Question 1

Plans that define what needs to be done in specific functions or work units in order to implement strategic plans and achieve strategic objectives are called:

Accepted Answer

Operational plans are detailed plans that outline the specific actions needed within functions or work units to implement strategic plans and achieve strategic objectives.

Question 2

A _________ is an example of a single-use plan.

Accepted Answer

A monthly operating budget is a single-use plan because it is designed for a specific period and needs to be recreated or revised for subsequent periods.

Question 3

Which of the following statements about forecasting is NOT true?

Accepted Answer

Forecasting is used to inform planning by providing estimates of future conditions or events, but it does not replace the need for planning itself. Planning involves setting goals, developing strategies, and outlining tasks and schedules to achieve those goals, which forecasting alone cannot accomplish.

Question 4

Which one of the following statements does NOT accurately describe budgets?

Accepted Answer

Budgets are not standing plans; they are typically single-use plans designed for a specific period or purpose.

Question 5

Which one of the following statements does NOT accurately describe a good project schedule?

Accepted Answer

A good project schedule should specify resource requirements, including what resources are needed and when they are needed, to ensure that the project can be completed efficiently and effectively.

Question 6

When a project or activity is budgeted in each new budget cycle as if it were brand new, a(n) __________ budgeting approach is being used.

Accepted Answer

Zero-based budgeting is the approach where every project or activity is reviewed and budgeted from the ground up as if it were new in each budget cycle, without reference to previous budgets.

Question 7

__________ plans address long-term needs and set comprehensive action directions for an organisation or subunit.

Accepted Answer

Strategic plans are designed to address long-term needs and establish a comprehensive direction for an organization or its subunits. They focus on achieving major goals and objectives over an extended period.

Question 8

How are strategic plans and operational plans related?

Accepted Answer

Strategic plans focus on long-term goals and objectives, while operational plans are detailed plans that outline how to achieve the strategic goals.

Question 9

Company LMN, a toy manufacturer, has discovered that one of its suppliers has used lead-based paint on one of its products. It is the week before Christmas. The executive committee has assembled a team to devise a plan to mitigate the issue. LMN is using:

Accepted Answer

Tactical planning involves short-term actions and plans to address immediate issues or opportunities, such as mitigating a crisis like the use of lead-based paint just before Christmas.

Question 10

__________ communicate broad guidelines for making decisions and taking action in specific circumstances.

Accepted Answer

Policies communicate broad guidelines for making decisions and taking action in specific circumstances. They provide a general framework that helps to ensure consistency and fairness in decision-making across an organization.

Question 11

Using the opinions of persons with special expertise to make predictions about the future is called:

Accepted Answer

Qualitative forecasting relies on expert opinions and other non-numeric information to predict future events, making it the correct choice for using the opinions of persons with special expertise for predictions.

Question 12

A ______________ helps to implement all or parts of a strategic plan.

Accepted Answer

A tactical plan helps to implement specific parts of a strategic plan, translating broad strategies into specific, actionable steps that departments or teams can follow.

Question 13

When a university issues a statement that it 'will not tolerate sexual harassment in relation to the evaluation of employee or student performance', a __________ plan in the form of an organisational __________ is being communicated.

Accepted Answer

This statement represents a standing (ongoing) policy (a set of principles or rules) that the university has adopted to guide its actions and decisions regarding sexual harassment.

Question 14

__________ are often found in employee manuals as standard operating procedures.

Accepted Answer

Rules are often found in employee manuals as standard operating procedures to guide employee actions and ensure consistency in operations.

Question 15

__________ or __________ describe exactly what actions are to be taken in specific situations.

Accepted Answer

Rules or procedures describe exactly what actions are to be taken in specific situations, providing clear instructions for specific scenarios.

Question 16

Which level of management spends more time with long-range planning?

Accepted Answer

Top-level managers are responsible for long-range planning, setting the overall direction and goals for the organization, and ensuring its long-term growth and survival.

Question 17

Which of the following statements BEST distinguishes between procedures and policies?

Accepted Answer

Procedures are detailed step-by-step instructions on how to accomplish a specific task, essentially providing a plan of action for specific situations. Policies, on the other hand, are broad guidelines designed to guide decision-making and ensure consistent and efficient operations across an organization.

Question 18

Policies and procedures that are used repeatedly are called:

Accepted Answer

Standing plans are policies and procedures that a company uses repeatedly to handle frequently occurring events. They provide guidelines for decision making and action in repetitive situations.

Question 19

__________ plans set broad, comprehensive and longer term action directions for the entire organisation.

Accepted Answer

Strategic plans are designed to set broad, comprehensive, and long-term action directions for the entire organization. They focus on achieving major goals and objectives to guide the organization into the future.

Question 20

_________ are single-use plans that identify a set of activities required to accomplish specific major task objectives.

Accepted Answer

Project schedules are single-use plans designed to outline the specific activities and timelines necessary to accomplish major task objectives. They are tailored for unique or one-time projects, distinguishing them from recurring plans or rules.

Quiz 8: Planning