MGMT 301 Exam 2 || with Errorless Solutions 100%.
Planning (Definition) correct answers The process of setting performance objectives and
determining how to get them done
Two types of personal planning (Work Style & Life Style) correct answers Judging and
perceiving (you will have a dominant personality)
Judging correct answers Very structured, organized, at work and play, straight line
Perceiving correct answers Flexible, spontaneous, circle
Big Four correct answers Planning, controlling, strategy, structure
4 components of good planning correct answers Action oriented, priority oriented, advantage
oriented, change oriented
Big Rocks correct answers Point is priorities are key in planning. Must start with most important
stuff first.
Planning Process Steps correct answers Define objectives
compare current to objectives
compare future alternatives
analyze alternatives (make plan)
Implement and evaluate
Planning hierarchy correct answers At the top is the mission and purpose. Alignment & follow
through objectives with different levels of management
Long Range Plans correct answers 3 plus years
Short Range Plans correct answers 3-12 months
Operational Plan correct answers Financial, Marketing, Production
Tactical Plan correct answers Facilities, Human Resources
Company Policy correct answers Broad Guidelines
Company Procedures correct answers specific action
Budget correct answers Connects plans with resources
Big six planning tools correct answers Forecasting, Contingency, Scenario, Benchmarking,
Participatory, Goal Setting
, Forecasting correct answers Using statistical tools and intuition based on experience to predict a
future state
Contingency Planning correct answers Identifying actions to take when a strategic or tactical
plan goes wrong
Scenario Planning correct answers Considering future scenarios and developing plans to address
those issues
Benchmarking correct answers Comparing your company to outside organizations both in your
industry and in other businesses
Participatory Planning correct answers Including those impacted and or who will implement your
plan in the process
Goal Setting correct answers Developing clear quantified measures that guides the organization's
and the individual's work
5 key components of a goal correct answers Specific, timely, attainable, challenging, measurable
Shanghai Disney correct answers Disney's new amusement park. Press conference singing in
Chinese and English
Controlling (Start of ch 6) correct answers Ensuring results by measuring performance and
taking corrective action. Right things happen, in the right way, and at the right time
4 Steps of Control Process correct answers Set performance objectives, measure actual
performance, compare actual to objectives, take actions to control process
4 R's of Disney correct answers Rides, Retail, Restaurants, Rest
SKU correct answers Stock Keeping Unit
Managerial Feedback correct answers Inputs to throughputs to outputs
Controls correct answers Feed forward (inputs)
Concurrent (Throughputs)
Feedback (Outputs).
Key is solving problems at each stage using control mechanisms (measurements)
Thon Feed Forward -Pre game correct answers Facilities and operations, sponsors,
communication, merchandise, security, family, finance, entertainment, events
Thon Concurrent -Game Time correct answers Health and hygiene, supplies, maintenance,
families, donations manage
