Planning and Decision Making Quiz

What is the primary management function that sets the basis for other functions?

• Controlling

• Leading

• Organizing

• Planning

Which type of planning involves defining specific goals and writing them down?

• Informal planning

• Strategic planning

• Tactical planning

• Formal planning

What is one reason managers should engage in planning?

• It establishes coordinated effort

• It increases uncertainty

• It eliminates the need for teamwork

• It reduces the need for objectives

Which type of plan covers any time frame beyond three years?

• Single-use plan

• Short-term plan

• Tactical plan

• Long-term plan

What is the first step in the strategic management process?

• Analyze the external environment

• Identify the organization’s current mission

• Formulate strategies

• Evaluate results

What type of strategy specifies what businesses a company is in?

• Operational strategy

• Corporate strategy

• Functional strategy

• Competitive strategy

Which strategy is formulated when an organization sees opportunities to expand?

• Renewal strategy

• Stability strategy

• Retrenchment strategy

• Growth strategy

What is the last step in the decision-making process?

• Implementation of the alternatives

• Evaluation of the alternatives

• Development of alternatives

• Selection of best alternatives

What type of decision making is used for structured problems?

• Nonprogrammed decision

• Programmed decision

• Strategic decision

• Tactical decision

Which of the following is a disadvantage of group decision making?

• Increased acceptance of solutions

• More complete information

• Diversity of perspectives

• Time-consuming