chapter 8

Question 1

the process of setting objectives and determining how to best accomplish them

Answer 1

planning

Question 2

identifying the specific results or desired outcomes that one intends to acheive

Answer 2

organizing

Question 3

A statement of action steps to be taken in order to accomplish the objectives

Answer 3

plan

Question 4

what are the steps in the planning process

Answer 4

1. defining your objectives
2. determining where you stand vis a vis objectives
3. develop premises regarding future conditions
4. analyze and choose among action alternatives
5. implement and evaluate the results

Question 5

what are the benefits of planning

Answer 5

• flexibility and focus
• action orientation
• coordination
• time management
• control

Question 6

what are the range of short intermediate and long plans

Answer 6

short 1yr or less
intermediate 2-3 yrs
long term 3+

Question 7

set broad comprehensive and longer term action directions for the entire organization

Answer 7

strategic plans

Question 8

define what needs to be done in specific areas to implement strategies

Answer 8

operational plans

Question 9

types of operational plans

Answer 9

production
financial 
facilities
marketing plans
HR plans

Question 10

policies or procedures designed for repeated use

Answer 10

standing plans

Question 11

broad guidelines for making decisions and taking action in specific circumstances

Answer 11

policy

Question 12

plans that describe exactly what steps are to be taken in specific circumstances

Answer 12

rules or procedures

Question 13

only used once to meet the needs and objectives of a well defined situation in a timely manner

Answer 13

single use plans

Question 14

single use plans that commit resources to activities projects or programs fixed flexible and zero based budget

Answer 14

budgets

Question 15

one time activities that have clear beginning and end points project management and project schedules

Answer 15

projects

Question 16

making assumptions about what will happen in the future

Answer 16

forecasting

Question 17

identifying alternative courses of action that can be implemented to meet the needs of changing circumstances anticipate changing conditions

Answer 17

contingency planning

Question 18

a long term version of contingency planning

Answer 18

scenario planning

Question 19

the use of external comparisons to better evaluate current performance and identify possible actions for the future

Answer 19

benchmarking

Question 20

coordinating the planning function for the total organization or one of its major components

Answer 20

use of staff planners

Question 21

participatory planning requires that the planning process includes people who will be affected by plans or who help implement them

Answer 21

participation and involvement

Question 22

the process of measuring performance and taking action to ensure desired results

Answer 22

controlling

Question 23

what are the steps in the control process

Answer 23

step 1-establish objectives and standards
step 2-measure actual performance
step 3-compare results w objectives and standards
step 4-take corrective action as needed

Question 24

a structured process of regular communication

Answer 24

management by objectives

Question 25

steps in MBO

Answer 25

defining organizational objectives defining employees objectives continious commucation evaluation and feedback

Question 26

the act of influencing behavior through reprimand

Answer 26

discipline

Question 27

ties reprimands to the frequency and severity of the employees infractions

Answer 27

progressive discipline

Question 28

determination of the point at which sales revenues are sufficient to cover costs

Answer 28

break even analysis

Question 29

goal is to ensure that the inventory is just the right size to meet performance needs thus minimizing the cost

Answer 29

inventory control

Question 30

quality control involves checking processes materials products and services to ensure that they meet high standards

Answer 30

statistical quality control