Exam 5: Planning: The Foundation of Successful Management

During a management meeting,Dave,the CEO of Top Office Equipment,reminded his management team of where the company wants to go as an organization: "Top Office Equipment is the expert whom customers should always call regarding all their office equipment needs because Top Office strives to understand customer needs and provide the right answers for them." This statement is Top Office Equipment's ____.

Donna,the sales manager,asked Al,one of her sales representatives,"Why did you set next year's sales goal at only 90 copiers? This year you are on track to sell 85 copiers,and I believe with your ability,selling 120 copiers would be challenging,but I believe it is realistic and possible." Donna's belief about setting a challenging,yet realistic and attainable goal for Al is an example of a SMART goal.

When the CEO of Tasty Coffee and Bakery dictated that all company districts needed to increase their profitability,district managers across the country focused on improving customer service ratings in their stores by offering customer service training.This goal by the district managers of customer service ratings is an example of a tactical goal.

The purpose of MBO is to ____.

Paula,the store manager,asked Tom to organize the prize giveaways for the store's grand reopening open house.This plan is an example of a(n)___.

Getting a college degree is not only a big goal,it's a hard goal-difficult,stressful,expensive,and time-consuming.

The planning/control cycle has two planning steps: _____.

Upper-level managers prepare the action plans for attaining objectives for all levels of management.

When an employee fails to meet MBO objectives,to reduce embarrassment for that subordinate,the manager should give the employee more time to improve;however,taking strong measures such as demotion is typically incorrect.

When Joseph,a restaurant manager,plans,he sets goals and then decides how to achieve them.This is the definition of planning.

Planning done by middle managers to determine what contributions their departments or similar work units can make with their given resources during the next 6 to 24 months is ____.

Mr.Smith,CEO of an auto dealership,has been working on the two planning steps of the planning/control cycle with his managers.To do this,Mr.Smith and his managers need to make their plan and then carry out the plan.

Strategic goals concentrate on objectives for handling competition and the competitive environment.

The need the firm will fill,the operations of the business,its components and functions,as well as the expected revenues and expenses is expressed in the organization's ____.

A business model outlines what customer needs the company will satisfy,the operations of the business,the company components and functions,and the projected revenue and expenses.

Single-use plans are plans developed for activities that are not likely to be repeated in the future.

Tasty Sandwiches trains its employees to always put the sandwich condiments on the sandwich in the same order.Also,Tasty Sandwiches is known for treating its employees well and enjoys some of the lowest employee turnover in the industry.As a result,it is one of three companies being featured in a 20-minute piece on a national newscast to discuss this honor.Identify the types of standing plans and single-use plans.Discuss how Tasty Sandwiches might apply a standing plan and a single-use plan.Include examples in your response.

One purpose of strategic planning is to "keep the eye on the plan" and avoid invention.

A SMART goal is one that is specific,multidimensional,accurate,and results-oriented,and has target dates.

A company's mission and vision is the foundation of an organization's planning and strategic management.