Exam 5: Planning and Decision Making

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Which of the following is a commonly used method for increasing goal commitment?

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____ is a systematic process of defining problems, evaluating alternatives, and choosing optimal solutions.

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Describe the management by objectives (MBO) process. Which type of manager would be responsible for MBO? What is the probable value of MBO to managers?

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Management by objectives is a management technique often used by middle managers to develop and carry out tactical plans. Middle management is responsible for developing and carrying out tactical plans to accomplish an organization's mission. Tactical plans specify how a company will use resources, budgets, and people to accomplish specific goals related to its strategic objective for the next five years. Management by objectives, or MBO, is a four­step process in which managers and their employees (1) discuss possible goals, (2) collectively select goals that are challenging, attainable, and consistent with the company's overall goals, (3) jointly develop tactical plans that lead to the accomplishment of tactical goals and objectives, and (4) meet regularly to review progress toward accomplishment of those goals.

The _____ is a more specific goal that unifies company-wide efforts, stretches and challenges the organization, and possesses a finish line and a time frame.

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_____ is fear of what others will think of your ideas.

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Encouraging worker participation in goal setting, making goals public, and getting top management's support are all recommended ways to increase goal commitment in a company.

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Groupthink occurs in ____.

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Omega Corp. has a goal of increasing its production and reducing overhead costs. To achieve this goal, the company has developed four alternate action plans. The idea is to monitor how these plans work and then invest more in the one that shows maximum results. This kind of planning that allows for flexibility is known as _____.

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Briefly describe the benefits and pitfalls of planning.

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Which of the following is the first step in management by objectives?

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An organization's purpose must regularly change to adapt to changes in the environment over time.

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Define the terms decision making and rational decision making.

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Merissa, a famous dress designer, wants to launch a new collection. She wants the best material available for her dresses and does not want to settle for anything lesser. In this context, Merissa is _____. ​

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Top management is responsible for developing ____.

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Identify and explain the purpose of the S.M.A.R.T. guidelines.

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Standing plans deal with unique, one-time-only events.

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Tactical plans and objectives are used to direct behavior, efforts, and attention over the next six months to two years.

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Which of the following is a pitfall of planning?

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Identify three ways of increasing goal commitment. Which one is most commonly used by managers?

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What is planning and what are its benefits?

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