Exam 8: Planning Processes and Techniques

An organization with focus knows the needs of its customers and knows how to serve them well; an individual with focus knows where he or she wants to go in a career or situation and can retain that objective even in difficult circumstances.

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

A flexible budget allocates resources as if each budget were brand new.

A fixed budget

Only a few key people should be involved in developing plans to keep the plans simple and to facilitate implementation.

Operational plans form the foundation for strategic plans, whereas strategic plans specify the activities and resources that are needed to carry out the operational plans.

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

Typical operational plans in a business would include all the following except

What is the primary difference between a policy and a procedure?

___ plans set broad, comprehensive, and longer-term action directions for the entire organization.

Compare and contrast strategic and tactical plans.

Effective planning improves focus and flexibility, provides an action orientation, helps to improve coordination, and facilitates better control and time management.

A policy of zero-tolerance toward sexual harassment at workplace is an example of ___ plans used by organizations.

Even though the time frames of planning may be shrinking, ___ is/are still responsible for setting longer-term plans and directions for the organization.

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?

Using the opinions of persons with special expertise to make predictions about the future is called qualitative forecasting.

___ is a planning technique that makes use of external comparisons to determine practices used by best-in-class companies to improve performance and identify possible actions for the future.

All managers, regardless of their levels, will use the same time horizon to plan their work activities.

Strategic plans set broad, comprehensive, and longer-term action directions for the entire organization.

In management by objectives (MBO), the objectives that are agreed on by the supervisor/team leader and the subordinates/team members can involve ___.