Management Chapter 7
What is the third step of the MBO process?
Monitoring Progress
According to C.W. Roney, which purpose of planning is to increase the degree of organizational success?
affirmative
Juan is a CEO who has created a new plan for his organization that is targeted to be achieved in 3 years. This timeline makes it what kind of objective?
intermediate term objective
A rule is an example of a(n) __________.
standing plan
__________ is essentially a bar graph with time on the horizontal axis and the resource to be scheduled on the vertical axis.
A Gantt chart
Which term refers to the process of predicting the likelihood of uncertain events or outcomes that will influence the operation of the organization?
Forecasting
_________ refers to the process of predicting future environmental happenings that will influence the operation of the organization.
Forecasting
Which of the following is the final step in the MBO process?
Give rewards
Sarah is planning a department expansion and is meeting with her staff to discuss the most effective ways to handle the change. This is an example of which step in the planning process?
Listing alternative ways of reaching objectives
Which of the following is the second step in the planning process?
Listing alternative ways of reaching objectives
__________ are targets to be achieved in five to seven years.
Long term objectives
Julie is the manager of Terrance and they have engaged in the Management by Objectives process. Julie is currently checking on Terrance's work and how well he is reaching his objective. This corresponds to what step in the MBO Process?
Monitoring Progress
Which term refers to a target toward which an open management system is directed?
Organizational objective
Which term describes what an organization exists to do, given a particular group of customers and customer needs?
Organizational purpose
Which of the following sales forecasting methods is more formal than the jury of executive opinion method, and gathers, evaluates, and summarizes expert opinions as the basis for a forecast?
The Delphi method
Which of the following is a characteristic of most MBO programs?
The MBO process secures employee commitment to attaining organizational goals.
T/F:Planning eliminates risk.
false
Stating organizational objectives is the __________ step in the planning process
first
The moving average method of sales forecasting utilizes __________.
historical data to predict future sales levels
The _____________ method involves specific managers in an organization gathering to discuss their opinions on what will happen to sales in the future.
jury of executive objective
The jury of executive opinion method of sales forecasting is when __________.
managers within the organization assemble to discuss their opinions on what will happen to sales in the future
The function that precedes and forms the basis for other management functions is ________.
planning
The process of determining how an organization can get where it wants to go, and what it will do to accomplish its objectives is known as _________.
planning
A plan that outlines a series of related actions that must be taken to accomplish a particular task is called a ________.
procedure
Roberta has created a plan to create a new office space for her organization. This is the planning type of ________.
program
Which term describes a single-use plan designed to carry out a special project within an organization?
program
Alex is engaging in planning for his company so that the company has less risk and uncertainty. Which organizational planning purpose type does this fit?
protective
Which of the following is the final step in the planning process?
putting plans into action
The __________ method of sales forecasting predicts future sales by analyzing the historical relationship between sales and time.
regression
A standing plan that indicates what an organizational member should or should not do and allows no room for interpretation is known as a(n) ________.
rule
A ________ is a plan that designates specific required action.
rule
A sales forecasting technique that predicts future sales by analyzing the opinions of salespeople as a group is known as the _________________.
salesforce estimation method
The __________ is a qualitative sales forecasting technique that predicts future sales by analyzing the opinions of salespeople as a group.
salesforce estimation method
Cellular Solutions is a company that sells smart phones to consumers. The smart phone as a product is in a market where most people who want the product have it and people only buy a new one due to their old one wearing out. In the product life cycle, the stage that best fits this situation is ________.
saturation
Intermediate-term objectives are __________.
targets to be achieved in one to five years
Short-term objectives are __________.
targets to be achieved in one year or less
Which of the following is NOT one of the key areas in which Drucker advised managers to set management system objectives?
tradition
Of the following, which is NOT a step in the MBO process?
Eliminate worker objectives
Which of the following is the first step in the planning process?
Stating organizational objectives
In which step in designing a PERT network does the manager identify the critical path?
Step 4
Managers can use specific guidelines to increase the quality of their objectives. One of the guidelines is to state objectives as specifically as possible. Why might this be important?
When objectives are too general, the productivity of individuals attempting to reach those objectives tends to fluctuate significantly over time.
