Question 1

Most businesses have only the single goal of making profits.

Accepted Answer

A) True 
 B)False

Question 2

When uncertainty is high and managers must be flexible in order to respond to unexpected changes, directional plans are preferable.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following statements is true regarding an organization's goals?

Accepted Answer

A)   All organizations share the single goal of making profits.
B)   A single goal is more efficient than multiple goals for defining an organization's success.
C)   Using a single goal such as profit may result in unethical behaviors by employees.
D)   Long-term success is ensured if managers emphasize only one goal for an organization.E) A) and D)
F) A) and C)

Question 4

________ plans apply to the entire organization and establish the organization's overall goals.

Accepted Answer

A)   Departmental
B)   Strategic
C)   Operational
D)   SpecificE) None of the above
F) All of the above

Question 5

What is competitor intelligence? Identify some of the sources of competitor intelligence? Discuss the legal and ethical issues related to this concept.

Accepted Answer

Competitor intelligence involves gatheri...

Question 6

Planning provides direction to managers and nonmanagers alike.

Accepted Answer

A) True 
 B)False

Question 7

Absence of planning does not inhibit the ability of departments and individuals to work together or organizations to move.

Accepted Answer

A) True 
 B)False

Question 8

Considering the characteristics of well-written goals, which of the following would be a well-written goal for the above scenario?

Accepted Answer

A)   To minimize costs, maximize profits, and maximize return on investment.
B)   To accelerate our growth to the maximum possible level over the next three years.
C)   To achieve a 25 percent growth in revenue, which is defined as the number of items sold multiplied by their price.
D)   To invoice merchandise worth $ 200,000, every month, for the next three years.E) B) and C)
F) None of the above

Question 9

The first step in goal setting is to evaluate available resources.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is the last step in goal setting?

Accepted Answer

A)   review the organization's mission or purpose
B)   determine the goals individually or with input from others
C)   write down the goals and communicate them to all who need to know
D)   review results and whether goals are being metE) A) and B)
F) C) and D)

Question 11

Organizational plans can be classified on the basis of all of the following characteristics, except on the basis of their ________.

Accepted Answer

A)   breadth
B)   attainability
C)   specificity
D)   frequency of useE) C) and D)
F) All of the above

Question 12

Long-term plans are defined as those with a time frame beyond ________.

Accepted Answer

A)   seven years
B)   one year
C)   five years
D)   three yearsE) None of the above
F) A) and B)

Question 13

In traditional goal setting, goals set by top managers flow down through the organization and become subgoals for each organizational area.

Accepted Answer

A) True 
 B)False

Question 14

Top executives are mainly involved in ________ planning.

Accepted Answer

A)   functional
B)   operational
C)   strategic
D)   departmentalE) C) and D)
F) B) and D)

Question 15

In a short essay, describe how managers can effectively plan when the external environment is continually changing.

Accepted Answer

In an uncertain environment, managers wa...

Question 16

Operational plans are usually ________.

Accepted Answer

A)   short term, directional, and standing
B)   short term, specific, and standing
C)   long term, directional, and single use
D)   long term, specific, and standingE) B) and C)
F) A) and D)

Question 17

________ involves the theft of proprietary materials or trade secrets by any means.

Accepted Answer

A)   Corporate espionage
B)   Business intelligence
C)   Data mining
D)   Data aggregationE) B) and C)
F) B) and D)

Question 18

Plans that encompass only the production or the sales goals of a company are termed ________ plans.

Accepted Answer

A)   operational
B)   strategic
C)   informal
D)   financialE) B) and D)
F) A) and B)

Question 19

________ planning dominates managers' planning efforts at lower levels of the organization.

Accepted Answer

A)   Strategic
B)   Organization-wide
C)   Operational
D)   DirectionalE) C) and D)
F) All of the above

Question 20

Which of the following is the last step in MBO?

Accepted Answer

A)   Progress toward objectives is periodically reviewed, and feedback is provided.
B)   The organization's overall objectives and strategies are formulated.
C)   Successful achievement of objectives is reinforced by performance-based rewards.
D)   Action plans are implemented.E) A) and B)
F) A) and C)

Exam 8: Foundations of Planning

________ planning dominates managers' planning efforts at lower levels of the organization.

Correct AnswerverifiedShow Answer

________ plans apply to the entire organization and establish the organization's overall goals.

Correct AnswerverifiedShow Answer

Considering the characteristics of well-written goals, which of the following would be a well-written goal for the above scenario?

Correct AnswerverifiedShow Answer

Planning provides direction to managers and nonmanagers alike.

Correct AnswerverifiedShow Answer

When uncertainty is high and managers must be flexible in order to respond to unexpected changes, directional plans are preferable.

Correct AnswerverifiedShow Answer

Organizational plans can be classified on the basis of all of the following characteristics, except on the basis of their ________.

Correct AnswerverifiedShow Answer

Top executives are mainly involved in ________ planning.

Correct AnswerverifiedShow Answer

Operational plans are usually ________.

Correct AnswerverifiedShow Answer

In a short essay, describe how managers can effectively plan when the external environment is continually changing.

Correct AnswerverifiedIn an uncertain environment, managers wa...View AnswerShow Answer

Which of the following is the last step in MBO?

Correct AnswerverifiedShow Answer

Long-term plans are defined as those with a time frame beyond ________.

Correct AnswerverifiedShow Answer

Absence of planning does not inhibit the ability of departments and individuals to work together or organizations to move.

Correct AnswerverifiedShow Answer

Plans that encompass only the production or the sales goals of a company are termed ________ plans.

Correct AnswerverifiedShow Answer

Most businesses have only the single goal of making profits.

Correct AnswerverifiedShow Answer

The first step in goal setting is to evaluate available resources.

Correct AnswerverifiedShow Answer

________ involves the theft of proprietary materials or trade secrets by any means.

Correct AnswerverifiedShow Answer

Which of the following statements is true regarding an organization's goals?

Correct AnswerverifiedShow Answer

In traditional goal setting, goals set by top managers flow down through the organization and become subgoals for each organizational area.

Correct AnswerverifiedShow Answer

Which of the following is the last step in goal setting?

Correct AnswerverifiedShow Answer

What is competitor intelligence? Identify some of the sources of competitor intelligence? Discuss the legal and ethical issues related to this concept.

Correct AnswerverifiedCompetitor intelligence involves gatheri...View AnswerShow Answer

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In an uncertain environment, managers wa...
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Competitor intelligence involves gatheri...
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