Question 1

_____ define the boundaries within which to make a decision.

Accepted Answer

Policies define the principles and guidelines within which decisions can be made. Programs, rules, procedures, and projects are more specific in nature and do not necessarily provide the overarching boundaries for decision-making.

Question 2

Which of these is true about single-use plans?

Accepted Answer

Single-use plans are developed to achieve a set of goals that are unlikely to be repeated in the future, such as developing a budget for a specific event or creating a marketing plan for a product launch.

Question 3

The crisis management plan should be a _____ that specifies the actions to be taken,and by whom,if a crisis occurs.

Accepted Answer

The crisis management plan should be a detailed written plan that specifies the actions to be taken and by whom if a crisis occurs. A detailed written plan is easier to reference and follow in a high-stress situation.

Question 4

Which of these is a method of management whereby managers and employees define goals for every department,project and person and use them to monitor subsequent performance?

Accepted Answer

Management by objectives is a management method where managers and employees define goals for various departments, projects, and individuals then use these goals to monitor the subsequent performance. The method ensures each person is well aware of what is expected of them, leading to increased productivity.

Question 5

_____ are reasonable yet highly ambitious goals that are clear,compelling,and imaginative so much that they can fire up employees and engender excellence.

Accepted Answer

Stretch goals are extremely challenging yet feasible goals that are clear and inspiring, which have the potential to stimulate creative thinking and innovation while motivating individuals to give their best effort.

Question 6

_____ involves looking at trends and discontinuities and imagining possible alternative futures to build a framework within which unexpected future events can be managed.

Accepted Answer

The description fits the concept of scenario building, which involves exploring different future scenarios and developing plans of action to address unexpected events that may occur. Crisis planning and contingency planning both involve preparing for unexpected events but do not necessarily involve scenario building. Trend management and caution planning are not recognized concepts in the field of future planning.

Question 7

Which of the following is a most commonly-cited limitation of planning?

Accepted Answer

One of the most commonly-cited limitations of planning is that it can create a false sense of security. This happens when a plan is developed, and the planners assume that everything will go as planned, which may not always be the case. This false sense of security can lead to complacency, which can ultimately result in failure.

Question 8

A(n)_____ is a cross-functional group of managers and employees who work together to gain a deeper understanding of a specific business issues,with the aim of presenting intimate insights that are issue related.

Accepted Answer

The answer of A(n)_____ is a cross-functional group of managers...

Question 9

The traditional approach to corporate planning was to:

Accepted Answer

The traditional approach to corporate planning involves having a centralized planning department, where all planning decisions are made and implemented by a single group of experts. This allows for greater control and coordination of the planning process, as well as the ability to develop a unified vision and strategy for the entire organization.

Question 10

_____ is the first step in the Management Buy Out process.

Accepted Answer

Setting goals is the first step in the Management Buy Out process as it helps the management team identify their objectives and assess the feasibility of the buyout. Without setting clear goals, it can be difficult to develop action plans and measure progress towards achieving the desired outcome.

Question 11

_____ enables firms to cope with unexpected events that are so sudden and devastating that they have the potential to damage the organization if managers are not prepared with a quick and appropriate response.

Accepted Answer

Crisis planning is the process of preparing an organization to respond to an unexpected event that could potentially harm its reputation, operations, or financial performance. This type of planning enables firms to quickly and effectively respond to crises and mitigate their impact.

Question 12

Which of the following is NOT one of the benefits of MBO?

Accepted Answer

Operational goals should support and contribute to the achievement of strategic goals, not displace them. This is not a benefit of MBO.

Question 13

The two critical stages of crisis planning include:

Accepted Answer

The two critical stages of crisis planning are prevention and preparation. Prevention involves taking steps to avoid a crisis from happening or reducing its likelihood, while preparation involves developing a plan of action in case a crisis does occur. Control, leading, and organizing are important aspects of crisis management, but they are separate stages that come after the crisis has already begun. Planning is also important, but it is included in the preparation stage.

Question 14

A project is an example of a:

Accepted Answer

A project is a temporary endeavor with a defined beginning and end, and it is meant to achieve a specific goal. Therefore, it is an example of a single-use plan. The other options (policy, standing plan, procedure, and rule) all refer to ongoing and repeated actions, whereas a project is a unique and time-limited effort.

Question 15

One major limitation of goals and plans is:

Accepted Answer

Goals and plans can lead to rigidity because they may not allow for flexibility or adaptation in response to unexpected changes or challenges in a turbulent environment.

Question 16

_____ is the final step in the MBO process.

Accepted Answer

The final step in the MBO (Management by Objectives) process is to appraise overall performance, which involves evaluating progress made toward achieving the set goals and objectives. This assessment helps to determine if the goals were realistic, if the plan was executed effectively, and if any adjustments need to be made for the future.

Question 17

Which of these are true about contingency plans?

Accepted Answer

Contingency plans are developed to define the company's responses to specific situations, such as emergencies or setbacks. Option A is incorrect because contingency plans are usually developed for situations that may be repeated in the future. Option B is incorrect because standard operating procedures provide guidance for tasks performed repeatedly within the organization. Option D is incorrect because contingency plans are important in all organizations, not just some.

Question 18

In using MBO,negotiated objectives should be set by the:

Accepted Answer

In MBO, negotiated objectives should be set by both the supervisor and the employee jointly to ensure a collaborative and participative approach to goal setting. This helps to promote employee engagement, accountability, and motivation towards achieving the objectives. It also allows for a better alignment of individual and organizational goals, which can lead to improved performance and productivity.

Question 19

Which of the following is NOT involved in the stages of crisis planning?

Accepted Answer

Investigating all secondary stakeholders is not a stage in crisis planning. The other options listed are all important components of effective crisis planning.

Question 20

An example of a _____ is a statement supporting the organization's efforts in the area of employee harassment.

Accepted Answer

The statement supporting the organization's efforts in the area of employee harassment is an example of a policy, which is a broad guideline for decision making and action within an organization. Procedures are specific step-by-step instructions for carrying out a particular task, while rules are specific directives that must be followed. Single-use plans are developed for a specific project or event, and programs are a coordinated set of activities designed to achieve a specific goal.

Quiz 7: Managerial Planning and Goal Setting