Chapter 4 Quiz Review

Should a business plan include a detailed financial analysis showing the potential profitability of the firm?

• Yes
• No

Are all business managers involved in planning in some way?

• Yes
• No

Do plans serve as guides for decision making?

• Yes
• No

Does planning usually result in more communication and coordination problems in business?

• Yes
• No

Is long term planning that provides broad goals and directions for the entire business known as operational planning?

• Yes
• No

Is external analysis the first step in strategic planning?

• Yes
• No

Is the development of a business plan an example of strategic planning?

• Yes
• No

Is a policy more specific than a procedure?

• Yes
• No

In general, is the span of control larger at the lower levels of an organization than at the higher levels?

• Yes
• No

In an effective organization, do most employees have more than one supervisor from who they receive job assignments?

• Yes
• No