Chapter 5 Planning And Decision Making

After earning a profit of $10 billion, Tekmake decides to double its profits within the next five years. It lays out broad goals and develops a market penetration strategy to accomplish its goals. In this case, the process by which Tekmake is going to achieve this goal is called _____.

Alpha Inc. wants to expand its customer base. The chief executive officer (CEO) sets a target for all its sales units to increase sales by 50 percent by the next fiscal year. The CEO also lays out a scheme for the company to produce a new product within the next two years. In this case, which of the following functions of business management is the CEO most likely doing?

Which of the following statements is true about planning?

Which of the following is a pitfall of planning?

Identify a true statement about plans.

The first step in designing a plan that works is to:

Identify a true statement about the planning process.

Martha is a manager at Healier Life Inc. She drafts a list of specific goals that she wants her company to achieve by the end of the year. In the context of planning, the next step that Martha should take is to:

Which of the following is a commonly used technique for increasing goal commitment?

In the planning process, after developing goal commitment, a manager must:

In the planning process, a(n) _____ lists the specific steps, people, resources, and time period for accomplishing a goal.

In the context of the planning process, _____ are primary goals.

Karen, the sales manager of an appliance store, informs Jonah, one of her salespeople, that she expects him to sell $50,000 worth of merchandise by the end of the quarter. Every week, Jonah provides Karen with a report on his progress. In this scenario, Karen is using _____ to track Jonah's progress.

Plushvier Inc. plans to launch its product in five regional markets. In order to maximize profit and reduce loss, initially, the company makes small investments in all five markets. The investments made are small so that if a particular market fails to perform, then the company can discontinue its investment in that market and invest in markets that produce good returns. In this case, Plushvier Inc. is using _____.

Top management is responsible for developing _____ that make clear how a company will serve customers and position itself against competitors in the next two to five years.

Strategic planning begins with the creation of a _____.

Which of the following statements is true about an organization's purpose statement?

Which of the following statements is true about the strategic objective of an organization?

Identify an accurate feature of the strategic objective of an organization.

Plans that are used to direct behavior, efforts, and attention over the next six months to two years are known as _____.

Diego is a manager in a company that manufactures electronic gadgets. He creates a plan to develop cost-effective production technologies over the next one year. The plan also specifies how the company can effectively utilize its people and resources from different departments, and how the budgets can be streamlined to accomplish the objective. His plan is consistent with that of the company's overall objective of increasing its production by 100 percent in the next five years. Diego is most likely developing a(n) _____.

_____ are the day-to-day plans for producing or delivering an organization's products and services.

Taufuer Motors, a car manufacturer, has a detailed seven-step plan in place for dealing with defects in its cars. It believes that the plan can be used as long as the defects are completely rectified. This is an example of a _____.

Margo works at Parker's Coffees. She is always the last person to leave the shop. Before closing the shop each evening, she follows these instructions: pour out all the leftover coffee, turn off and unplug all the coffeemakers, wash and dry all the coffee pots, wipe the counters, turn the store lights off, and lock the door. The instructions constitute a(n) _____.

_____ is a type of quantitative planning through which managers decide how to allocate available money to best accomplish company goals.

_____ are the standing plans that indicate the general course of action that should be taken in response to a particular event or situation.

Jonathan is a manager at a departmental store. In recent weeks, the sale of goods in his store has decreased considerably. He does not know the reason behind this decline. As per the decision-making process, the next step that Jonathan must take is to:

_____ is a process of weighing decision criteria in which each criterion is compared with a standard or ranked on its own merits.

____ is a process of weighing decision criteria in which each criterion is compared with every other criterion.

In the decision-making process, which of the following best defines the term maximizing?

____ refers to choosing a "good-enough" alternative when making a decision.

Groupthink is most likely to occur when:

In the context of conflicts, c-type conflict is a disagreement that focuses on _____.

____ is a decision-making method that creates c-type conflict by forcing decision makers state the assumptions of a proposed solution and generate a solution that is the opposite of that solution.

_____ is a group decision-making method that begins and ends by having group members quietly write down and evaluate ideas to be shared with the group.

Identify a true statement about the nominal group technique.

Identify a true statement about the Delphi technique.

Supernova Inc. attempts to resolve a major technical issue in its database. To identify the best way to resolve the issue, the company assembles technical experts with different skill sets. The problem was explained to each of the experts and their individual opinions were collected, and a questionnaire based on the problem was given to each of them. The answers of all the experts were analyzed and then sent back to the experts for their final opinions. Identify the strategy that is being used by Supernova to generate solutions.

In the decision-making process, one of the rules of brainstorming is that:

Identify a true statement about electronic brainstorming.