Exam 5: Planning: The Foundation of Successful Management

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Because of frequently changing competition and technology,a company's strategic planning may have to be done _____.

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With SMART goals only a few goals should be chosen,and they should be results-oriented,that ____.

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Paula is the store manager for a national grocery retailer,and she received the yearly tactical plan from Greg,her district manager.Paula is meeting with her department managers to plan how to implement the specific tasks outlined in Greg's plan for the next year.This type of planning by Paula is operational planning.

(True/False)
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Tom,the store manager in a hardware store,routinely sets specific sales and cost targets for his store,which he promises to achieve in a certain period of time.These specific objectives are known as goals.

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The planning/control cycle has two control steps: (1)control the direction by comparing results with the plan and (2)control the direction by taking corrective action in two ways-namely by _____.

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Standing plans are plans developed for activities that occur repeatedly over a period of time.

(True/False)
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When using MBO,managers should meet about once a year,either informally or formally,to review progress on meeting objectives.

(True/False)
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