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Question: 2

Strategy is a broad term that usually means the selection of overall objectives. Strategic analysis ordinarily excludes the

  1. Trends that will affect the entity’s markets
  2. Target product mix and production schedule to be maintained
  3. Forms of organizational structure that would best serve the entity
  4. Best ways to invest in research, design, production, distribution, marketing, and administrative activities


Answer: B

Explanation:

Strategic analysis is the process of long-range planning. It includes identifying organizational objectives, evaluating the strengths and weaknesses of the organization, such as market trends, changes the technology, international competition, and social change. The final step is to derive the best strategy for reaching the objectives. Setting the target product mix and production schedule for the current year is not a concern of strategic analysis because it is short-term activity.

Question: 1

A distinction between forecasting and planning

  1. Is not valid because that are synonyms
  2. Arises because forecasting covers the short term and planning does not
  3. Is that forecasts are used in planning
  4. Is that forecasting is a management activity, whereas planning is a technical activity


Answer: C

Explanation:

Planning is the determination of what is to be done, and of how, when, where. and by whom it is to be done. Plans save to direct the activated that all organizational members must undertake to move the organization from where it is to where it wants to be. Forecasting is the basis of planning because it projects the future. A variety of quantitative methods are used in forecasting

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Question: 5

Certain phases of the planning process should be formalized for all of the following reasons expect that

  1. Informal plans and goals lack the necessary precision, understanding, and consistency.
  2. Formal plans can act as a constraint on the decision-making freedom of managers and supervisors
  3. Formalization requires the establishment and observance of deadlines for decision making and planning
  4. Formalization provides a logical basis for rational flexibility in planning


Answer: B

Explanation:

A formal plan is a prescription for organizational behavior and a set of goals. Management decision making is therefore necessarily constrained by the limitations established I the plan.

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Question: 2

Strategy is a broad term that usually means the selection of overall objectives. Strategic analysis ordinarily excludes the

  1. Trends that will affect the entity’s markets
  2. Target product mix and production schedule to be maintained
  3. Forms of organizational structure that would best serve the entity
  4. Best ways to invest in research, design, production, distribution, marketing, and administrative activities


Answer: B

Explanation:

Strategic analysis is the process of long-range planning. It includes identifying organizational objectives, evaluating the strengths and weaknesses of the organization, such as market trends, changes the technology, international competition, and social change. The final step is to derive the best strategy for reaching the objectives. Setting the target product mix and production schedule for the current year is not a concern of strategic analysis because it is short-term activity.

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Question: 2

Strategy is a broad term that usually means the selection of overall objectives. Strategic analysis ordinarily excludes the

  1. Trends that will affect the entity’s markets
  2. Target product mix and production schedule to be maintained
  3. Forms of organizational structure that would best serve the entity
  4. Best ways to invest in research, design, production, distribution, marketing, and administrative activities


Answer: B

Explanation:

Strategic analysis is the process of long-range planning. It includes identifying organizational objectives, evaluating the strengths and weaknesses of the organization, such as market trends, changes the technology, international competition, and social change. The final step is to derive the best strategy for reaching the objectives. Setting the target product mix and production schedule for the current year is not a concern of strategic analysis because it is short-term activity.

Question: 1

A distinction between forecasting and planning

  1. Is not valid because that are synonyms
  2. Arises because forecasting covers the short term and planning does not
  3. Is that forecasts are used in planning
  4. Is that forecasting is a management activity, whereas planning is a technical activity


Answer: C

Explanation:

Planning is the determination of what is to be done, and of how, when, where. and by whom it is to be done. Plans save to direct the activated that all organizational members must undertake to move the organization from where it is to where it wants to be. Forecasting is the basis of planning because it projects the future. A variety of quantitative methods are used in forecasting