Exam 6: The Basics of Planning and Project Management

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Charlie's Dilemma Charlie, an operations manager at an investment firm, is looking for information on management by objectives (MBO). One of his employees suggested implementing the MBO process but Charlie is not sure what impact it would have on the motivation and productivity of his staff. Can you help? -Refer to Charlie's Dilemma. During which phase of the MBO cycle should Charlie hold face-to-face meetings with his employees at three- or six-month intervals?

(Multiple Choice)
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"Should do" objectives fall into the ____ priority category.

(Multiple Choice)
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Wondering if a house you bought will increase in value is an example of response uncertainty.

(True/False)
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The break-even point is where the ____ line crosses the ____ line in a graphic break-even analysis.

(Multiple Choice)
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Program evaluation and review technique (PERT) was developed by Microsoft.

(True/False)
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Erin runs a designer handbag business and wants to know how often she should have face-to-face management by objectives (MBO) meetings with her department managers. Based on standard practice, what should you tell her?

(Multiple Choice)
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Planning is often referred to as the primary management function because it affects all other management functions such as organizing and staffing.

(True/False)
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Facebook founder Mark Zuckerberg's first Internet software launch was called Course Match which allowed students at Harvard to pick classes based on who else was registered to take them.

(True/False)
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A(n) ____ is the exact opposite of a reactor.

(Multiple Choice)
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A "follow-the-leader" or imitator response to an uncertain environment refers to a(n)

(Multiple Choice)
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Project-based organizations are becoming the norm today because

(Multiple Choice)
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Charlie's Dilemma Charlie, an operations manager at an investment firm, is looking for information on management by objectives (MBO). One of his employees suggested implementing the MBO process but Charlie is not sure what impact it would have on the motivation and productivity of his staff. Can you help? -Refer to Charlie's Dilemma. Which of these would be the first step in the MBO process?

(Multiple Choice)
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Break-even analysis is an excellent "what-if" tool for planners who want to know what impact price changes will have on profit.

(True/False)
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The process of determining how to pursue the organization's long-term goals with the resources expected to be available refers to ____ planning.

(Multiple Choice)
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An objective deals with achieving a measurable result without regard to time.

(True/False)
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For organizations like Facebook and Pollo Campero, planning is a(n) __________ process.

(Multiple Choice)
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Kodak continues to grapple with its transition from film-photography to digital photography, which exploded in the mid-1990s. Kodak can best be described as a(n)

(Multiple Choice)
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Variable costs are related to time, while fixed costs are related to volume.

(True/False)
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A computer store has a profit goal of $50,000 for computers selling for $1,000 per unit. Its fixed costs are $30,000, and its contribution margin is $100. According to break-even analysis, how many units must be sold to meet the profit goal?

(Multiple Choice)
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The relationship between planning and control can best be summed up by which statement?

(Multiple Choice)
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