Developing Plans As Manufacturing Manager of a Local Manufacturer, You Are Interested

question 86

Multiple Choice

Developing Plans
As manufacturing manager of a local manufacturer, you are interested in developing a new organisational plan.However, you are unsure about several factors.You are not sure who you should assign to the varying planning tasks and there are several other issues pending, such as the potential formation of a union for employees and rising interest rates.You also have to consider that you have contracts with large vendors that extend five years into the future and there has been enormous investment into overseas expansion scheduled to take place in the next four years.
-Refer to Developing Plans (Scenario) .The fact that there are environmental uncertainties, such as the threat of unionisation and rising interest rates, means that the emphasis should be placed on ________.

• A)the long term
• B)lowering risk
• C)flexibility
• D)writing specific objectives
• E)enhancing measurability of outcomes

Distinguish between different human compromises such as rationalization and stereotyping.

Appreciate the significance of identifying problems accurately before seeking solutions.

Understand the need for gathering and organizing facts as a preliminary step in decision making.

Learn how personal perspectives and simplicity can compromise decision quality.

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Definitions:

1st Quartile

The value below which 25% of the data points in a dataset fall, indicating the lower quarter of the data.

3rd Quartile

Also known as the upper quartile, it is the value below which 75% of the data in a dataset falls.

Symmetric Distribution

A distribution where the left and right sides of the distribution are mirror images of each other.

Median

The middle value of a dataset, which divides the dataset into two halves when the numbers are arranged in ascending order.