1. Planning is best described as the process of and.
(a) developing premises about the future; evaluating them
(b) measuring results; taking corrective action
(c) measuring past performance; targeting future performance
(d) setting objectives; deciding how to accomplish them

2. The benefits of planning should include.
(a) improved focus
(b) less need for controlling
(c) more accurate forecasts
(d) increased business profits

3. The first step in the planning process is to.
(a) decide how to get where you want to go
(b) define your objectives
(c) identify possible future conditions or scenarios
(d) act quickly to take advantage of opportunities

4. In order to help implement her firm’s strategic plans, the CEO of a business firm would most likely want marketing, manufacturing, and finance executives to develop.

(a) means–ends chains

(b) operational plans

(c) flexible budgets

(d) project management