Question 1

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

Accepted Answer

Ensuring success is not an advantage that planning offers because while planning can increase the likelihood of success by setting clear goals and establishing a roadmap to achieve them, it cannot guarantee success due to unforeseen circumstances and external factors.

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.

Accepted Answer

Strategic plans are designed to outline the long-term goals and direction of an organization, including a vision of where the organization wants to be in the future. Extended and lofty plans are not commonly used terms in strategic planning. Operational plans, on the other hand, focus on specific activities and short-term goals to support the implementation of the larger strategic plan.

Question 3

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

Accepted Answer

Leading involves guiding and motivating others towards achieving high levels of task accomplishment. Planning involves setting goals and objectives, organizing involves arranging resources to achieve those goals, and controlling involves monitoring and adjusting performance to ensure that goals are met.

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.

Accepted Answer

A good plan sets clear and specific objectives, which are necessary for effective control in the management process. Without objectives, it is difficult to measure progress and make adjustments as needed. Good organization and an inspired workforce can support control, but they are not sufficient without a clear plan in place. Planning fallacy is a bias that can lead to underestimating the time and resources needed to complete a task, but it is not directly related to setting objectives for control.

Question 5

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

Accepted Answer

A plan is a statement or blueprint for achieving objectives, outlining the intended means or steps for reaching those objectives. A schedule is more specific to the timing or order of those steps, whereas an objective is the desired outcome or goal. An idea is a concept or thought that may or may not have a specific plan associated with it.

Question 6

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

Accepted Answer

Objectives are specific results that one wishes to achieve. Measurements refer to the data that is collected to assess progress towards the objectives. Plans are the actions taken to achieve the objectives. End points refer to the final outcome or result of achieving the objectives.

Question 7

Objectives should __________.

Accepted Answer

Objectives should be specific and clear so that they can help guide actions and measure progress effectively. Lofty goals may be motivational, but they may not be achievable, and objectives should not be a secret or 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?

Accepted Answer

Alia's plan to repurpose cardboard boxes into scratching boards for cats and sell them at a lower price demonstrates a focus on leveraging existing resources to create a competitive advantage, hence it is advantage oriented.

Question 9

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

Accepted Answer

Planning is the process of setting goals and objectives and determining how to accomplish them. Organizing involves arranging resources and activities to achieve the goals, leading involves motivating and directing employees towards the goals, and controlling involves monitoring progress and making adjustments as necessary.

Question 10

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

Accepted Answer

A hierarchy of objectives refers to the process of breaking down higher-level objectives into smaller, more specific lower-level objectives. This helps in ensuring that all objectives are aligned and that the organization is working towards achieving its overall goals. Objective analysis is the process of evaluating and measuring objectives, strategic analysis is the process of assessing the organization's overall strategy, and a chain of command refers to the line of authority in an organization.

Question 11

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

Accepted Answer

Long-range plans are usually considered to cover three years or more, while short-range plans cover one year or less, and medium-range plans cover two to three years. Operational plans refer to specific activities and tasks needed to achieve the objectives set out in the strategic plan.

Question 12

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

Accepted Answer

A vision statement clarifies the purpose of the organization and expresses its aspirations for the future. A budget outlines the financial plan for the organization, while policies and procedures provide guidelines for how it operates.

Question 13

Stretch goals are __________.

Accepted Answer

Stretch goals are meant to be challenging enough to push individuals or teams to go beyond their current capabilities and achieve more than what is expected. However, they should still be achievable with effort and hard work. Therefore, option D is the best choice as it describes stretch goals as being difficult and challenging, but still within the realm of possibility.

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.

Accepted Answer

Sonya's primary responsibility of monitoring task accomplishments and taking corrective action is part of the controlling function of management. The controlling function involves setting performance standards, monitoring actual performance, and taking corrective action when necessary to ensure goals are being met.

Question 15

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

Accepted Answer

The fourth step in the planning process, after defining objectives, developing premises about future conditions, and deciding on the planning period, is making a plan. This involves formulating strategies, policies, programs, procedures, schedules, and budgets to achieve the set objectives.

Question 16

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

Accepted Answer

Short-range plans are designed to cover a year or less, making them the best option among the given choices. "Medium" plans typically cover 2-5 years, "strategic" plans usually cover longer time periods and are focused on achieving overall organizational goals, while "long-term" plans refer to plans that cover more than five years.

Question 17

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

Accepted Answer

The four functions of management are planning, organizing, leading, and controlling. Recruiting is not considered one of these functions.

Question 18

Planning includes:

Accepted Answer

Planning primarily involves setting goals and objectives to guide the direction of efforts and decision-making. Allocating resources, guiding human efforts, and monitoring tasks are more closely associated with organizing, leading, and controlling functions of management, respectively.

Question 19

The first step in the planning process involves:

Accepted Answer

Defining your objectives and knowing where you want to go is the essential first step in the planning process. Without clear objectives, it is difficult to make progress towards achieving your goals. Options A, B, and C can be helpful in certain contexts, but they do not represent the essential first step in planning.

Question 20

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

Accepted Answer

Organizing involves distributing resources and arranging tasks in a structured manner to achieve objectives.

Quiz 4: Environment, Innovation, and Sustainability

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