Question 1

Which of the following is the purpose of operational plans?

Accepted Answer

A)  They focus on the broad future of the organization. 
B)  They translate tactical plans into specific goals/actions for small organizational units. 
C)  They underscore the interdependence of tactical and strategic plans. 
D)  They align tactical planning with the overall strategic direction of the company. 
A)  They focus on the broad future of the organization. 
B)  They translate tactical plans into specific goals/actions for small organizational units. 
C)  They underscore the interdependence of tactical and strategic plans. 
D)  They align tactical planning with the overall strategic direction of the company.

Question 2

Which of the following is NOT one of the five characteristics of effective goals?

Accepted Answer

A)  specificity 
B)  abstractness 
C)  commitment 
D)  measurability 
A)  specificity 
B)  abstractness 
C)  commitment 
D)  measurability

Question 3

The executive of a certain company states that the firm should adopt the benchmark practices only of other firms in the same industry,as business conditions in other industries are significantly different.Which of the following is the underlying assumption in his argument?

Accepted Answer

A)  The argument assumes that business practices are nontransferable across industries. 
B)  The argument assumes that firms cannot find unique and significantly better ways of doing things by looking outside their competitor set. 
C)  The argument suggests that noncompetitors face different business conditions that make appropriate comparisons difficult. 
D)  The argument is based on the assumption that benchmarking is an ineffective tool for investigating best practices of other firms. 
A)  The argument assumes that business practices are nontransferable across industries. 
B)  The argument assumes that firms cannot find unique and significantly better ways of doing things by looking outside their competitor set. 
C)  The argument suggests that noncompetitors face different business conditions that make appropriate comparisons difficult. 
D)  The argument is based on the assumption that benchmarking is an ineffective tool for investigating best practices of other firms.

Question 4

Knowing who is responsible for specific actions facilitates coordination,especially if multiple people are involved in the execution of a plan.

Accepted Answer

A) True 
 B)False

Question 5

A(n)________ specifies the amount of money a company plans to spend on specific items that have long-term use and require significant financial investments.

Accepted Answer

A)  capital expense budget 
B)  mission statement 
C)  operating budget 
D)  white paper 
A)  capital expense budget 
B)  mission statement 
C)  operating budget 
D)  white paper

Question 6

Which one of the following is a benefit of zero-based budgeting?

Accepted Answer

A)  Items that cannot be justified on their current merits will not be allocated money. 
B)  It requires less time to create than an incremental budgeting approach. 
C)  Managers can rely on last year's budget to identify patterns. 
D)  Expensive items can be justified based on their historical merits. 
A)  Items that cannot be justified on their current merits will not be allocated money. 
B)  It requires less time to create than an incremental budgeting approach. 
C)  Managers can rely on last year's budget to identify patterns. 
D)  Expensive items can be justified based on their historical merits.

Question 7

Are Metal Craft's goals effective?

Accepted Answer

The goals at Metal Craft exhibit four el

Question 8

Which of the following is NOT a key element in developing an action plan?

Accepted Answer

A)  accountability 
B)  sequence and timing 
C)  monitoring the implementation 
D)  making real-time adjustments 
A)  accountability 
B)  sequence and timing 
C)  monitoring the implementation 
D)  making real-time adjustments

Question 9

A catering company manager is proposing the purchase of a new van to enable the company to handle more deliveries.She is working on ________.

Accepted Answer

A)  a sales pitch 
B)  a capital expenditure budget 
C)  an operating budget 
D)  a contingency plan 
A)  a sales pitch 
B)  a capital expenditure budget 
C)  an operating budget 
D)  a contingency plan

Question 10

What strategic plans are evident in this scenario?

Accepted Answer

The overall strategic plan out

Question 11

A manager at a local bookstore is about to allocate extra floor space to an espresso counter when a new coffee shop opens next door.He stops implementation of his plan and instead looks into opening a juice bar.This an example of which of the following?

Accepted Answer

A)  successful budgeting 
B)  real-time adjustment 
C)  sequence and timing 
D)  management by objectives 
A)  successful budgeting 
B)  real-time adjustment 
C)  sequence and timing 
D)  management by objectives

Question 12

What is the focus of executives at the business level?

Accepted Answer

Executives at the business level conside

Question 13

A Gantt chart can help managers devise an action plan in all of the following ways EXCEPT ________.

Accepted Answer

A)  showing the sequence in which the actions will be completed 
B)  showing when actions will start and how long they require for completion 
C)  showing any expected overlap in the timing of specific actions 
D)  showing the course of action to be taken if plans need to be changed during the course of their implementation 
A)  showing the sequence in which the actions will be completed 
B)  showing when actions will start and how long they require for completion 
C)  showing any expected overlap in the timing of specific actions 
D)  showing the course of action to be taken if plans need to be changed during the course of their implementation

Question 14

Ted is a manager at the strategic business unit level of his organization.Which of the following would be one of his responsibilities?

Accepted Answer

A)  facilitating the achievement of the competitive plan of the business 
B)  determining the activities to be performed to meet customer expectations 
C)  deciding whether to expand operations in Brazil 
D)  ensuring coordination across different departments of business 
A)  facilitating the achievement of the competitive plan of the business 
B)  determining the activities to be performed to meet customer expectations 
C)  deciding whether to expand operations in Brazil 
D)  ensuring coordination across different departments of business

Question 15

A community college has to decide if more budget is to be allocated for hiring new instructors or for developing new laboratory facilities.This is an example of ________.

