Exam 8: Foundations of Planning

Nike, Inc.is a sportswear and equipment manufacturer that serves a multitude of sports disciplines.Which of the following statements from Nike would be the best example of a strategic goal?

Well-written goals are ________.

Which of the following statements is true of planning in dynamic environments?

In a short essay, list and discuss six characteristics of well-designed goals.

An organization's ________ goals are official statements of what an organization says, and what it wants its stakeholders to believe its goals are.

Discuss the impact of planning on organizational performance.

The standard procedure to be followed by the human resources department of a company when initiating disciplinary action against an employee is an example of a standing plan.

Which of the following is one of the elements of a management by objectives (MBO) program?

A problem associated with traditional goal setting is that ________.

Which of the following is an example of a single-use plan?

The number of years used to define short-term and long-term plans has increased considerably because of the greater environmental certainty businesses have today.

In the management by objectives (MBO) process of goal setting, goals are not well-defined, giving managers and employees more flexibility to respond to changing conditions.

Which of the following is the first step in MBO?

White Forest Financials is a small investment firm, operating in an extremely volatile environment.One of the company's two owners, David White, is of the opinion that it would be futile for the company to engage in formal planning as the business environment is constantly shifting.However, the co-owner, Marsha Forest, believes that planning is essential for the company's success.Who would you support? Why?

Planning is concerned with how objectives are to be accomplished, not what is to be accomplished.

When formal planning fails to lead to higher performance, which of the following is most likely to be the reason for the failure?

Short-term plans are those covering ________ or less.

Which of the following is true of the impact of formal planning on organizational performance?

In ________, goals set by top managers flow down through the organization and become subgoals for each organizational area.

The statement that all stores should be well maintained both inside and out is an example of a ________.