Question 1

Operational plans include single-use plans like budgets that apply to one specific task or time period.

Accepted Answer

Operational plans can include single-use plans like budgets that apply to a specific task or time period.

Question 2

The management process involves planning,organizing,leading,and controlling the use of resources to achieve performance objectives.

Accepted Answer

The management process includes planning, organizing, leading, and controlling resources to achieve performance objectives.

Question 3

Strategic plans ideally set forth the goals and objectives needed to accomplish the organization's vision in terms of mission or purpose and what it hopes to be in the future.

Accepted Answer

Strategic plans do indeed aim to establish the objectives and goals necessary to realize the organization's vision, which can be defined as its mission or purpose and its aspirations for the future.

Question 4

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

Accepted Answer

Leading involves providing direction, guidance, and motivation to individuals to achieve their goals and objectives, thereby accomplishing the tasks assigned to them.

Question 5

Budgets are standing plans that are used over and over again.

Accepted Answer

Budgets are single-use plans that are developed for a specific period, typically a year, and are not intended to be used repeatedly over different periods.

Question 6

Plans alone don't deliver results; implemented plans do.

Accepted Answer

Simply having a plan does not guarantee success. It is the execution and implementation of the plan that ultimately leads to results.

Question 7

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

Accepted Answer

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

Question 8

Without planning,control lacks objectives and standards for measuring how well things are going and what could be done to make them go better.

Accepted Answer

Planning sets objectives and standards that help in measuring the progress and effectiveness of control activities. Without planning, control lacks direction and the ability to monitor and improve performance.

Question 9

In business,tactical plans often take the form of operational plans that indicate how different components of the enterprise will contribute to the overall strategy.

Accepted Answer

The answer of In business,tactical plans often take the form...

Question 10

Policies set expectations for many aspects of employee behavior.

Accepted Answer

Policies are established to guide and regulate employee behavior in the workplace and set expectations for various aspects such as attendance, dress code, workplace conduct, safety, and compliance with laws and regulations.

Question 11

As the time frames of planning are shrinking nowadays,top management is no longer responsible for setting longer-term plans and directions for the organization as a whole.

Accepted Answer

Top management is still responsible for setting the longer-term plans and strategic direction of the organization, even though the planning time frames may be shrinking due to rapid changes in the business environment.

Question 12

Stretch goals are performance targets that we have to work extra hard to reach.

Accepted Answer

Stretch goals by definition require additional effort and aim to go beyond what is expected or easily achievable.

Question 13

Procedures set broad guidelines for decisions.

Accepted Answer

The answer of Procedures set broad guidelines for decisions....

Question 14

For effective time management,one must become calendar-bound by letting others control one's schedule.

Accepted Answer

Effective time management involves taking control of one's own schedule and prioritizing tasks, rather than letting others dictate how one's time is spent. Being calendar-bound can actually lead to inefficiency and greater stress, as one may become overwhelmed by a schedule that is not truly aligned with their goals and responsibilities.

Question 15

An organization with flexibility operates with an orientation toward the past rather than the future.

Accepted Answer

An organization with flexibility operates with an orientation towards the future, adapting to change and anticipating new trends and demands rather than being confined by past methods and approaches.

Question 16

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

Accepted Answer

Controlling is not the process of setting objectives, it is the process of monitoring progress towards achieving objectives and making necessary adjustments. Planning is the process of setting objectives and determining how to accomplish them.

Question 17

Planning helps us avoid simply being carried along by the flow of events,and focuses our attention on priorities.

Accepted Answer

Planning helps us to be proactive and intentional in our actions, rather than reactive and passive. By setting priorities and taking deliberate steps towards our goals, we are more likely to achieve success and avoid getting swept up in the chaos of everyday life.

Question 18

To be "over budget" is generally considered bad for a company or an individual; to come in "under budget" is generally good.

Accepted Answer

This statement is generally true as it implies that staying within or under budget is a sign of financial prudence and discipline, while going over budget indicates poor planning or overspending. However, there may be exceptions where going over budget is necessary to achieve certain goals or investments.

Question 19

Strategic plans are focused only on a specific department of an organization.

Accepted Answer

Strategic plans are focused on the overall goals and objectives of an entire organization, not just a specific department.

Question 20

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.

Quiz 8: Planning Processes and Techniques