Exam 8: Planning Processes and Techniques

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

Sahoko, the manager of a construction company, oversees allocating equipment and construction workers to different construction projects. She allocates most of the equipment and workers to high priority projects. In this scenario, Sahoko creates a ___ budget.

Which of the following is a long-term version of contingency planning?

An organization with flexibility operates with an orientation toward the past rather than the future.

According to Covey, good planning helps an organization to be

Leading refers to guiding the efforts of human resources to ensure high levels of task accomplishment.

A(n) ___ plan identifies short-term activities to implement the broad plans of the company, and includes standing plans and single-use plans.

Operating budgets allocate resources like labour, equipment, and space.

A magazine publishes forecasts of industry conditions, interest rates, unemployment trends, and national economies every quarter. It uses expert opinion to predict the future. This method of forecasting the future falls under the category of ___ forecasting.

Planning is the process of setting objectives and determining what should be done to accomplish them.

Budgets are standing plans that are used repeatedly.

The planning process is a systematic way of ensuring that performance objectives have been attained.

Planning is a five-step process that includes defining objectives, determining current status relative to objectives, developing premises regarding future conditions, analyzing action alternatives and choosing among them, and implementing the plan and evaluating results.

Strategic goals set by top management cascade down the organization step by step to become quality management objectives for lower levels.

___ are longer-term plans that set broad directions for the organization.

Which of the following is a standing plan?

Silver Finance requires that its interest rate planning process include its employees, managers, some customers, and others who will be affected by the resulting plans and/or will be asked to help implement them. Silver Finance is utilizing ___.

Effective ___ involves choices about the allocation of time to the most important priorities.

Which of the following are implications of research conducted by Elliot Jacques?

The planning process is a systematic way of setting performance objectives and deciding how to best achieve them.