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Question 1

Forecasting

Answer 1

a planning tool used to predict future environmental events that will influence the operation of the organization

Question 2

The PERT

Answer 2

Program evaluation and review technique is a scheduling tool that is essentially a network of project activities showing estimates of time necessary to complete each activity and the sequence of activities that must be followed to complete the project.

Question 3

Regression Method

Answer 3

predicts future sales by analyzing the historical relationship between sales and time.

Question 4

Salesforce Estimation Method

Answer 4

predicts future sales levels primarily by asking appropriate salespeople for their opinions of what will happen to sales in the future.

Question 5

Organizational Purpose

Answer 5

is what the organization exists to do, given a particular group of customers and customer needs.

Question 6

Moving Average Method

Answer 6

utilizes historical data to predict future sales levels

Question 7

Standing Plan

Answer 7

are plans that are used over and over because they focus on organizational situations that occur repeatedly.

Question 8

Product Stages Method

Answer 8

predicts future sales by using the product life cycle to better understand the history and future of a product.

Question 9

Policy

Answer 9

is a standing plan that furnishes broad guidelines for taking action consistent with reaching organizational objectives.

Question 10

Planning Tools

Answer 10

are techniques managers can use to help develop plans.