MGT60104

Archie carefully planned his budget for graduate school because he would need to borrow the money. Tuition was $30,000, and he would need living expenses for 16 months in Orlando, Florida. This was:

• Repeated use plan

• Single-use plan

• Standing plan

Answer explanation

After he graduates, Archie will not use this plan again.

Which TWO of the following are examples of a standing plan?

• Launching a New Product Marketing Campaign
  

• Safety Policy

• Annual Budget Allocation for Departments

• Work Schedule

• Strategy

The aircraft industry and the tech world have very different ideas of long-term plans. An aircraft can take 10 to 20 years to plan, build, and commercialize. A new app may take 3 months to hit the market. In the app industry, then, the short term may be

• 1 year or less

• 1 to 3 years

• Weeks or a month

Answer explanation

💡 If a long-term plan is 3 months, a short-term plan would probably be no more than a few weeks long. 💡

IJM's senior manager is hiring new employees for their financial department. He/she must follow the recruitment procedure to ensure the most suitable applicant is appointed to a vacant position by using ethical standards in the recruitment and selection process.

What types of plan does the senior manager has applied?

• Single-use plan

• Standing plan

• Corporate plan

• Contingency plan

Launching a new product in the market is which type of plans?

• Standing Plan

• Single-use plan

• Contingency plan

• Strategic plan

Planning take place only at top management level. True or False?

• True

• False

McDonald's Co. will not give franchise to any other company which is already running a restaurant. Identify the type of plans from the above statement.

• Standing plan

• Single-use plan

• Aggressive plan

• Critical plan

Answer explanation

this is a policy, which is under - standing plan. (Continuously applied and used in different situation)