Exam 7: Managerial Planning and Goal Setting

Planning cannot tame a turbulent environment.

The organization's reason for existence is known as the organization's _____.

Top managers make the broad strategic plan and identify specific tactical plans.

The official goals of the organization are best represented by the _____.

Management by objectives, single-use plans, and standing plans are all management planning approaches.

Focusing manager and employee efforts on activities that will lead to goal attainment is a benefit of what management method?

Goals and plans provide a sense of direction and focus on specific targets and direct employee efforts toward important outcomes.

Sam is in charge of strategy control at Lanser's, a large clothing retailer. He regularly tracks sales in relation to targets, number of products on back order, and percentage of customer service calls resolved within specified time periods. These metrics are known as:

Strategic plans and goals are those that focus on where the organization wants to be in the future and pertain to the organization as a whole.

Which of the following is a visual representation of the key drivers of an organization's success, showing the cause-and-effect relationships among goals and plans?

Planning is the act of determining the organization goals and the means for achieving them.

Jerrica, a finance manager at LRV industries, is asked by her boss to develop a plan in the event that company sales drop by 20 percent or more. This type of plan is known as _____.

Goals specify today's means; plans specify future ends.

In centralized planning, managers at all levels work with planning experts to develop their own goals and plans.

The process of planning changes and evolves over time, just like all aspects of effective management. Think of an organization with which you are fairly familiar, such as your employer or your college or university. Then choose one of the four planning approaches listed below, and write a short essay explaining how the organization could effectively use the chosen planning approach to improve its performance in a turbulent environment. Decentralized planning Stretch goals Performance dashboards Intelligence teams

_____ plans are developed at the lower levels of the organization to specify action steps toward achieving operational goals and to support tactical plans.

At the top of the goal hierarchy is:

_____ specify future ends and _____ specify today's means.

A key benefit of management by objectives is that it aligns individual and departmental goals with company goals.

The ABC Corporation should create a crisis management group that is not cross-functional, but does work together well under pressure.