Question 1

Good time management includes all the following except

Accepted Answer

A)  say no to requests that divert you from what you should be doing. 
B)  have a system for screening telephone calls, emails, and requests for meetings. 
C)  don't let drop-in visitors or instant messages use too much of your time. 
D)  follow priorities; work on the most important and urgent tasks first. 
E)  do not leave details for others to address or for later.

Question 2

Quantitative forecasting techniques use expert opinions to predict the future, whereas qualitative forecasting uses mathematical analyses to predict future events.

Accepted Answer

A) True 
 B)False

Question 3

Contingency planning does not specify different courses of action under different conditions.

Accepted Answer

A) True 
 B)False

Question 4

Companies should provide employees with clear and quantified work goals to help managers and employees identify problems before they interfere with performance.

Accepted Answer

A) True 
 B)False

Question 5

Financial budgets

Accepted Answer

A)  project cash flows and expenditures. 
B)  plot anticipated sales or revenues against expenses. 
C)  allocate resources like labour, equipment, and space. 
D)  allocate a stated amount of resources for a specific purpose. 
E)  allow resources to vary in proportion with various levels of activity.

Question 6

Riveras, a chain of discount stores, utilized the best retailing strategies of another successful retail chain to create a market for itself. By Learning from the retail chain, Riveras has used ___.

Accepted Answer

A)  qualitative forecasting 
B)  quantitative forecasting 
C)  scenario planning 
D)  external benchmarking 
E)  internal benchmarking

Question 7

Performance targets that we must work extra hard to reach are called ___.

Accepted Answer

A)  stretch goals 
B)  tactical goals 
C)  objectives 
D)  plans 
E)  missions

Question 8

The purpose of ___ is to find out what other people and organizations are doing very well, and planning how to incorporate these ideas into one's own operations.

Accepted Answer

A)  contingency planning 
B)  scenario planning 
C)  benchmarking 
D)  forecasting 
E)  participation

Question 9

___ are single-use plans that commit resources for specific time periods to activities, projects, or programs.

Accepted Answer

A)  Procedures 
B)  Policies 
C)  Guidelines 
D)  Budgets 
E)  Forecasts

Question 10

Yoonsuh, the chief technology officer at Namkoong Appliances, is in the process of identifying the results she wants her company to achieve next year. She knows what she wants her company to achieve and has an idea of how far off the desired mark the company is currently. She is most likely in the process of

Accepted Answer

A)  developing premises regarding future conditions. 
B)  defining her company's objectives. 
C)  analyzing her company's alternatives and planning. 
D)  implementing the plan and evaluating the results. 
E)  determining where her company stands vis-à-vis objectives.

Question 11

A zero-based budget and a project schedule are examples of standing plans that are designed to cover recurring situations.

Accepted Answer

A) True 
 B)False

Question 12

___ are developed and used to implement strategic plans.

Accepted Answer

A)  Tactical plans 
B)  Visions 
C)  Operational plans 
D)  Missions 
E)  Procedures

Question 13

Without ___, ___ lacks the follow-through needed to ensure that things work as planned.

Accepted Answer

A)  controlling; organizing 
B)  planning; controlling 
C)  controlling; leading 
D)  planning; problem solving 
E)  controlling; planning

Question 14

___ is the use of external and internal comparisons to better evaluate one's current performance and identify possible ways to improve for the future.

Accepted Answer

A)  Qualitative forecasting 
B)  Quantitative forecasting 
C)  Scenario planning 
D)  Contingency planning 
E)  Benchmarking

Question 15

Nakatomi Inc. wants to open a new automobile manufacturing unit in Kasnia. Kaoruko's team is assigned the task of planning the layout of the new factory in Kasnia. In this scenario, Kaoruko is dealing with the ___ plan.

Accepted Answer

A)  facilities 
B)  financial 
C)  operational 
D)  marketing 
E)  inventory

Question 16

Benchmarking is done to determine what other organizations are doing well and planning on incorporating those good ideas into one's own organization.

Accepted Answer

A) True 
 B)False

Question 17

Procedures present a plan of action for specific situations whereas policies are broad guidelines.

Accepted Answer

A) True 
 B)False

Question 18

A(n) ___ is a statement of action steps to be taken to accomplish the objectives.

Accepted Answer

A)  concept 
B)  objective 
C)  guideline 
D)  goal 
E)  plan

Question 19

As Hazel Inc.'s original suppliers have suddenly shut down, it is now making plans to find alternate suppliers to provide resources for its manufacturing plant. Such plans are referred to as ___ plans.

Accepted Answer

A)  production 
B)  facilities 
C)  marketing 
D)  logistics 
E)  financial

Question 20

When a university issues a statement that it "… will not tolerate sexual harassment in relation to the evaluation of employee or student performance …," a ___ plan in the form of an organizational ___ is being communicated.

Accepted Answer

A)  single-use; procedure. 
B)  standing-use; rule. 
C)  standing; procedure. 
D)  single-use; policy. 
E)  standing; policy.

Exam 8: Planning Processes and Techniques

Good time management includes all the following except

Quantitative forecasting techniques use expert opinions to predict the future, whereas qualitative forecasting uses mathematical analyses to predict future events.

Contingency planning does not specify different courses of action under different conditions.

Companies should provide employees with clear and quantified work goals to help managers and employees identify problems before they interfere with performance.

Financial budgets

Riveras, a chain of discount stores, utilized the best retailing strategies of another successful retail chain to create a market for itself. By Learning from the retail chain, Riveras has used ___.

Performance targets that we must work extra hard to reach are called ___.

The purpose of ___ is to find out what other people and organizations are doing very well, and planning how to incorporate these ideas into one's own operations.

___ are single-use plans that commit resources for specific time periods to activities, projects, or programs.

A zero-based budget and a project schedule are examples of standing plans that are designed to cover recurring situations.

___ are developed and used to implement strategic plans.

Without _, _ lacks the follow-through needed to ensure that things work as planned.

___ is the use of external and internal comparisons to better evaluate one's current performance and identify possible ways to improve for the future.

Nakatomi Inc. wants to open a new automobile manufacturing unit in Kasnia. Kaoruko's team is assigned the task of planning the layout of the new factory in Kasnia. In this scenario, Kaoruko is dealing with the ___ plan.

Benchmarking is done to determine what other organizations are doing well and planning on incorporating those good ideas into one's own organization.

Procedures present a plan of action for specific situations whereas policies are broad guidelines.

A(n) ___ is a statement of action steps to be taken to accomplish the objectives.

As Hazel Inc.'s original suppliers have suddenly shut down, it is now making plans to find alternate suppliers to provide resources for its manufacturing plant. Such plans are referred to as ___ plans.

When a university issues a statement that it "… will not tolerate sexual harassment in relation to the evaluation of employee or student performance …," a _ plan in the form of an organizational _ is being communicated.