GENBA 110 - Exam #2

The definition of _________ ____________ states: the process of preparing alternative courses of action the firm can use if its primary plans don't work out.

Contingency Planning

The definition of _________ ____________ states: choosing between two or more alternatives.

Decision Making

The acronym for the newer version of MRP (materials requirement planning) is....

ERP

The definition of _________ ____________ states: the process of setting work standards and schedules necessary to implement the company's tactical objectives.

Operational Planning

What is the abbreviation for the problem solving process that lists all of the pluses for a solution in one column, all the minuses in another, and the implication in the third?

PMI

__________ is a persuasive form of communication that informs people and motivates them to buy products and services.

Promotion

The definition of _________ ____________ states: the process of developing detailed, short-term statements about what is to be done, who is to do it, and how.

Tactical Planning

The investigation of consumer thought processes at each stage in a purchase in order to determine the best way to help the buyer is called:

consumer behavior

Problem soling differs from decision making because problem solving...

is less formal and usually requires faster actions

__________ layout refers to teams of workers combine to produce more complex units of the final product.

modular

True or False: Intermediaries are the middle links in a series of organizations that distribute goods from producers to consumers.

True

A ______ gives the organization a sense of purpose and a set of values that unite workers in a common destiny.

Vision

Manufacturers today share a great deal of info with ______________, and therefore, rely heavily of building a few select relationships.

suppliers

The marketing concept has 3 parts...

1. Customer Orientation 2. Service Orientation 3. Profit Orientation

Rank the 5 steps of the control process in order:

1. Establish clear performance standards 2. Monitoring and recording actual performance or results 3. Comparing results against plans and standards 4. Communicating results and deviations to appropriate employees 5. Taking corrective actions when needing and providing positive feedback