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WorksheetsBusiness Planning Quiz
Total questions: 10
Worksheet time: 5mins
It is making predictions of what is likely to happen in the future. It shows that the managers know something of future happenings even before things actually happen.
Contingency
Forecasting
Scenario
Benchmarking
It is a course of action that your organization would take if an unexpected event or situation occurs.
Contingency
Forecasting
Scenario
Benchmarking
Why contingency planning is important in overall business continuity.
helps to ensure you are prepared for what may come
making assumptions of what future is.
It is an active strategy.
It relates to future events.
Which of the following statements explain forecasting.
the process of assessing the future normally using calculations and projections that take account of the past performance, current trends, and anticipated changes in the foreseeable period ahead.
It offers alternative courses of action when the unexpected happens or when things go wrong
It is finding out what other people and organizations do well and then plan how to incorporate these practices in the company’s operations.
It is to understand what strategies underpin successful companies
It refers to another planning technique that generally involves external comparisons of a company’s practices and technologies with those of other companies.
Contingency
Forecasting
Scenario
Benchmarking
The future estimates of various business operations will have to be based on the results obtainable through systematic investigation of the economy, products and industry.
Estimation of Future Operations
Regulation of Forecasts
Developing the Basis
Review of the Forecasting Process
They have to constantly compare the actual operations with the forecasts prepared in order to find out the reasons for any deviations from forecasts.
Estimation of Future Operations
Regulation of Forecasts
Developing the Basis
Review of the Forecasting Process
On the basis of the data collected through systematic investigation into the economy and industry situation, the manager has to prepare quantitative estimates of the future scale of business operations.
Estimation of Future Operations
Regulation of Forecasts
Developing the Basis
Review of the Forecasting Process
Farmers use scenarios to predict whether the harvest will be good or bad, depending on the weather. It helps them forecast their sales but also their future investments. This illustration shows?
Forecasting
Scenario
Benchmarking
Contingency
This involves collecting information on how well you’re doing in terms of outcomes and comparing these outcomes internally or externally.
Participatory Benchmarking
Performance Benchmarking
Strategic Benchmarking
Process Benchmarking
