Planning

Why is a tactical plan relevant for the functioning of each company?

• It focuses on the day-to-day operations of a company.

• It designs the long-term goals and plans of a company.

• Because it is responsible for developing the mission and the vision of each department.

• Because it deals with the responsibility and functionality of lower-level departments.

1. A procedure that details how to take an inventory is an example of a(n) _____ plan, while a promotional advertisement is an example of a(n) _____ plan.

• strategic, tactical

• tactical, operational

• single-use, ongoing

• ongoing, single-use

• operational, single-use

Managers use operational plans to _____.

• regulate the day-to-day affairs of each department.

• regulate production quotas that must be met each quarter.

• determine the company's long-term goals.

• specify what to do in case the original plan fails.

Which of the following is incorrect?

• planning is the part of the management process that attempts to define the organization's future.

• the approach to planning can differ greatly from manager to manager.

• planning is a one time event.

• planning is thinking out in advance the sequence of actions to accomplish a proposed course of action.

A system in which responsibility for planning lies with the highest level is called:

• centralized planning.

• decentralized planning.

• strategic planning.

• flexible planning.

Which of the following is not a benefit of planning?

• coordination of effort.

• preparation for change.

• development of standards.

• none of the above (all are benefits).

The first step in defining the competencies required for each job is to define the mission for each job. The next step is to

• define performance standards for each major outcome.

• design and deliver appropriate training.

• describe the major outcomes required to achieve the mission.

• identify known barriers to achieving the performance standards.

Comprehensive, long range planning, focusing on broad enduring issues is called:

• operational planning.

• strategic planning.

• niche planning.

• none of the above.

The first step in the planning process is to:

• determine goals and objectives.

• allocate resources.

• establish an action plan.

• assess current conditions.

Canada Trust's statement "To be the best Personal Financial Company" is an example of a:

• goal.

• objective.

• mission statement.

• all of the above.