Exam 5: Planning and Decision Making: Part B

Tactical plans specify how a company will use resources, budgets, and people to accomplish specific goals within its mission.

Top management is responsible for developing long-term __________ that make clear how the company will serve customers and position itself against competitors in the next two to five years.

The first step in rational decision making is to:

Management by objectives (MBO) is a management technique often used to develop and carry out:

Which of the following is the most specific type of standing plan?

__________ can help organizations to maintain flexibility as they plan.

To make completely rational decisions, managers would have to operate in a perfect world with no:

The __________ approach to decision making is a method in which an individual or a subgroup is assigned the role of a critic.

One method of weighting decision criteria uses ______, which is a process where each decision criterion is compared directly to every other criterion.

S.M.A.R.T. goals are Specific, Meaningful, Active, Reachable, and Timely.

Managers can monitor __________ to track progress toward goal achievement.

__________ occurs when managers choose an alternative that is good enough, rather than the best possible alternative.