Question 1

A flexible budget allocates resources as if each budget were brand new.

Accepted Answer

A) True 
 B)False

Question 2

After evaluating the current sales of PCs in relation to the desired sales, Rehan, the marketing manager at Alfalah Inc., generates alternative campaigns that may affect the PC's expected sales. He identifies, for each campaign, things that may help or hinder progress toward the company's objectives. Rehan is currently in which phase of the planning process?

Accepted Answer

A)   defining the objectives
B)   determining where one stands vis-à-vis objectives
C)   developing premises regarding future conditions
D)   analyzing alternatives and making a plan
E)   implementing the plan and evaluating results

Question 3

What is the primary difference between a policy and a procedure?

Accepted Answer

A)   A policy focuses on the organization, but a procedure focuses only on a single department.
B)   A policy sets a broad guideline, but a procedure defines precise actions to be taken.
C)   A policy is a single-use plan, but a procedure is a standing plan.
D)   A policy identifies short-term directions for the organization, but a procedure identifies long-term directions.
E)   A policy guides fair employment, but a procedure guides ethical principles.

Question 4

Effective planning improves focus and flexibility, provides an action orientation, helps to improve coordination, and facilitates better control and time management.

Accepted Answer

A) True 
 B)False

Question 5

Even though the time frames of planning may be shrinking, ___ is/are still responsible for setting longer-term plans and directions for the organization.

Accepted Answer

A)   lower management
B)   middle management
C)   shareholders
D)   top management
E)   consumers

Question 6

Operational plans form the foundation for strategic plans, whereas strategic plans specify the activities and resources that are needed to carry out the operational plans.

Accepted Answer

A) True 
 B)False

Question 7

Typical operational plans in a business would include all the following except

Accepted Answer

A)   dealing with methods and technology needed by people in their work.
B)   dealing with money required to support various operations.
C)   dealing with requirements of selling and distributing goods or services.
D)   dealing with company growth through mergers and acquisitions.
E)   dealing with recruitment, selection, and placement of people into jobs.

Question 8

For effective time management, one must become calendar-bound by letting others control one's schedule.

Accepted Answer

A) True 
 B)False

Question 9

Compare and contrast strategic and tactical plans.

Accepted Answer

Strategic plans are longer-term plans th...

Question 10

In the planning process, ___ refer to the specific results or desired outcomes that one intends to achieve.

Accepted Answer

A)   guidelines
B)   objectives
C)   procedures
D)   policies
E)   alternatives

Question 11

An organization with focus knows the needs of its customers and knows how to serve them well; an individual with focus knows where he or she wants to go in a career or situation and can retain that objective even in difficult circumstances.

Accepted Answer

A) True 
 B)False

Question 12

___ plans set broad, comprehensive, and longer-term action directions for the entire organization.

Accepted Answer

A)   Normal
B)   Single-use
C)   Strategic
D)   Tactical
E)   Operational

Question 13

A fixed budget

Accepted Answer

A)   allocates a stated amount of resources for a specific purpose.
B)   allocates resources as if each budget were brand new.
C)   allows resources to vary in proportion with various levels of activity.
D)   allocates resources like labour, equipment, and space.
E)   always has equal expenditures and revenue.

Question 14

In management by objectives (MBO) , the objectives that are agreed on by the supervisor/team leader and the subordinates/team members can involve ___.

Accepted Answer

A)   maintenance
B)   improvement
C)   personal development
D)   all of the above
E)   none of the above

Question 15

___ is a planning technique that makes use of external comparisons to determine practices used by best-in-class companies to improve performance and identify possible actions for the future.

Accepted Answer

A)   Contingency planning
B)   Benchmarking
C)   Scenario planning
D)   Forecasting
E)   Management by objectives

Question 16

All managers, regardless of their levels, will use the same time horizon to plan their work activities.

Accepted Answer

A) True 
 B)False

Question 17

Only a few key people should be involved in developing plans to keep the plans simple and to facilitate implementation.

Accepted Answer

A) True 
 B)False

Question 18

Using the opinions of persons with special expertise to make predictions about the future is called qualitative forecasting.

Accepted Answer

A) True 
 B)False

Question 19

Strategic plans set broad, comprehensive, and longer-term action directions for the entire organization.

Accepted Answer

A) True 
 B)False

Question 20

A policy of zero-tolerance toward sexual harassment at workplace is an example of ___ plans used by organizations.

Accepted Answer

A)   facilities
B)   financial
C)   single-use
D)   standing
E)   logistics

Exam 8: Planning Processes and Techniques

An organization with focus knows the needs of its customers and knows how to serve them well; an individual with focus knows where he or she wants to go in a career or situation and can retain that objective even in difficult circumstances.

