Question 1

Which of the following statements is true of budgeting?

Accepted Answer

A)   Research suggests that the incremental budgeting approach is most suitable for small to medium-sized enterprises.
B)   Managers typically use budgeting as a planning tool to measure objectives and monitor outcomes.
C)   As a planning tool, budgeting invariably helps managers make good decisions about the integration of organizational levels.
D)   Budgeting processes do not guarantee that managers will make good decisions about organizational priorities. D

Question 2

A manager of a local bookstore is trying to increase his store's productivity without hiring additional employees.He has noticed that a competitor is flourishing with relatively few employees and decides to investigate.This is an example of ________.

Accepted Answer

A)   forecasting
B)   benchmarking
C)   competitive intelligence
D)   contingency planning B

Question 3

Prior to entering the Eastern European markets,Procter & Gamble assessed the strengths and weaknesses of possible competitors and noncompetitors in those markets.Procter & Gamble's actions can be classified as ________.

Accepted Answer

A)   setting objectives and strategies
B)   analyzing the external environment
C)   determining corporate resources
D)   monitoring contingent outcomes B

Question 4

Business-level managers typically are not involved in developing operational plans.

Accepted Answer

A) True 
 B)False

Question 5

How might a Gantt chart be useful to Metal Craft?

Accepted Answer

The answer of How might a Gantt chart be useful...

Question 6

What operational plans are evident in the scenario?

Accepted Answer

The answer of What operational plans are evident in the...

Question 7

Why might real-time adjustments in Metal Craft's plans be necessary?

Accepted Answer

The answer of Why might real-time adjustments in Metal Craft's...

Question 8

A manager of a local flower franchise is investigating her own company's strengths and weaknesses and comparing them with those of her competitors.She is operating at the ________ level.

Accepted Answer

A)   corporate
B)   business
C)   functional
D)   operational

Question 9

Write a short note on strategic plans.

Accepted Answer

The answer of Write a short note on strategic plans....

Question 10

Developing tactical plans is typically the responsibility of ________.

Accepted Answer

A)   functional-level managers
B)   business-level managers
C)   operational-level managers
D)   corporate-level managers

Question 11

Altering the time frame for a goal is most likely to affect ________.

Accepted Answer

A)   the specificity of the goal
B)   the scope of the goal
C)   the realism of the goal
D)   the measurability of the goal

Question 12

What tactical plans are evident in this scenario?

Accepted Answer

The answer of What tactical plans are evident in this...

Question 13

Sespi is a manufacturer of aerated drinks such as colas and other beverages.The finance department is planning to table a capital expenditure budget for the upcoming year.Which of the following items might be accounted for under this budget?

Accepted Answer

A)   stationery items for offices
B)   a new bottling plant
C)   employee payroll
D)   dividend payments for shareholders

Question 14

Which of the following business plans has the broadest scope?

Accepted Answer

A)   strategic plans
B)   tactical plans
C)   operational plans
D)   functional plans

Question 15

Did Mr.Able encourage the sales staff to develop a feeling of ownership toward the goals?

Accepted Answer

The answer of Did Mr.Able encourage the sales staff to...

Question 16

Managers at the functional level focus on how they can achieve the competitive plan of the business.

Accepted Answer

A) True 
 B)False

Question 17

The sales forecasts for the summer season for LocoPoco,a beverage company,indicated increased demand for its colas.However,the actual sales were 30 percent lower than expected.Which of the following could explain the apparent discrepancy above?

Accepted Answer

A)   Research reports revealed that there are harmful additives in colas.
B)   Competitors launched a new brand of bottled water in the market.
C)   Forecasts were based on information derived from external sources.
D)   The firm's advertising budget was slashed by 2 percent.

Question 18

Identify the organizational level where managers would focus on how to facilitate the achievement of the competitive plan of a business.

Accepted Answer

A)   strategic level
B)   corporate level
C)   functional level
D)   business level

Question 19

Environmental analysis,actions,implementations,and outcomes are all elements of the planning process.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is a reason why goals that are too easy to achieve are usually ineffective?

Accepted Answer

A)   Employees are too financially motivated to achieve the goals.
B)   The goals do not deliver substantial results.
C)   Employees are daunted by having to perform at a level much higher than their capabilities.
D)   The goals are not specific enough.

Exam 5: Planning

Which of the following statements is true of budgeting?

A manager of a local bookstore is trying to increase his store's productivity without hiring additional employees.He has noticed that a competitor is flourishing with relatively few employees and decides to investigate.This is an example of ________.

Prior to entering the Eastern European markets,Procter & Gamble assessed the strengths and weaknesses of possible competitors and noncompetitors in those markets.Procter & Gamble's actions can be classified as ________.

Business-level managers typically are not involved in developing operational plans.

How might a Gantt chart be useful to Metal Craft?

What operational plans are evident in the scenario?

Why might real-time adjustments in Metal Craft's plans be necessary?

A manager of a local flower franchise is investigating her own company's strengths and weaknesses and comparing them with those of her competitors.She is operating at the ________ level.

Write a short note on strategic plans.

Developing tactical plans is typically the responsibility of ________.

Altering the time frame for a goal is most likely to affect ________.

What tactical plans are evident in this scenario?

Sespi is a manufacturer of aerated drinks such as colas and other beverages.The finance department is planning to table a capital expenditure budget for the upcoming year.Which of the following items might be accounted for under this budget?

Which of the following business plans has the broadest scope?

Did Mr.Able encourage the sales staff to develop a feeling of ownership toward the goals?

Managers at the functional level focus on how they can achieve the competitive plan of the business.

The sales forecasts for the summer season for LocoPoco,a beverage company,indicated increased demand for its colas.However,the actual sales were 30 percent lower than expected.Which of the following could explain the apparent discrepancy above?

Identify the organizational level where managers would focus on how to facilitate the achievement of the competitive plan of a business.

Environmental analysis,actions,implementations,and outcomes are all elements of the planning process.

Which of the following is a reason why goals that are too easy to achieve are usually ineffective?