How Can Managers Effectively Plan When the External Environment Is

question 101

Multiple Choice

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

• A)They should set general but rigid plans.
• B)They should be ready to change directions if environmental conditions warrant.
• C)They should continue to follow the set organizational plans as persistence will eventually pay off.
• D)They should only set short-term goals.

---

Definitions:

Pareto Efficiency

A rephrased definition: An economic condition where resources cannot be redistributed to benefit someone without adversely affecting others.

Golf Club

A facility equipped for playing golf, often including a course with 18 holes and a clubhouse.

Tennis Racket

A sporting good used to strike a tennis ball in the game of tennis, typically consisting of a handled frame with an open hoop across which a network of strings is stretched.

Perfectly Competitive System

A market structure where many firms offer a homogeneous product or service, with no single company influencing the market price.