Exam 7: Foundations of Planning

A wireless networking technology called Wi-Fi that links together information devices is ________.

One charge against Arab culture in relation to planning relates to the concept of ________.

When uncertainty is high and managers must be flexible in order to respond to unexpected changes, directional plans are preferable.

The Dynamic Environment (Scenario) A group of shareholders at Company EZ has strongly suggested that the firm update its planning practices to include more participative decision making and greater feedback to employees. -Company EZ's business is technology-related and the environment is very dynamic. Management at Company EZ argues that formal planning ________.

A Business Plan (Scenario) Imagine that you are the owner of a small company that sells typewriters, business equipment, and computer hardware. You employ about 40 people. You know that the organization needs to move in a different direction, and you want to set some long-term goals for the company. You want to write a plan that will cover the next three years only, knowing that business needs change somewhat frequently. Your goal is to write a plan that provides direction but does not contain extremely well-defined, potentially restrictive objectives. -Your plan will cover the entire organization. This characteristic is most consistent with what type of plan?

The flexibility inherent in directional plans must be weighed against the ________.

Successful organizations are typically the result of what?

Planning for too long or too short a time period ________.

The statement that each store should have sales equal to or greater than $100 per square meter per day is an example of ________.

Why does the persistence in planning efforts contribute to significant performance improvement?

In an uncertain environment, managers want to develop ________ plans.

In the traditional approach to planning, planning was done entirely by top-level managers who were often assisted by ________.

A city's policy concerning smoking in public buildings that provides guidance for police action would be considered what type of plan?

Planning Factors (Scenario) As vice president of a local manufacturer, you are interested in developing a new organizational plan. However, you are not sure who you should assign to the varying planning tasks. At the same time, several other issues that could deeply affect your business are pending, including rising interest rates and the potential formation of a new employee union. You must also consider your firm's contracts with large vendors that extend five years into the future. -Which plans should you and other top management members be developing?

Planning Factors (Scenario) As vice president of a local manufacturer, you are interested in developing a new organizational plan. However, you are not sure who you should assign to the varying planning tasks. At the same time, several other issues that could deeply affect your business are pending, including rising interest rates and the potential formation of a new employee union. You must also consider your firm's contracts with large vendors that extend five years into the future. -For the most part, you should assign the operational planning activities to ________.

A well-designed goal should be ________.

The second step in goal setting is to determine the goals individually or with input from others.

E-Biz Dreams (Scenario) Raja has just completed a Master of Science degree in computer science at Major University. He now wants to begin a new internet business selling his services as a website maker for companies in his home city. He estimates that, if his business idea is a success, within one year he will be employing at a minimum 10 programmers and 2 analysts. -To make his business successful, Raja will first have to develop what type of plan?

________ can evaluate whether an organization is successful.

Specific plans are clearly defined and ________.