3-1 Leadership

What is a strategic plan?

• backup plan to be used in case another plan does not prove productive

• plan that defines the day-to-day activities and tasks employees must perform to

  meet company goals

• broad plan designed to achieve the long-term goals of an organization as a whole

• plan that involves activities needed to implement strategic plans defined by senior

  management

Which of the following is an example of a SMART goal?

• I will start a business selling antiques.

• I will prepare to run a marathon by running every day.

• To be able to buy a new laptop by the fall semester, I will get a part-time job.

• To get a job as an accountant within the next six years, I will go to college, major in

  accounting, attend job and career fairs, apply for an internship, then apply for open

  accountant positions.

Which of the following is not a benefit of planning?

• Planning helps manage change.

• Planning provides direction.

• Planning is only done once a year and does not involve most managers.

• Planning results in more effective resource allocation.

Managers develop a plan to hire workers from a temporary agency during flu season in case regular employees are ill. This is an example of a _____ plan.

• strategic

• operational

• contingency

• tactical

Goal that is specific, measurable, attainable, realistic, and timely

• business plan

• SMART goal

• mission statement

• competitive analysis