Exam 2: Setting Goals, making Plans, and Improving Costs

___________________ tend to fear cost reduction because it may disrupt their work habits.

You must create plans before you can develop goals or objectives. You must develop goals or objectives in order to create a plan to achieve them.

The first step in the planning process is to ___________________ .

The first step in the planning process is to ______ .

Utilities such as power,fuel,or water should not be considered when determining cost targets.

The concept of Management by Objectives (MBO)differs from the basic planning process in that it involves employee feedback.

Which type of plans are typically set by higher management and are expected to be in operation for two to five years?

A mission statement typically specifies what business a firm is in and what its primary areas of emphasis are.

Reducing the cost of supplies consumed during a production process is reducing the ___________________ costs.

Schedules help determine how facilities,equipment,and employees are to be used in order to accomplish organizational goals.

SWOT stands for Strengths,Weaknesses,Opportunities,and ______ .

Which of the following is the best way to determine cost-target priorities?

Tham has directed her warehouse team to complete the annual inventory audit in the next ten working days.What type of plan is this?

In general,reducing costs of materials is not a good way to reduce business expenses. Materials are promising cost targets.

Goals that are expressed as numbers,percentages,or dollars are ___________________ .

Goals can be made measureable by including ______ information.

Which of the following is the best resource for cost-cutting ideas?

Natasha wrote the following goal for her television sales team: "The Blue Team will sell 30 televisions." How should she improve the wording of this goal?

The best way to ensure a goal is achieved correctly is to discourage risk-taking and creative efforts. Risk-taking and creativity can be benefits to achieving goals.