A-Z Goal Setting and Planning (Scenario)

question 33

Multiple Choice

A-Z Goal Setting and Planning (Scenario)
Organizations ABC and XYZ are both in the same industry and vie for the same set of customers in the marketplace. At ABC, goals are set at the top level of management each year and then broken into subgoals for each organizational level. Similarly, plans are developed at the top level and then reformulated and delegated to managers at the middle and lower levels. At XYZ, goals are developed at the top level, and then those managers meet with their subordinates at the next lower level to establish mutually agreeable goals. The middle managers then meet with the first-level managers to establish mutually agreeable goals. Finally, the first-level managers meet with each of their employees and establish mutually agreeable goals. Annual plans are then developed by organization members at all levels to meet their specific needs.
-Because these plans only cover a one-year period,they would most likely be classified as ________ plans.

• A)operational
• B)specific
• C)strategic
• D)single-use

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Definitions:

Total Cost Curve

A graphical representation that shows the total cost of producing different quantities of output.

Ratio

A mathematical expression that represents the quantitative relationship between two numbers, showing how many times one value contains or is contained by the other.

Output

The total amount of goods or services produced by a firm, industry, or economy in a given period.

Average Fixed Costs

The fixed costs of production divided by the quantity of output produced, decreasing as production increases.