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Exam 5: Planning: The Foundation of Successful Management

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Question 51

Multiple Choice

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The planning/control cycle has two planning steps: _____.

A) research planning, then receive feedback
B) make the plan, then set it aside for a period of time
C) make the plan, then carry out the plan
D) review previous plans, then evaluate plans
E) research planning, then look for ways to cut costs

F) A) and B)
G) B) and D)

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Question 52

Multiple Choice

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With increasing competition in the restaurant business, Sal, owner of Mom's Pizza, is dealing with growing uncertainty. He is meeting with his managers to develop a future course of action to meet company goals. This process is known as _____.

A) planning
B) leading
C) controlling
D) defining
E) diversifying

F) None of the above
G) A) and D)

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Question 53

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The profits of ABC Grocery have dropped significantly over the last several months. After investigating, the owner realizes that the store is moving in the wrong direction in many departments, so there needs to be greater focus by management. This is an example of how an organization can progress in the wrong direction with ____.

The process for motivating employee performance in which the manager and employee jointly set objectives for the employee, the manager develops action plans, the manager and employee periodically review the employee's performance, and the manager makes a performance appraisal and rewards the employee according to results is known as ____.

Summarize management by objectives. Describe the three types of objectives used in MBO and give examples of each type.

The need the firm will fill, the operations of the business, its components and functions, as well as the expected revenues and expenses is expressed in the organization's ____.

Mr. Smith, CEO of an auto dealership, has been working on the two planning steps of the planning/control cycle with his managers. To do this, Mr. Smith and his managers need to make their plan and then carry out the plan.

Paula is the store manager for a national grocery retailer, and she received the yearly tactical plan from Greg, her district manager. Paula is meeting with her department managers to plan how to implement the specific tasks outlined in Greg's plan for the next year. This type of planning by Paula is operational planning.

Setting target dates or deadline dates for when goals are to be attained is not always needed.

Upper-level managers prepare the action plans for attaining objectives for all levels of management.

The HR Department of French Quarter Seafood did a training workshop on setting and achieving organization goals. Alex, the store manager of the New Orleans location, has been working with his managers to set objectives that are specific, measurable, attainable, results-oriented, and have target dates. These types of goals define ____.

In a management meeting, Paula, the CEO of ABC Industries, mentioned that deadlines are a great motivator. She believes this because the entire purpose of making a plan and setting goals is to deliver to a customer specified results within a specified period of time. Therefore, Paula can claim that deadlines are a great motivator.

The primary reason for an organization to adopt planning and strategic management is to _____.

MBO works by the upper movement of goals through the organization; that is, top managers set general organizational objectives based on what individual employees and then departments voice as their objectives.

Alison, the vice president of marketing for a global company, is planning what contributions she and her department will make to the organization over the next 24 months. This type of planning is operational planning.

Discuss how every organization has a mission and a vision, and how a company's approach to planning and its mission becomes translated into action plans.

Strategic goals concentrate on objectives for handling competition and the competitive environment.

Don, a CEO, has decided to utilize MBO in his retail outlets across the Midwest. He made this decision because of its emphasis on converting general objectives into broad ones for the upper management of an organization.

A business plan is a management tool that contains a list of the competition, along with the competitors' product strengths and prices.

Planning done by first-line managers to determine how to accomplish specific tasks with available resources within the next 1 to 52 weeks is known as _____.