Handout 8-1 (LO 1) # Which of the following statements is (are) false? 1. I An important part of the organizing process is the creation of a budget. Directing/leading, involves all actions managers must take to implement the plan including motivating employees to achieve results. The control function is the forward-looking part of the planning and control cycle. The starting point of the planning process is management's strategic plan or vision of what they want the organization to achieve over the long term. A short-term objective is a specific goal that managers want to achieve in more than a year to reach their long-term goals. Planning is the forward-looking phase of the planning and control process that involves setting long-term objectives and defining short-term tactics that will help to achieve them. Budgets should not be used to motivate and reward employees. Budgets play an important communication role within organizations. They provide a mechanism for managers to share expectations and priorities for the future. Budgets also provide useful benchmarks for evaluating and rewarding employee performance. - One of the major advantages of budgeting is that it forces managers to look to the future