What Do You Know About Planning

20 Questions | Total Attempts: 708

SettingsSettingsSettings
Please wait...
Planning Quizzes & Trivia

.


Questions and Answers
  • 1. 
    Planning is defined as
    • A. 

      Deciding in advance what must be done in the future    

    • B. 

      deciding what must be done in emergency situations    

    • C. 

      Projecting potential cash flows for a coming year    

    • D. 

      None of the above

  • 2. 
    Planning consists of establishing
    • A. 

      Rules    

    • B. 

      Methods    

    • C. 

      Procedures    

    • D. 

      all of the above    

  • 3. 
    Which of the following is a prerequisite to planning?
    • A. 

      Well-defined budget    

    • B. 

      Prompt accounting system    

    • C. 

      Knowledge of external environmental threats    

    • D. 

      (a) and (b)

  • 4. 
    Strategic planning looks ______ year(s) into the future and operational planning looks _____ year(s) into the future.
    • A. 

      Three to five; one to three    

    • B. 

      Three to ten; three    

    • C. 

      Three to ten; one    

    • D. 

      three to five; one to two    

  • 5. 
    Which of the following is a disadvantage of top-down planning?
    • A. 

      Senior management has insight only into the future.    

    • B. 

      Plan implementation may be difficult if senior management has no input.    

    • C. 

      Subordinates may not be in the best position to view the future.    

    • D. 

      Plan implementation may be difficult if subordinates have little or no input.

  • 6. 
    Zero-based planning
    • A. 

      requires justification for new equipment, positions, and programs    

    • B. 

      Is a conservative method of planning    

    • C. 

      (a) and (b)    

    • D. 

      none of the above

  • 7. 
    Incremental planning
    • A. 

      Requires justification for new equipment, positions, and programs    

    • B. 

      Assumes all current operations, equipment, and positions are essential to the mission of the organization    

    • C. 

      occurs on a monthly basis by department managers    

    • D. 

      is used only by specialized committees for ad hoc projects    

  • 8. 
    What are the four stages of corporate planning?
    • A. 

      Strategic planning, operational planning, budgeting, capital budgeting    

    • B. 

      Operational planning, zero-based planning, incremental planning, budgeting    

    • C. 

      Capital budgeting, zero-based planning, operational planning, strategic planning    

    • D. 

      Budgeting, capital budgeting, incremental planning, operational planning    

  • 9. 
    What is capital budgeting?
    • A. 

      The process used to convert the strategic plan into budgets for capital expenditures    

    • B. 

      The process used to budget for anticipated capital expenditures for the next fiscal year    

    • C. 

      The process used to convert the operational plan into budgets for capital expenditures    

    • D. 

      The process used to budget for capital expenditures three to five years out    

  • 10. 
    What is the first step in the planning process?
    • A. 

      Assess the internal and external environments    

    • B. 

      Engage physicians in the process    

    • C. 

      Establish strategic goals    

    • D. 

      Validate the mission and strategic interpretations    

  • 11. 
    When assessing the external environment, what factors must be considered?
    • A. 

      National trends    

    • B. 

      The direction of local markets    

    • C. 

      External threats to the organization    

    • D. 

      All of the above    

  • 12. 
    What is the purpose of a SWOT analysis during an internal environment investigation?
    • A. 

      To identify the organization’s position in the market relative to its competitors    

    • B. 

      To identify the organization’s strengths and weaknesses    

    • C. 

      To identify the organization’s opportunities and threats    

    • D. 

      To identify proactive strategies the organization may take against national trends    

  • 13. 
    What are strategic goals?
    • A. 

      Broad statements of significant results the organization wants to achieve    

    • B. 

      Specific statements of significant results the organization wants to achieve    

    • C. 

      Broad benchmarks an organization wants to achieve relative to its mission    

    • D. 

      Specific factors that set an organization apart from its competitors

  • 14. 
    The strategic financial plan is the link between the _____ and the _____.
    • A. 

      Strategic plan; capital budgeting plan    

    • B. 

      operational plan; budget    

    • C. 

      strategic plan; operational plan    

    • D. 

      budget; capital budgeting plan    

  • 15. 
    Which of the following characteristics differentiates strategic planning from operational planning?
    • A. 

      The participants in the planning process    

    • B. 

      The objectives of the planning process    

    • C. 

      The planning horizon    

    • D. 

      All of the above

  • 16. 
    Which of the following are characteristics of management by objectives (MBO)?
    • A. 

      Subordinates propose objectives to management    

    • B. 

      Converge

    • C. 

      Proposed objectives are negotiated until a decision is made    

    • D. 

      Diverge

    • E. 

      The manager provides subordinates with a general overview of the work to be accomplished in the following year    

    • F. 

      All of the above

  • 17. 
    What are some characteristics of good policies?
    • A. 

      Flexibility    

    • B. 

      Consistency    

    • C. 

      Clear communication    

    • D. 

      All of the above    

  • 18. 
    Procedures are
    • A. 

      Detailed, uniform instructions with predictable outcomes    

    • B. 

      guides to action    

    • C. 

      Statements that either require or forbid an action    

    • D. 

      guides to thinking

  • 19. 
    Methods are
    • A. 

      guides to action    

    • B. 

      Detailed, uniform instructions with predictable outcomes    

    • C. 

      Guides to thinking    

    • D. 

      statements that either require or forbid an action

  • 20. 
    How often should a strategic plan be reviewed?
    • A. 

      Every three to five years    

    • B. 

      Semiannually    

    • C. 

      On an annual basis    

    • D. 

      Every two years