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Exam 5: Plans and Planning Techniques: Get There Faster With Objectives

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Question 1

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

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Question 2

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Plans that usually cover three years or more are called __________.

A) medium
B) operational
C) short-range
D) long-range

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Question 3

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A plan that commits resources to projects or activities is called a(n) __________.

Plans done by the various departments, such as marketing and manufacturing, are called functional plans.

Most people are comfortable with a time horizon of:*

A ________ type of budget allows resource allocations to vary with the level of activity.

A budget that compares sales or revenues to expenses is called a(n) __________ budget.

A planning technique that utilizes external comparisons to evaluate internal processes is called __________.

If a forecast is carefully created, it can be relied upon to accurately predict the future.

A common phrase used to define the things that world class companies do better than others is __________.*

Involving others, particularly those who implement the plan in the planning process is called __________.

Each level of the organization should create their plans independently, in order to be responsive to the varying needs at each level.

Strategic plans define what specific work units need to do in order for the organization to move ahead.

A policy describes exactly what actions should be taken in specific situations.

A plan covering production activities for the three months would be an example of a(n) __________ plan.

Contingency planning identifies alternate courses of action to be implemented in order to meet changing circumstances.

A(n) __________ budget involves approaching each budget cycle as if it were new, starting from scratch each time.

A process by which one establishes lower-level objectives in order to meet higher-level objectives is called _____________.*

The process of developing alternative plans, in anticipation of having problems with implementing the existing plan is called __________.*

Which of the following techniques makes use of external comparisons to evaluate current performance?*