Planning Chapter Quiz

Standing plans are used repeatedly because they focus on organizational situations that occur repeatedly. Unlike single-use plans, which are designed for specific one-time situations, standing plans are designed to address ongoing and recurring situations. They provide guidelines and procedures that can be used repeatedly to handle similar situations, ensuring consistency and efficiency in organizational operations.

The given statement suggests that the plans mentioned are implemented to maintain discipline. In this context, a rule is a more appropriate term to describe a specific guideline or regulation that must be followed to ensure discipline. A policy, on the other hand, is a broader term that encompasses a set of principles or guidelines to guide decision-making. Therefore, "rule" is the correct answer as it directly relates to maintaining discipline.

A single use plan is a type of plan that is created to achieve a specific goal that will not need to be repeated in the future. It is designed to address the needs of a unique situation or a one-time event. Unlike standing plans, which are ongoing and recurring, single use plans are temporary and are developed for a specific purpose or objective.

The statement "Planning requires logical and systematic thinking rather than guess work or wishful thinking" suggests that planning is a mental exercise or intellectual activity. This is because it emphasizes the need for logical and systematic thinking, which requires intellectual abilities and mental effort. It implies that planning cannot be done based on random guesses or wishful thinking, but rather requires careful analysis and strategic thinking.

The answer explains that although changes or events cannot be completely eliminated, they can be anticipated and appropriate managerial responses can be developed. This implies that planning helps to reduce the risk of uncertainty by preparing for potential changes or events in advance. It acknowledges that the business environment is uncertain, but planning can help to mitigate future uncertainties.

The statement suggests that the manager has the authority to interpret and implement the plan based on their own judgment and understanding. This implies that the manager has the flexibility to make decisions and adapt the plan according to the specific circumstances and needs of the situation. Therefore, it can be inferred that the correct answer is "Policy" since policies typically provide guidelines and flexibility for decision-making.

Based on the given information, the answer "Planning" is the most suitable option. Planning is the process of setting goals, determining the actions needed to achieve those goals, and outlining the resources required for those actions. It involves creating a roadmap or strategy to guide the decision-making process and ensure effective utilization of resources. Planning is an essential step in any project or task as it helps in organizing and prioritizing activities, minimizing risks, and achieving desired outcomes.

The feature highlighted is that Planning is pervasive as it is present every where

The given answer "Policy" is correct because the question asks to identify the type of plan from the picture, and the picture is not provided. Therefore, without any visual context, the generic term "Policy" can be used to refer to any type of plan or agreement.

The given question is asking for the type of plan that a school follows when giving admission to students who have secured more than 70% marks. The word "policy" fits perfectly in this context as it refers to a set of guidelines or rules that an organization, like a school, follows in order to make decisions and take actions. In this case, the school has a policy of admitting students who have achieved a certain percentage of marks, which is more than 70%.

The given statement suggests that McDonald's has a policy of not giving franchise opportunities to companies that already operate restaurants. A policy is a predetermined course of action that guides decision-making and sets boundaries for behavior within an organization. In this case, McDonald's has established a policy to maintain control over its brand and ensure that its franchises are exclusive to new operators.

The given answer "Policy" is correct because the word "Policy" is mentioned in the question itself. Therefore, the type of plan being referred to in the picture is a policy.

Rules are usually the simplest type of plans because there is no compromise or change unless a policy decision is taken

The assumptions made by a manager about the future, such as interest rates, demand for goods, and inflation, are called planning premises. These premises serve as the foundation for the manager's planning process and help in making informed decisions and strategies for the future.

Rules are usually the simplest type of plans because there is no compromise or change unless a policy decision is taken

The correct answer is objective or objectives because reducing the quality rejection rate to 0.02% is a specific goal or objective that the plan aims to achieve.

The correct answer is "Procedure, Procedures" because a procedure is a specific set of steps or actions that need to be followed in order to accomplish a task or achieve a goal. In this context, the plan for getting raw material and supplies from stores would involve a specific procedure or set of procedures that outlines the necessary steps to be taken.

The options that are neither single use nor standing are Objective and Strategy. Objectives are specific goals or outcomes that an organization or individual aims to achieve, while strategies are the plans or actions implemented to achieve those objectives. Both objectives and strategies are not single-use because they can be used repeatedly to guide decision-making and planning, and they are not standing because they can be modified or updated as needed.

The correct answer is "Procedure,Procedures." The word "Procedure" is derived from the term "Policy." In this context, a procedure refers to a set of steps or actions that need to be followed to accomplish a specific task or goal. "Procedures" is the plural form of "Procedure," indicating multiple sets of steps or actions.

Launching a new product in the market requires a comprehensive plan that encompasses various activities and tasks. This plan is typically referred to as a "programme" or "program" as it involves multiple coordinated actions and resources to achieve the desired outcome. Therefore, the correct answer is "Programme, Program."

The four standing plans from the given options are Policy, Method, Rule, and Procedure. A policy is a general guide for decision-making and action within an organization. A method refers to a specific way of doing something. A rule is a specific guideline or regulation that must be followed. A procedure is a series of steps or actions to be taken in a specific order to achieve a desired outcome. These four standing plans help provide structure, consistency, and guidance in the operations of an organization.

The modernization of plant and machinery is considered a program. A program refers to a set of coordinated activities or actions designed to achieve a specific goal or objective. In this case, the modernization process involves a systematic and planned approach to upgrade and improve the plant and machinery used in a particular industry or organization. It involves various activities such as conducting assessments, identifying areas for improvement, implementing changes, and monitoring progress. Therefore, the modernization of plant and machinery can be categorized as a program rather than a plan, as it involves a series of interconnected actions aimed at achieving a specific outcome.

The given question is asking for the types of plans that are involved in the process of issuing securities. The correct answer is "Procedure" and "Methods". When a company decides to issue securities, it needs to follow a specific procedure or set of steps to ensure compliance with regulations and to successfully complete the issuance. This may involve tasks such as preparing the necessary documents, obtaining approvals, and coordinating with relevant parties. Additionally, the company will need to determine the methods or strategies it will use to issue the securities, such as through a public offering, private placement, or crowdfunding.