FBM - BABM 1001 Quiz

What are the different types of plans discussed in the text?

• Strategic, operational, and tactical

• Business unit, operational, and tactical

• Strategic, business unit, and operational

• Strategic, operational, activity and other

What is the purpose of a strategic plan?

• To set a direction for the whole organization

• To detail how managers will achieve their strategy

• To specify the actions needed to deliver products or services

• To deal with routine, recurring issues

What is a business plan?

• A document describing the markets the business will serve

• A document showing the resources available to the organization

• A document detailing the actions needed to achieve strategic goals

• A document summarizing the financial projections of the business

What is the purpose of operational plans?

• To set a direction for the whole organization

• To detail how managers will achieve their strategy

• To specify the actions needed to deliver products or services

• To deal with routine, recurring issues

What is the difference between specific and directional plans?

• Specific plans have clear objectives, while directional plans leave room for interpretation

• Specific plans focus on short-term goals, while directional plans focus on long-term goals

• Specific plans are quantitative, while directional plans are qualitative

• Specific plans are detailed, while directional plans are broad

What are the criteria for assessing goals?

• Specific, measurable, attainable, rewarded, and timed

• Quantitative, qualitative, challenging, rewarding, and time-bound

• Realistic, achievable, measurable, rewarding, and time-bound

• Specific, measurable, achievable, relevant, and time-bound

What is the hierarchy of goals?

• Organizational goals, functional goals, and specific goals

• Strategic goals, operational goals and activity goals

• Functional goals, specific goals, and organizational goals

• Specific goals, organizational goals, and functional goals

What is the difference between uncertainty and ambiguity in decision making?

• Uncertainty means having all the information needed, while ambiguity means being able to estimate the likelihood of alternative outcomes

• Uncertainty means being clear about goals but having little information, while ambiguity means being uncertain about goals and how to achieve them

• Uncertainty means being able to estimate the likelihood of alternative outcomes, while ambiguity means having all the information needed

• Uncertainty means being uncertain about goals and how to achieve them, while ambiguity means being clear about goals but having little information

What is a programmed decision?

• A decision that is based on intuition

• A decision that requires a custom-made solution

• A decision that is uncertain and ambiguous

• A decision that deals with routine matters

What are the four tasks of managing?

• Planning, organizing, leading, networking

• Networking, communication, human resource management, controlling

• Planning, organizing, leading, controlling

• Planning, organizing, networking, controlling