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Exam 5: Plans and Planning Techniques: Get There Faster With Objectives

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Question 1

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Each level of the organization should create their plans independently, in order to be responsive to the varying needs at each level.

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Question 2

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The process of developing alternative plans, in anticipation of having problems with implementing the existing plan is called __________.*

A) contingency planning
B) forecasting
C) scenario planning
D) budgeting

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Question 3

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Involving others, particularly those who implement the plan in the planning process is called __________.

A(n) __________ budget involves approaching each budget cycle as if it were new, starting from scratch each time.

Strategic plans define what specific work units need to do in order for the organization to move ahead.

A planning technique that utilizes external comparisons to evaluate internal processes is called __________.

A plan that commits resources to projects or activities is called a(n) __________.

A budget that compares sales or revenues to expenses is called a(n) __________ budget.

A ________ type of budget allows resource allocations to vary with the level of activity.

Plans done by the various departments, such as marketing and manufacturing, are called functional plans.

Plans that usually cover three years or more are called __________.

If a forecast is carefully created, it can be relied upon to accurately predict the future.

A policy describes exactly what actions should be taken in specific situations.

Contingency planning identifies alternate courses of action to be implemented in order to meet changing circumstances.

A plan covering production activities for the three months would be an example of a(n) __________ plan.

Leading consists of guiding the efforts of human resources to ensure high levels of task accomplishment.

Most people are comfortable with a time horizon of:*

A common phrase used to define the things that world class companies do better than others is __________.*

A process by which one establishes lower-level objectives in order to meet higher-level objectives is called _____________.*

Which of the following techniques makes use of external comparisons to evaluate current performance?*