Managerial Planning and Goal Setting Quiz

What is the purpose of a strategic plan?

• To define the company's goals for a set period of time

• To set work schedules and policies

• To monitor performance metrics

• To handle unexpected events

Who is responsible for setting and overseeing tactical strategies?

• External consultants

• Frontline employees

• Middle managers

• Top managers

What do operational plans encompass?

• Long-term goals

• Day-to-day activities

• Strategic initiatives

• Financial forecasts

What is the purpose of a strategic goal?

• To set official goals for the organization

• To define the company's reason for existence

• To map out department goals and budgets

• To handle unexpected events

What is the MBO process defined by Peter Drucker in 1954?

• A method for defining goals and monitoring performance

• A process for building scenarios

• A strategy for handling unexpected events

• A technique for forecasting future possibilities

What do single-use plans aim to achieve?

• Day-to-day activities

• Ongoing plans

• One-time goals

• Long-term strategies

What is the benefit of goals and plans in organizations?

• Get in the way of intuition and creativity

• Create a false sense of certainty

• Cause rigidity in a turbulent environment

• Provide a source of motivation and commitment

What is the purpose of contingency planning?

• To plan for emergencies and unexpected conditions

• To deploy intelligence teams

• To set stretch goals for excellence

• To keep track of key performance metrics

What are stretch goals known for?

• Being short-term in nature

• Requiring innovation

• Lacking imagination

• Being unachievable

What is the purpose of performance dashboards?

• To align and track goals

• To handle unexpected events

• To set work schedules and policies

• To define the company's goals for a set period of time