Question 1

A flexible budget allocates resources as if each budget were brand new.

Accepted Answer

A flexible budget adjusts to changes in actual revenue or production levels, rather than starting from scratch for each new budgeting period.

Question 2

Scenario planning is a short-term version of contingency planning.

Accepted Answer

Scenario planning is a long-term strategic planning tool aimed at identifying and analyzing possible future events and their potential impact on an organization. Contingency planning, on the other hand, is a reactive approach to dealing with unexpected events and mitigating their consequences.

Question 3

If staff planners are used, people may often lack commitment to implement the plans no matter how good they are.

Accepted Answer

Staff planners may create plans that employees are not fully invested in or do not feel ownership over, therefore they may lack commitment to implementing the plan.

Question 4

Strategic goals set by top management cascade down the organization step by step to become quality management objectives for lower levels.

Accepted Answer

This is the basic principle of the Hoshin Kanri method, which is a popular strategy deployment tool in quality management. It is also known as catchball or policy deployment, where the top-down flow of goals and objectives is balanced with a bottom-up communication loop to ensure alignment and collaboration across the organization.

Question 5

Internal benchmarking encourages members and work units to learn from competitors and non-competitors alike.

Accepted Answer

Internal benchmarking involves comparing practices and performance metrics within the same organization, not with external competitors or non-competitors.

Question 6

Which of the following management functions deals with the allocation and arrangement of resources to accomplish tasks?
A) Planning
B) Leading
C) Organizing
D) Controlling
E) Directing

Accepted Answer

The management function that deals with the allocation and arrangement of resources to accomplish tasks is organizing. Planning involves setting objectives and determining the actions necessary to accomplish them. Leading involves motivating and guiding employees. Controlling involves monitoring performance and taking corrective action when necessary. Directing involves communicating with and supervising employees.

Question 7

Operating budgets allocate resources like labor, equipment, and space.

Accepted Answer

The answer of Operating budgets allocate resources like labor, equipment,...

Question 8

In which step of the planning process would one know where one is placed in reaching the goals, and what strengths work in one's favor and what weaknesses may hold one back?
A) Implementing the plan and evaluating results
B) Defining the objectives
C) Developing premises regarding future conditions
D) Analyzing alternatives and making a plan
E) Determining where one stands vis-à-vis objectives

Accepted Answer

Determining where one stands vis-à-vis objectives is the step where one assesses their current position in relation to the desired goals and identifies strengths and weaknesses. This step helps in making necessary adjustments in the plan to ensure its success.

Question 9

Contingency planning identifies alternative courses of action to take when things go wrong.

Accepted Answer

Contingency planning is the process of preparing for potential emergencies, disruptive events, or unforeseen circumstances by identifying alternative courses of action.

Question 10

Great goals include a challenging stretch factor while still being realistic and possible to achieve.

Accepted Answer

Great goals should push us beyond our comfort zone but should still be achievable if we put in effort and dedication.

Question 11

_____ is the process of setting objectives and determining how to accomplish them.
A) Directing
B) Controlling
C) Leading
D) Organizing
E) Planning

Accepted Answer

Planning is the process of setting objectives and determining how to accomplish them. Directing, controlling, leading, and organizing are all important functions of management, but they are not specifically focused on the initial process of determining objectives and strategies.

Question 12

_____ is a management function that guides the efforts of human resources to ensure high levels of task accomplishment.
A) Leading
B) Directing
C) Resourcing
D) Organizing
E) Processing

Accepted Answer

Leading is the management function that involves guiding and motivating employees to achieve organizational goals.

Question 13

Yoonsuh, the chief technology officer at Namkoong Appliances, is in the process of identifying the results she wants her company to achieve next year. She knows where she wants her company to reach and also has an idea of how far off the desired mark the company will be along the way. She is most likely in the process of:
A) developing premises regarding future conditions.
B) defining her company's objectives.
C) analyzing her company's alternatives and making a plan.
D) implementing the plan and evaluating the results.
E) determining where her company stands vis-à-vis objectives.

Accepted Answer

Yoonsuh is in the process of defining her company's objectives for the next year. She knows where she wants the company to go and is likely to be setting specific goals and targets to achieve this.