Accepted Answer

A)  determining priorities 
B)  forecasting 
C)  benchmarking 
D)  contingency planning 
A)  determining priorities 
B)  forecasting 
C)  benchmarking 
D)  contingency planning

Question 16

Strategic plans often have longer time frames and are broader in scope than tactical plans.

Accepted Answer

A) True 
 B)False

Question 17

One way to determine that a goal is specific enough is by checking whether its achievement can be measured.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following statements is true about the interrelationship between plan types and levels?

Accepted Answer

A)  Business-level managers may be involved in developing strategic plans for their business units. 
B)  Corporate managers are usually involved in developing tactical plans for their businesses. 
C)  Business-level managers are involved in developing operational plans. 
D)  Functional-level managers largely focus on the development of tactical plans. 
A)  Business-level managers may be involved in developing strategic plans for their business units. 
B)  Corporate managers are usually involved in developing tactical plans for their businesses. 
C)  Business-level managers are involved in developing operational plans. 
D)  Functional-level managers largely focus on the development of tactical plans.

Question 19

What is the major problem with the goal,"We will become the best in the business"?

Accepted Answer

A)  It is not specific enough. 
B)  It is too constricting. 
C)  It is not relevant. 
D)  It is not achievable. 
A)  It is not specific enough. 
B)  It is too constricting. 
C)  It is not relevant. 
D)  It is not achievable.

Question 20

Describe the process of benchmarking.

Accepted Answer

Benchmarking is a popular tool for asses

Which of the following is the purpose of operational plans?

Which of the following is NOT one of the five characteristics of effective goals?

The executive of a certain company states that the firm should adopt the benchmark practices only of other firms in the same industry,as business conditions in other industries are significantly different.Which of the following is the underlying assumption in his argument?

Knowing who is responsible for specific actions facilitates coordination,especially if multiple people are involved in the execution of a plan.

A(n)________ specifies the amount of money a company plans to spend on specific items that have long-term use and require significant financial investments.

Which one of the following is a benefit of zero-based budgeting?

Are Metal Craft's goals effective?

Which of the following is NOT a key element in developing an action plan?

A catering company manager is proposing the purchase of a new van to enable the company to handle more deliveries.She is working on ________.

What strategic plans are evident in this scenario?

A manager at a local bookstore is about to allocate extra floor space to an espresso counter when a new coffee shop opens next door.He stops implementation of his plan and instead looks into opening a juice bar.This an example of which of the following?

What is the focus of executives at the business level?

A Gantt chart can help managers devise an action plan in all of the following ways EXCEPT ________.

Ted is a manager at the strategic business unit level of his organization.Which of the following would be one of his responsibilities?

A community college has to decide if more budget is to be allocated for hiring new instructors or for developing new laboratory facilities.This is an example of ________.

Strategic plans often have longer time frames and are broader in scope than tactical plans.

One way to determine that a goal is specific enough is by checking whether its achievement can be measured.

Which of the following statements is true about the interrelationship between plan types and levels?

What is the major problem with the goal,"We will become the best in the business"?

Describe the process of benchmarking.

The Nature of Management

Social Responsibility and Managerial Ethics

International Management and Globalization

Strategic Management

Organizational Structure and Design

Managing Diverse Human Resources

Leadership

Motivation

Groups and Teams

Communication and Negotiation

Individual and Group Decision Making

Operations Management

Control

Organizational Change and Development

Filters

Exam 5: Planning

Which of the following is the purpose of operational plans?

Which of the following is NOT one of the five characteristics of effective goals?

The executive of a certain company states that the firm should adopt the benchmark practices only of other firms in the same industry,as business conditions in other industries are significantly different.Which of the following is the underlying assumption in his argument?

Knowing who is responsible for specific actions facilitates coordination,especially if multiple people are involved in the execution of a plan.

A(n)________ specifies the amount of money a company plans to spend on specific items that have long-term use and require significant financial investments.

Which one of the following is a benefit of zero-based budgeting?

Are Metal Craft's goals effective?

Which of the following is NOT a key element in developing an action plan?

A catering company manager is proposing the purchase of a new van to enable the company to handle more deliveries.She is working on ________.

What strategic plans are evident in this scenario?

A manager at a local bookstore is about to allocate extra floor space to an espresso counter when a new coffee shop opens next door.He stops implementation of his plan and instead looks into opening a juice bar.This an example of which of the following?

What is the focus of executives at the business level?

A Gantt chart can help managers devise an action plan in all of the following ways EXCEPT ________.

Ted is a manager at the strategic business unit level of his organization.Which of the following would be one of his responsibilities?

A community college has to decide if more budget is to be allocated for hiring new instructors or for developing new laboratory facilities.This is an example of ________.

Strategic plans often have longer time frames and are broader in scope than tactical plans.

One way to determine that a goal is specific enough is by checking whether its achievement can be measured.

Which of the following statements is true about the interrelationship between plan types and levels?

What is the major problem with the goal,"We will become the best in the business"?

Describe the process of benchmarking.

The Nature of Management

Social Responsibility and Managerial Ethics

International Management and Globalization

Strategic Management

Organizational Structure and Design

Managing Diverse Human Resources

Leadership

Motivation

Groups and Teams

Communication and Negotiation

Individual and Group Decision Making

Operations Management

Control

Organizational Change and Development

Filters