Deck 4: Environment, Innovation, and Sustainability

Question 1

Which of the following is NOT an advantage that planning offers?

A) Ensuring success
B) Helping us to sharpen our focus
C) Increasing our flexibility
D) Avoiding complacency

Answer 1

Ensuring success

Question 2

Plans that identify the long-term direction for an organization, including a vision of what and where the organization wants to be in the longer-term, are called __________ plans.

A) extended
B) operational
C) strategic
D) lofty

Answer 2

C

Question 3

Guiding and motivating others to achieve high levels of task accomplishment is called __________.

A) planning
B) organizing
C) leading
D) controlling

Answer 3

C

Question 4

A(n) __________ sets the stage for controlling in the management process; it is hard to exercise control if you have not set objectives.

A) good organization
B) good plan
C) inspired workforce
D) planning fallacy

Question 5

A(n) __________ is a statement of intended means for accomplishing objectives.

A) plan
B) schedule
C) objective
D) idea

Question 6

Specific results that one wishes to achieve are referred to as:

A) measurements.
B) plans.
C) objectives.
D) end points.

Question 7

Objectives should __________.

A) be specific
B) have a lofty goal
C) be a well-kept secret
D) be easily accomplishable

Question 8

Alia, the manager of a pet store, notices that most of the goods that come to her store are packed in high-quality cardboard boxes which are later discarded. She comes up with a plan and instructs her employees to use the cardboard boxes for making scratching boards for cats. She then sells the scratching boards at a price much lower than the other branded versions available in the market. Which of the following describes Alia's planning?

A) Action oriented
B) Priority oriented
C) Advantage oriented
D) Change oriented

Question 9

Which of the following refers to the process of setting goals and objectives and determining how to accomplish them?

A) Organizing
B) Planning
C) Leading
D) Controlling

Question 10

Which of the following refers to the process by which one establishes lower-level objectives in order to meet higher-level objectives?

A) Objective analysis
B) Strategic analysis
C) A hierarchy of objectives
D) A chain of command

Question 11

Plans that usually cover three years or more are called __________ plans.

A) medium
B) operational
C) short-range
D) long-range

Question 12

A(n) __________ clarifies the purpose of an organization and expresses what it hopes to be in the future.

A) budget
B) vision
C) policy
D) procedure

Question 13

Stretch goals are __________.

A) impossible to meet
B) good exercises
C) only for the very best employees
D) difficult and challenging, but achievable

Question 14

Sonya's primary responsibilities include the process of monitoring task accomplishments and taking corrective action in her department. Sonya is mainly involved in the __________ function of management.

A) controlling
B) planning
C) leading
D) organizing

Question 15

Which of the following is the fourth step in the planning process?

A) Implementing a plan
B) Making a plan
C) Defining objectives
D) Developing premises about future conditions

Question 16

Plans that cover a year or less are called __________ plans.

A) medium
B) strategic
C) short-range
D) long-term

Question 17

Which of the following is NOT one of the four functions of management?

A) Planning
B) Controlling
C) Organizing
D) Recruiting

Question 18

Planning includes:

A) allocating and arranging resources.
B) guiding the efforts of human resources.
C) setting goals and objectives.
D) monitoring task accomplishments.

Question 19

The first step in the planning process involves:

A) getting the mundane, trivial things planned first.
B) focusing on easy goals to build momentum.
C) keeping your eye on the past in order to know what you have accomplished.
D) defining your objectives and knowing where you want to go.

Question 20

Allocating and arranging resources in order to accomplish tasks is called __________.

A) controlling
B) planning
C) leading
D) organizing

Question 21

__________ plans deal with the methods and technology needed by people in their work.

A) Financial
B) Facilities
C) Production
D) Marketing

Question 22

At your university, it is required that all students are expected to follow the guidelines concerning sexual harassment. This is an example of a:

A) policy.
B) rule.
C) procedure.
D) law.

Question 23

A ________ budget allows resource allocations to vary with the level of activity.

