Exam 5: Planning and Decision Making

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The three kinds of standing plans are policies, procedures, and rules and regulations.

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The manager of a car manufacturing company in the U.S. wants to set up factories in three​ other countries by the end of the year. After he has set this goal, which of the following is the next step he should take in order to achieve this goal?

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Explain how the rational decision-making process may help to overcome predispositions and biases that a manager has in a given decision-making situation.

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A laptop manufacturer has created a set of methods to deal with specific technical issues raised by customers. These methods are _____.

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Caleb wants to increase the efficiency of his coffee plant. He is trying to decide which option is better: installing new equipment or servicing the old ones. In the context of the decision-making concept, Caleb is _____.

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Which of the following is true about planning?

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List and briefly describe the three kinds of operational plans.

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Identify the four basic steps in the management by objectives process.

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A(n) _____ lists the specific steps, people, resources, and time period for accomplishing a goal.

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Which of the following is the first step ​in establishing a devil's advocacy program?

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The presence of a gap between an existing state and a desired state is no guarantee that managers will make decisions to solve problems.

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Creating and executing a plan is one of the most important tasks of a manager.

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For options-based planning to work, the organization must _____.

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At a canning factory, new employees were instructed to wear a certain type of clothes when working around the canning machine. The description of the clothes was very detailed and specific. Which of the following kinds of standing plans is described in this example?

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For planning to be effective, workers need a specific, challenging goal as well as regular feedback to track their progress.

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On average, companies that create plans have larger profits and grow much faster than companies that don't.

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A daughter of a well-known financier is currently in her first year of college but has decided that she definitely wants to earn an MBA as soon as possible after earning her four-year college degree. Outline the five steps in effective planning and use these planning guidelines to develop an appropriate plan for her.

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The six steps in the rational decision-making process are as follows: (1) frame the problem, (2) identify decision criteria, (3) weight the criteria, (4) generate alternative courses of action, (5) evaluate each alternative, and (6) compute the optimal decision.

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Which of the following statements is true about tactical plans?

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