Budgeting Can Be Used in an Organisation To

question 16

Multiple Choice

Budgeting can be used in an organisation to:

• A) motivate managers to achieve organisational goals.
• B) control operations.
• C) provide managers with information for making decisions and planning.
• D) All of the given answers

Understand the similarities and differences between CPFR (Collaborative Planning, Forecasting, and Replenishment) and S&OP (Sales and Operations Planning) processes.

Identify logistical problems that can arise from misalignment between supply and demand and discuss methods to mitigate these effects.

Understand and differentiate between various forecast error measures.

Identify and describe different forecasting methods, including their advantages and disadvantages.

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Definitions:

Random Assignment

The process of allocating subjects randomly to experimental and control groups in a study to ensure that each participant has an equal chance of being assigned to any group, thus reducing bias.

Correlational Studies

Studies in which the investigator analyzes the relationships among variables that were in place before the study, without manipulating those variables.

Placebo Effects

Observable or measurable changes in health or behavior resulting from the administration of a placebo, demonstrating the power of belief and expectation in the healing process.

Double-blind

A study design in which neither the participants nor the experimenters know who is receiving a particular treatment, to prevent bias in the results.