Chapter 5

Question 1

the process of setting performance objectives and determining how to accomplish them.

Answer 1

Planning

Question 2

Steps in the planning process

Answer 2

Step 1. Define your objectives Know where you want to go; be specific enough to know you have arrived when you get there and how far off you are along the way.

Step 2. Determine where you stand vis-à-vis objectives Know where you presently stand in reaching the objectives; identify strengths that work in your favor and weaknesses that can hold you back.

Step 3. Develop premises regarding future conditions Generate alternative scenarios for what may happen; identify for each scenario things that may help or hinder progress toward your objectives.

Step 4. Make a plan Choose the action alternative most likely to accomplish your objectives; describe what must be done to implement this course of action.

Step 5. Implement the plan and evaluate results Take action; measure progress toward objectives as implementation proceeds; take corrective actions and revise the plan as needed.

Question 3

specific results that one wishes to achieve

Answer 3

objectives

Question 4

a statement of intended means for accomplishing objectives.

Answer 4

plan

Question 5

being lulled into inaction by successes or failures of the moment.

Answer 5

complacency trap

Question 6

cover a year or less,

Answer 6

short-range plans

Question 7

look ahead three or more years into the future.

Answer 7

long-range plans

Question 8

identifies long-term directions for the organization.

Answer 8

strategic plan

Question 9

clarifies the purpose of the organization and expresses what it hopes to be in the future.

Answer 9

vision

Question 10

sets out ways to implement a strategic plan.

Answer 10

Operational or tactical plans

Question 11

identifies how different parts of an enterprise will contribute to accomplishing strategic plans.

Answer 11

functional plan

Question 12

plan that commits resources to projects or activities.

Answer 12

budget

Question 13

allocates resources as if each budget was brand new.

Answer 13

zero-based budget

Question 14

attempts to predict the future.

Answer 14

forecasting

Question 15

identifies alternative courses of action that can be implemented to meet the needs of changing circumstances.

Answer 15

contingency planning

Question 16

identifies several alternative future scenarios.

Answer 16

Scenario planning

Question 17

a planning technique that makes use of external comparisons to better evaluate current performance.

Answer 17

benchmarking

Question 18

These are things that others are doing and that help them to achieve superior performance.

Answer 18

best practices

Question 19

includes the persons who will be affected by plans and/or who will be asked to implement them.

Answer 19

Participatory planning

Question 20

performance targets that we have to work extra hard and really stretch to reach.

Answer 20

stretch goals