Exam 5: Planning and Decision Making

Douclamp, a steel manufacturing company, makes small investments in three iron ore plants in different cities. When one of the plants yields more profit than the others, Douclamp increases its investment in that plant and discontinues its investments in the other plants. In this scenario, Douclamp most likely uses _____.

The managers of Danestump, a hardware manufacturing company, are expected to follow standing plans before approving long leaves applied by their subordinates. The standing plans detail the specific steps to be followed when approving such leaves. Given this information, the standing plans in this scenario can be referred to as _____.

The first step in the Delphi technique is to create a questionnaire consisting of a series of open-ended questions.

Terragemt, a construction company, has to complete the construction of a skyscraper by the end of the next fiscal year. To meet this target, the site engineers have made plans to complete one floor each week. In this scenario, Terragemt's plan to complete one floor each week is an example of a _____.

Shoerls, a footwear manufacturing company, had been purchasing its raw materials from Douglem. When Douglem increased the prices of its products, the production managers at Shoerls decided to purchase the raw materials from a different supplier that they believed would be a good-enough alternative. This scenario best illustrates the concept of _____.

Woolplank is an apparel company that specializes in woolen clothes. It heavily invested in five sheep farms last year. This year, it plans to buy the most profitable sheep farm out of the five. In this scenario, Woolplank is most likely using _____.

In the context of decision making, a _____ is a gap between a desired state and an existing state.

In the context of structured conflict, which of the following is a difference between the devil's advocacy approach and dialectical inquiry?

In the context of rational decision making, which of the following is a difference between maximizing and satisficing?

In the context of operational plans, which among the following is the most specific type of standing plans?

The marketing managers of Point Inc. are having a conflict over how they can improve the marketing strategies of their company. The managers are disagreeing on the views presented by each other based on their experiences and knowledge. In this scenario, the managers are engaging in _____.

Chad is the human resources manager of a chain of stationery stores. The company intends to open two new outlets, and Chad plans to recruit staff for both the outlets by the end of the month. In this scenario, Chad's staffing target serves as a _____.

In the context of brainstorming, _____ is the fear of what others will think of one's ideas.

Jonah, the chief marketing officer of an apparel company, is responsible for formulating a plan that details the countries that the company will venture into during the next three years. When developing the plan, he has to consider the political environment, the ease of doing business, and competition in those countries. In this scenario, Jonah will most likely be contributing to developing the company's _____.

The production team members of Agrimotor, an agricultural machinery manufacturer, are expected to follow standing plans when any of the machinery used for production stops functioning. These standing plans describe what they should and should not do. They also detail how to deal with the situation. Given this information, the standing plans in this scenario can best be referred to as _____.

In the context of using groups to improve decision making, which of the following is a difference between c-type conflict and a-type conflict?

An organization's _____ is defined as a more specific goal than the organization's purpose that unifies company-wide efforts, stretches and challenges the organization, and possesses a finish line and a time frame.

Lee, the chief financial officer of a bank, prepares a plan with a detailed estimate of the company's fixed long-term expenditures. This plan will be presented at the Annual General Meeting every year. In this scenario, Lee has most likely prepared a _____.

Hodecathon, a large company that sells home décor, makes investments in four handicraft stores that supply handicrafts to the company. Depending on the return that Hodecathon gets on these investments, the company plans to buy the most profitable store. In this scenario, Hodecathon is most likely using _____.

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