Correct Answer
verified

Effective planning improves focus and flexibility, provides an action orientation, helps to improve coordination, and facilitates better control and time management.

Correct Answer
verified

Only a few key people should be involved in developing plans to keep the plans simple and to facilitate implementation.

Correct Answer
verified

Using the opinions of persons with special expertise to make predictions about the future is called qualitative forecasting.

Correct Answer
verified

What is the primary difference between a policy and a procedure?

Correct Answer
verified

A flexible budget allocates resources as if each budget were brand new.

Correct Answer
verified

In management by objectives (MBO) , the objectives that are agreed on by the supervisor/team leader and the subordinates/team members can involve ___.

Correct Answer
verified

Operational plans form the foundation for strategic plans, whereas strategic plans specify the activities and resources that are needed to carry out the operational plans.

Correct Answer
verified

___ is a planning technique that makes use of external comparisons to determine practices used by best-in-class companies to improve performance and identify possible actions for the future.

Correct Answer
verified

Even though the time frames of planning may be shrinking, ___ is/are still responsible for setting longer-term plans and directions for the organization.

Correct Answer
verified

A policy of zero-tolerance toward sexual harassment at workplace is an example of ___ plans used by organizations.

Correct Answer
verified

For effective time management, one must become calendar-bound by letting others control one's schedule.

Correct Answer
verified

___ plans set broad, comprehensive, and longer-term action directions for the entire organization.

Correct Answer
verified

Correct Answer
verified

Compare and contrast strategic and tactical plans.

Correct Answer
verified
Strategic plans are longer-term plans th...
View Answer

All managers, regardless of their levels, will use the same time horizon to plan their work activities.

Correct Answer
verified

In the planning process, ___ refer to the specific results or desired outcomes that one intends to achieve.

Correct Answer
verified

Typical operational plans in a business would include all the following except

Correct Answer
verified

A fixed budget

Correct Answer
verified

Strategic plans set broad, comprehensive, and longer-term action directions for the entire organization.

Correct Answer
verified

Exam 8: Planning Processes and Techniques

An organization with focus knows the needs of its customers and knows how to serve them well; an individual with focus knows where he or she wants to go in a career or situation and can retain that objective even in difficult circumstances.

Correct AnswerverifiedShow Answer

Effective planning improves focus and flexibility, provides an action orientation, helps to improve coordination, and facilitates better control and time management.

Correct AnswerverifiedShow Answer

Only a few key people should be involved in developing plans to keep the plans simple and to facilitate implementation.

Correct AnswerverifiedShow Answer

Using the opinions of persons with special expertise to make predictions about the future is called qualitative forecasting.

Correct AnswerverifiedShow Answer

What is the primary difference between a policy and a procedure?

Correct AnswerverifiedShow Answer

A flexible budget allocates resources as if each budget were brand new.

Correct AnswerverifiedShow Answer

In management by objectives (MBO) , the objectives that are agreed on by the supervisor/team leader and the subordinates/team members can involve ___.

Correct AnswerverifiedShow Answer

Operational plans form the foundation for strategic plans, whereas strategic plans specify the activities and resources that are needed to carry out the operational plans.

Correct AnswerverifiedShow Answer

___ is a planning technique that makes use of external comparisons to determine practices used by best-in-class companies to improve performance and identify possible actions for the future.

Correct AnswerverifiedShow Answer

Even though the time frames of planning may be shrinking, ___ is/are still responsible for setting longer-term plans and directions for the organization.

Correct AnswerverifiedShow Answer

A policy of zero-tolerance toward sexual harassment at workplace is an example of ___ plans used by organizations.

Correct AnswerverifiedShow Answer

For effective time management, one must become calendar-bound by letting others control one's schedule.

Correct AnswerverifiedShow Answer

___ plans set broad, comprehensive, and longer-term action directions for the entire organization.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Compare and contrast strategic and tactical plans.

Correct AnswerverifiedStrategic plans are longer-term plans th...View AnswerShow Answer

All managers, regardless of their levels, will use the same time horizon to plan their work activities.

Correct AnswerverifiedShow Answer

In the planning process, ___ refer to the specific results or desired outcomes that one intends to achieve.

Correct AnswerverifiedShow Answer

Typical operational plans in a business would include all the following except

Correct AnswerverifiedShow Answer

A fixed budget

Correct AnswerverifiedShow Answer

Strategic plans set broad, comprehensive, and longer-term action directions for the entire organization.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified
Strategic plans are longer-term plans th...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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