A) project
B) flexible
C) fixed
D) zero-based

Question 24

A budget that allocates a specific amount of resources for a specific purpose is called a __________ budget.

A) project
B) flexible
C) fixed
D) zero-based

Question 25

Clara has been working as a waitress in a local cafe for 3 years. She had always dreamt of opening up her own cafe. On the death of her grandmother, she finds out that her grandmother has left her a fortune of $15,000. She plans to open a new cafe with the money and hires a professional team to design her cafe's layout. Clara is currently engaged in the developing the ________ for the cafe.

A) financial plans
B) facilities plans
C) marketing plans
D) production plans

Question 26

Which of the following terms precisely describes actions to take in specific situations?

A) Policy
B) Project plan
C) Long-term plan
D) Procedure

Question 27

Plans that define the various short-term activities needed to implement strategic plans are called __________ plans.

A) strategic
B) business
C) operational
D) long-term

Question 28

Sally, a manager at Purple Inc., has just been told that the funds which were left unused in the previous year's budget will not carry over into the current year. Thus, Sally will most likely have to use a __________.

A) project budget
B) flexible budget
C) fixed budget
D) zero-based budget

Question 29

A plan covering the production activities of an organization for three months would be an example of a(n) __________ plan.

A) long-term
B) operational
C) strategic
D) recovery

Question 30

A company poster lists instructions to be followed in case of a fire alarm. This is an example of a(n) __________.

A) policy
B) directive
C) operating plan
D) procedure

Question 31

Management researcher Elliot Jaques believes that most people work comfortably with __________ time spans as planning horizons.

A) one-week
B) three-month
C) five-year
D) ten-year

Question 32

A plan that commits resources to projects or activities is called a __________.

A) strategy
B) vision
C) policy
D) budget

Question 33

Sally, the general manager at Trinkets Inc., has asked the accounting department to prepare a cash flow versus expenditure plan for the next year. Sally is asking for a __________ budget.

A) financial
B) flexible
C) fixed
D) zero-based

Question 34

A budget that compares sales or revenues to expenses is called a(n) __________ budget.

A) operating
B) flexible
C) fixed
D) zero-based

Question 35

Tim places an online order for a smartphone. Instead, he is shipped a dishwashing liquid from a brand named Bling by the seller. Tim posts this incident on a social networking site and it is soon picked up by the media. Richard, the sales manager of Bling, hears about this incident and plans to use it as an opportunity for creating brand awareness of Bling products. Accordingly, he makes arrangement to send Tim the smartphone that he had originally ordered along with two more bottles of Bling dishwashing liquid. When this news reaches the media, people applaud Bling's gesture and Richard achieves his goal of creating brand awareness. Which of the following plans did Richard use in the scenario?

A) Financial plan
B) Facilities plan
C) Tactical plan
D) Production plan

Question 36

All of the following are functional plans EXCEPT

A) production plans.
B) marketing plans.
C) human resources plans.
D) strategic plans.

Question 37

A standing plan that communicates broad guidelines for employees to use when taking decisions and actions is called a __________.

A) policy
B) project plan
C) procedure
D) budget

Question 38

Plans that specifically identify how different parts of an organization will contribute to accomplishing strategic plans are called __________.

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

Question 39

A(n) __________ budget allocates resources as if each budget was brand new.

A) strategic
B) new
C) operating
D) zero-based

Question 40

Maria works for the accounting department of Argon Corp. She has just been told that she needs to develop a budget to spend $50,000 dollars in the next 12 months. Maria has been asked to create a(n) __________ budget.

A) operating
B) flexible
C) fixed
D) zero-based

Question 41

A policy describes exactly what actions should be taken in specific situations.

Question 42

__________ is a technique that makes use of external comparisons to evaluate current performance.

A) Forecasting
B) Benchmarking
C) Allocating
D) Justifying

Question 43

One of the critical pieces of the planning effort is defining objectives.

Question 44

The process of predicting what will happen in the future is called:

A) contingency planning.
B) scenario planning.
C) forecasting.
D) zero-based budgeting.

