Exam 2: Fundamentals of Planning

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Objectives should be set such that they can be met through average effort.

(True/False)
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A _____ is a forecast of expected financial performance over time.

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A budget is considered to be a type of standing plan.

(True/False)
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Supervisors normally do not establish policies, even within their own departments.

(True/False)
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Discuss important guidelines in setting performance objectives.

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What are the three steps in the planning process?

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The _____ is used on highly complex, one-time projects.

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Unified planning means that all departments help decide what the plans of the entire organization should be.

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Which of the following management levels is involved with short-range plans of 1 day, 1 week, or 1 to 6 months?

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Which of the following is a planning step that immediately follows the establishment of a goal by a manager?

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Because objectives focus attention and effort, it is better to have as many objectives as possible that cover not only the important areas but areas which are less important too.

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In a hierarchy of objectives, top managers establish goals that reflect the goals of the middle and supervisory management levels.

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Operational planning:

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Which of the following is the first step in planning?

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Explain hierarchy of objectives.

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Discuss two techniques used for scheduling.

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Strategic planning has longer time horizons.

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Describe the difference/s between standing plans and single-use plans, and give an example of each type of plan.

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In any organization, objectives are first needed at the top management level.

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The _____ identifies work stages on a vertical axis and schedule completion dates horizontally.

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