Exam 8: Planning Processes and Techniques

Qualitative forecasting uses expert opinions to predict the future.

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

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

Procedures are stated in employee handbooks and often called _____.

Operating budgets allocate resources like labor, equipment, and space.

The management process involves planning, organizing, leading, and controlling the use of resources to achieve performance objectives.

A __________ is a standing plan that communicates broad guidelines for decisions and action.

Which of the following is true about the use of staff planners?

Without planning, control lacks objectives and standards for measuring how well things are going and what could be done to make them go better.

Riveras, a chain of discount stores, utilized the best retailing strategies of another successful retail chain to create a market for itself. By learning from the retail chain, Riveras has used _____.

The team leader of an IT firm has called for a meeting of all software engineers to view and discuss the course of action for a new software creation project. This is an example of _____.

A(n) ____-based budget allocates resources as if each budget were brand new.

_____ involves identifying several possible future situations or states of affairs and then making plans to deal with each situation should it actually occur.

___ is the process of setting objectives and determining how to accomplish them.

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?

Yoonsuh, the chief technology officer at Namkoong Appliances, is in the process of identifying the results she wants her company to achieve next year. She knows where she wants her company to reach and also has an idea of how far off the desired mark the company will be along the way. She is most likely in the process of:

The current issue of a popular business periodical predicted a global economic downturn. The periodical attributed the downturn to a predicted increase in the inflation rate. This report is an example of _____.

____ make(s) sure that goals everywhere in the organization are linked together to advance its overall mission or purpose.

In order to help implement its corporate strategy, the managers of an organization would most likely develop a(n) _____ plan for the marketing department.

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