.

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Controlling outcomes

Directing teams

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