WorksheetsPlanning cycle
Total questions: 27
Worksheet time: 17mins
Tactical plans specify how a company will use resources, budgets, and people to accomplish specific goals within its mission.
True
False
Short term goals are also known as strategic goals.
True
False
The overall planning process typically begins with the mission statement and strategic goals.
True
False
Top management is responsible for developing long-term ________________ that make clear how the company will serve customers and position itself against competitors in the next two to five years.
standing plans
tactical plans
operational plans
mission statements
strategic plans
Which of the following is a benefit of planning?
decreased effort
lack of direction
persistence
all of the choices are correct
A mission statement serves as a ________.
statement of the organization's net profits
statement of the organization's purpose
plan for short-term sustainability
statement of the organization's current liabilities
Strategic objectives are set by
middle management.
top management.
line management.
all of the above.
Effective planning is less important to the success of a business than other management functions, such as organizing, implementing, and controlling.
True
False
The top managers in a business are involved in planning, but first-level managers such as supervisors are not.
True
False
What does a Gantt Chart show?
When activities begin and end
Overlap between activities
All of these are correct
Individual activities
Which of these is an advantage of using a Gantt chart for project management?
Communication
Efficiency
Flexibility
All of these are correct
When creating a Gantt chart in Word, what do you need to know first?
Cells
Color blocks
Number of activities and the expected due date
Columns and rows
Which of these is an advantage of using a Gantt chart for project management?
Communication
Efficiency
Flexibility
All of these are correct
Which is a specific group of customers whom a business wishes to reach?
market
market segment
market segmentation
target market
What is the the collection and analysis of information aimed at understanding the behavior of consumers in a certain market?
descriptive research
exploratory research
historical research
market research
Which 3 statements is a purpose of market research?
To promote goods or services
To understand the needs of the customer
To identify competitors
To identify market trends
Define the term primary research
Collecting new information first-hand
Looking at information already collected by another person or organisation
Which of the following are types of primary research?
Websites, newspapers, books, articles, magazines and census
Questionnaires or surveys, observations, interviews, trials and focus groups
What is the purpose of a questionnaire?
To find out information on customers so that charts can be presented, interpreted and analysed
To read articles about recent product innovation in the industry by other companies
To find out what other companies in the industry are doing with their e-commerce
To test a small area to find out if the product will sell before launching it across the UK
Which of the following is a major disadvantage associated with the collection of primary data in the course of marketing research?
it provides the most recent data possible
it is typically expensive
it allows for secrecy from competitors
it fits the firm's marketing needs well
data collection is rapid