Question 45

If a forecast is carefully created, it can be relied upon to accurately predict the future.

Question 46

Which of the following terms can be best described as identifying possible future situations and plans for dealing with them?

A) Contingency planning
B) Forecasting
C) Scenario planning
D) Budgeting

Question 47

Contingency planning identifies alternate courses of action to be implemented in order to meet changing circumstances.

Question 48

Short-range plans focus only on two to three months into the future.

Question 49

Trynx Inc., a bicycle manufacturing company, is set to launch a new bicycle with gears. Ryan, the CEO of Trynx, asks the sales manager to come up with an alternative plan in case the new product fails in the market. He also asks the production manager to come with an alternative plan in case the new product's demand increases beyond the production capacity. Ryan has asked the managers to engage in __________.

A) scenario planning
B) financial planning
C) resource planning
D) contingency planning

Question 50

Which of the following refers to the process of developing alternative plans in anticipation of having problems with implementing the existing plan?

A) Contingency planning
B) Forecasting
C) Scenario planning
D) Budgeting

Question 51

One effective way to build commitment to the implementation of a plan is to involve the people who will have to do the implementing in the creation of the plan.

Question 52

Involving others, particularly those who implement the plan, in the planning process is called __________.

A) groupthink
B) marketing research
C) participatory planning
D) selecting alternatives

Question 53

The purpose of strategic plans is to support tactical plans.

Question 54

Jake has been appointed as the new CEO of Zorv Inc., a multinational computer technology company. While formulating a new plan for the company under his management, Jake uses mathematical models and statistical analysis of past data and surveys to predict potential problems and opportunities in the near future. Jake's method of predicting the future best reflects __________.

A) scenario planning
B) contingency planning
C) quantitative forecasting
D) qualitative forecasting

Question 55

Strategic plans define what specific work units need to do in order for the organization to move ahead.

Question 56

The president of Virtual Products LLC is concerned about the next year's economic outlook. Even though next year's plan has been laid out, he has requested his staff to generate another plan that assumes a 10% reduction in sales. This is an example of __________.

A) contingency planning
B) forecasting
C) operation planning
D) budgeting

Question 57

Qualitative approaches to forecasting generally use:

A) statistical analysis of historical data.
B) mathematical models.
C) expert opinions.
D) surveys.

Question 58

Leading consists of guiding the efforts of human resources to ensure high levels of task accomplishment.

Question 59

Each level of the organization should create their plans independently in order to be responsive to the varying needs at each level.

Question 60

__________ are methods that lead to superior performance.

A) Best practices
B) Complacency traps
C) Operating procedures
D) Forecasting

Question 61

__________ are the activation signals for implementing contingency plans.

Question 62

A(n) __________ communicates broad guidelines for making decisions and taking action.

Question 63

What are the four functions of management? Describe each of them.

Question 64

__________ is the process that attempts to predict the future.

Question 65

__________ are specific results that one wishes to achieve.

Question 66

A(n) __________ budget involves approaching each budget cycle as if it were new, starting from scratch each time.

Question 67

A plan that commits resources to projects or activities is called a(n) __________.

Question 68

Effective planning ensures that each level's goals support the goals of the next higher level, thus fitting into a(n) _____ of objectives.

Question 69

__________ is the process of setting goals and objectives and determining how to accomplish them.

Question 70

__________ plans deal with the requirements of selling and distributing goods or services.

Question 71

__________ are developed to implement strategic plans.

Question 72

Explain the concept of a zero-based budget.

Question 73

A(n) __________ clarifies the purpose of an organization and expresses what it hopes to be in the future.

Question 74

In order to get the best performance out of your organization, you should use __________ goals to encourage extra effort.

Question 75

The term __________ can be described as being lulled into inaction by current successes or failures.

Question 76

A planning technique that utilizes external comparisons to better evaluate current internal processes is called __________.

Question 77

Underestimating the time required to complete a task is known as __________.

Question 78

Explain the hierarchy of objectives.

Question 79

What is scenario planning?

Question 80

How does planning fit into the four basic functions of management?