Exam 8: Foundations of Planning

Developing Plans As manufacturing manager of a local manufacturer, you are interested in developing a new organisational plan.However, you are unsure about several factors.You are not sure who you should assign to the varying planning tasks and there are several other issues pending, such as the potential formation of a union for employees and rising interest rates.You also have to consider that you have contracts with large vendors that extend five years into the future and there has been enormous investment into overseas expansion scheduled to take place in the next four years. -Refer to Developing Plans (Scenario).You should probably assign yourself and other top executives to help develop the ________ plan.

'Qualitative forecasting' uses the judgment and opinions of knowledgeable individuals.

It's Academic You are a Faculty Dean for a regional university and your university Vice Chancellor has asked you to develop a plan for the faculty.He wants a plan covering the next five years and he wants it to be as specific as possible yet not overly constraining and containing some flexibility.The Vice Chancellor states that he wants the plan to be accurate so as not to waste time and so you will be well positioned for the future. -Refer to It's Academic (Scenario).Which of the following is NOT one of the purposes for which your boss asked you to develop a plan?

Planning integrates and coordinates work.

Bluescope's plans on changing their roof paint colour scheme because they believe that in the future, people will be interested in purchasing environmentally-friendly roofing material is an example of what kind of environmental scanning?

The commitment concept means that plans should extend far enough to meet those commitments made today.

Where in the organisational hierarchy are traditional goals determined?

The effect of planning on managers is that it forces them to do which of the following?

In a typical MBO program, successful achievement of objectives is reinforced by performance-based rewards.

________ is often called the primary management function because it establishes the basis for all the other functions that managers perform.

Are strategic or operational plans needed? Does long-term planning make sense in all situations? These decisions are affected by three contingency variables.In a short essay, list the three planning contingency factors and illustrate how these factors influence planning.

________ forecasting applies a set of mathematical rules to a series of past data to predict outcomes.

A manager who applies a set of mathematical rules to a series of past data to predict outcomes is engaging in 'qualitative forecasting'.

In order to be successful, an organisation should follow what advice concerning objectives?

Objectives are goals.

________ are often conflicting and excessively influenced by what society believes organisations should do.

Most methods of environmental scanning that involve competitor intelligence are illegal.

Which of the following is one suggestion for improving forecasting effectiveness?

If a manager wanted to predict the effect of microwave ovens on the sale of conventional ovens, he would probably use the quantitative technique termed ________.

In the Management by Objectives (MBO)system ________.