How Can Managers Effectively Plan When the External Environment Is

question 55

Multiple Choice

How can managers effectively plan when the external environment is continually changing?

• A) They should discontinue formal planning.
• B) They should set general, but rigid plans.
• C) They should be ready to change directions if environmental conditions warrant.
• D) They should continue to follow the set organizational plans as persistence will eventually pay.

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Definitions:

Adverse Opinion

An auditor’s opinion that states that deviations from generally accepted accounting principles are so serious that an unqualified opinion is impossible and a qualified opinion is not justified.

GAAP

Generally Accepted Accounting Principles; the standard framework of guidelines for financial accounting used in any given jurisdiction.

FASB

Stands for Financial Accounting Standards Board, an organization responsible for establishing accounting and financial reporting standards for companies and non-profit organizations in the United States.

Ostensible Authority

Occurs when a hospital leads a patient to believe that a physician with staff privileges is an employee of the hospital.