The Planning Function in the New Business Environment Can Also

question 3

Multiple Choice

The planning function in the new business environment can also be described more dynamically as

• A) Creating conditions so that people and things work together to achieve maximum success.
• B) Delivering strategic value.
• C) Stimulating people to be high performers.
• D) Monitoring performance and implementing needed changes.
• E) Motivating workers to do their jobs effectively.

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Definitions:

Feedforward Control System

A proactive management approach that aims to prevent future problems through the anticipation and adjustment of processes.

Work Inputs

The effort, materials, and resources put into a process or system to achieve an output or result.

Present Discounted Value

The current value of a future sum of money or stream of cash flows, given a specified rate of return.

Expected Profits

Projected earnings calculated by estimating revenues and subtracting anticipated costs and expenses.