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Quiz #1

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

It gives reason for being in existence and tells any stakeholder just what the company is doing and why.

(a)  

2.

It is a separate operating unit within an organization which is self-contained and can relate to a single product, a product range, a department or even a subsidiary company within a large multiple organization.

(a)  

3.

This type of plan is often produced to cover a situation which has arisen unexpectedly.

(a)  

4.

This is a wide-reaching plan which is developed at the highest management level to cover every aspect of an organization.

(a)  

5.

It really depends on just how big the company is and how many levels of senior decision- makers there are.

(a)  

6.

Sometimes this type of structure is known as a "father, son and grandson" structure which indicates a straight line relationship from the beginning to the end of the line.

(a)  

7.

It is simply the statement of method(s) that will be used to achieve the objective.

(a)  

8.

It is simply the process of deciding in the present what to do in the future.

(a)  

9.

Relate to specific sections of the organization, but they must reflect the higher level direction and always fit with plans for other functional areas or departments.

(a)  

10.

A system where the depth of the structure has been narrowed and some lines of management have been removed.

(a)  

11.

Type of Plans

a)

Objectives

b)

Strategic plan

c)

Controls

d)

Corporate plan

12.

Components of a plan

a)

Objectives

b)

Tactics/programmes

c)

linear/formal approach

d)

emergent approach

13.

Contents of a mission statement

a)

establishing corporate objectives and strategies

b)

individual Strategic Business Unit planning

c)

product or service which is being offered

d)

history of the company

14.

Benefits to be gained from planning

a)

Reduction of uncertainty

b)

Gains commitment

c)

Market is highly competitive and global

d)

Increased drive for shareholder value

15.

Planning Structures

a)

Vertical system

b)

short, medium and long term

c)

corporate

d)

Horizontal system