BUSI 310 CHAPTERS 3 & 4 EXAMS

The goal of planning is to

Increase revenues, satisfy owner requirements, and successfully formulate course of action

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Effective planning will help an organization

Save time

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Concerning effective planning, it can be said that failing to organize is planning to fail

True

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Which of the following is NOT a step in the basic planning process

Incorporating only known variables into the plan

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The first three stages of the formal planning process are

Situational analysis, generation of alternative goals and plans, and evaluation of goals and plans

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Efficiency and effectiveness are incompatible goals that have a specified beginning and ending

False

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The ___________is the reason that an organization exists

Mission statement

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The second step of the Spendolini Benchmarking Model is

None of the above

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The process by which an organization compares its performance against not only its competitors but also other high performing organization is referred to as

Benchmarking

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Concentration, vertical integration, conglomerate diversification, and concentric diversification are all types of

Strategy formulation

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