Chapter 4

Question 1

Benchmarking

Answer 1

Uses external and internal comparisons to plan for future events.

Question 2

Best Practices

Answer 2

Things people and organizations do that lead to superior performance.

Question 3

Budget

Answer 3

Plan that commits resources to projects or activities.

Question 4

Complacency Trap

Answer 4

Being carried along by the flow of events.

Question 5

Contingency Planning

Answer 5

Identifies alternative courses of action to take when things go wrong.

Question 6

Forecasting

Answer 6

Process of predicting what will happen in the future.

Question 7

Functional Plans

Answer 7

Describe how different operations within the organization will help advance the overall strategy.

Question 8

Hierarchy of Goals (Hierarchy of Objectives)

Answer 8

Lower level objectives are means to accomplish higher level ones.

Question 9

Objectives

Answer 9

Specific results that you intend to achieve.

Question 10

Operational Plan

Answer 10

Identifies short-term activities to implement strategic plans.

Question 11

Participatory Planning

Answer 11

Includes the persons who will be affected by plans and/or those who will implement them.

Question 12

Plan

Answer 12

Statement of intended means for accomplishing objectives.

Question 13

Planning

Answer 13

Process of setting objectives and determining how to accomplish them.

Question 14

Policy

Answer 14

Standing plan that communicates broad guidelines for decisions and action.

Question 15

Procedure (Rule)

Answer 15

Precisely describes actions that are to be taken in specific situations.

Question 16

Scenario Planning

Answer 16

Identifies alternative future scenarios and makes plans to deal with each one.

Question 17

Strategic Plan

Answer 17

Identifies long term directions for the organization.

Question 18

Tactical Plan

Answer 18

Helps to implement all or parts of a strategic plan.

Question 19

Vision

Answer 19

Clear sense of the future.

Question 20

Zero-Based Budget

Answer 20

Allocates resources as if each budget were brand new.