Business Management - Study Mode
[#661] Operational planning is done at
Correct Answer
(B) lower level of management
Explanation
Solution: Operational planning is done at lower level of management. Operational planning (OP) is the process of planning strategic goals and objectives to tactical goals and objectives. They link the strategic plan with the activities the organization will deliver and the resources required to deliver them.
[#662] Crisis decision is also known as ________.
Correct Answer
(D) spot decision
Explanation
Solution: Crisis decision is also known as spot decision. Crisis decision-making (CDM) is challenging and prone to failure. Most CDM schemes are strong at certain aspects of the overall CDM process, but almost none are strong at all of them.
[#663] Operational planning is
Correct Answer
(A) Short term planning
Explanation
Solution: Operational planning is short-term planning which focuses on achieving the company's tactical objectives.
[#664] A decision taken to meet unexpected situations is known as ________.
Correct Answer
(B) crisis decision
Explanation
Solution: A decision taken to meet unexpected situations is known as crisis decision. In a crisis, decisions have the potential to impact the organisation involved.
[#665] The assumptions about future derived from forecasting and used in planning are known as
Correct Answer
(A) planning premises
Explanation
Solution: The assumptions about future derived from forecasting and used in planning are known as planning premises. Planning premises are the anticipated environment in which plans are expected to operate. They include assumptions or forecasts of the future and known conditions that will affect the course of plans such as prevailing policies and existing company plans that controls the basic nature of supporting plans.