Question 14

Qualitative forecasting uses expert opinions to predict the future.

Accepted Answer

Qualitative forecasting involves gathering opinions and insights from experts, stakeholders, and customers to make predictions about the future. This method relies on subjective judgments and is often used when historical data is unavailable or insufficient.

Question 15

Which of the following is the first step in the planning process?
A) Analyzing alternatives and making a plan
B) Defining the objectives
C) Implementing the plan and evaluating results
D) Determining where one stands vis-à-vis objectives
E) Developing premises regarding future conditions

Accepted Answer

The first step in the planning process is to clearly define the objectives or goals to be achieved. Only after the objectives are defined can the rest of the planning process proceed.

Question 16

Participatory planning includes in all planning steps the people who will be asked to help implement them and not the ones affected by the plans.

Accepted Answer

Participatory planning involves both the people who will help implement the plans and those who will be affected by them, ensuring their input and feedback are considered throughout the planning process.

Question 17

Even though participatory planning takes more time, it can improve results by improving implementation.

Accepted Answer

Participatory planning involves actively involving stakeholders in the planning process, which can lead to a better understanding of the project, improved communication, and increased ownership and commitment to the project. This can ultimately result in better implementation and outcomes, even though it may require more time to involve all relevant parties in the planning process.

Question 18

The purpose of benchmarking is to find out what other people and organizations are doing very well, and then plan how to incorporate these ideas into one's own operations.

Accepted Answer

The purpose of benchmarking is indeed to learn from and adopt best practices from other organizations.

Question 19

Abasi, the supervisor at KNYA Inc., is in the process of setting certain specific goals for his team, and is deciding how his team can reach those goals. In this scenario, Abasi is involved in the process of _____.
A) planning
B) leading
C) organizing
D) controlling
E) directing

Accepted Answer

Abasi is engaged in the process of planning, which involves setting goals and determining how to achieve them. Leading involves motivating and guiding team members, organizing involves designing roles and responsibilities, controlling involves monitoring progress and making adjustments, and directing involves overseeing the day-to-day activities of the team.

Question 20

Which of the following management functions deals with monitoring task accomplishments and taking necessary corrective action?
A) Coordinating
B) Processing
C) Controlling
D) Leading
E) Directing

Accepted Answer

Controlling is the management function that deals with monitoring task accomplishments and taking necessary corrective action. It involves establishing performance standards, comparing actual performance against those standards, identifying deviations from performance standards, and taking corrective action when necessary. Coordinating, processing, leading, and directing are all important management functions, but they do not specifically deal with monitoring and correcting task accomplishments.

Quiz 8: Planning Processes and Techniques

A flexible budget allocates resources as if each budget were brand new.

Scenario planning is a short-term version of contingency planning.

If staff planners are used, people may often lack commitment to implement the plans no matter how good they are.

Strategic goals set by top management cascade down the organization step by step to become quality management objectives for lower levels.

Internal benchmarking encourages members and work units to learn from competitors and non-competitors alike.

Which of the following management functions deals with the allocation and arrangement of resources to accomplish tasks?

Operating budgets allocate resources like labor, equipment, and space.

In which step of the planning process would one know where one is placed in reaching the goals, and what strengths work in one's favor and what weaknesses may hold one back?

Contingency planning identifies alternative courses of action to take when things go wrong.

Great goals include a challenging stretch factor while still being realistic and possible to achieve.

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

_____ is a management function that guides the efforts of human resources to ensure high levels of task accomplishment.

Qualitative forecasting uses expert opinions to predict the future.

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

Participatory planning includes in all planning steps the people who will be asked to help implement them and not the ones affected by the plans.

Even though participatory planning takes more time, it can improve results by improving implementation.

The purpose of benchmarking is to find out what other people and organizations are doing very well, and then plan how to incorporate these ideas into one's own operations.

Abasi, the supervisor at KNYA Inc., is in the process of setting certain specific goals for his team, and is deciding how his team can reach those goals. In this scenario, Abasi is involved in the process of _____.

Which of the following management functions deals with monitoring task accomplishments and taking necessary corrective action?