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True or False (Principles of Business Management)
1. Mistakes that can happen with step 1 of the decision-making process can be:
-defining the problem too broadly, or too narrowly
-focusing on symptoms, instead of causes
-not consulting experts
2. Spotlight questions test the ethics of a decision by exposing it to the scrutiny through the eyes of family, community members, and ethical role models.
3. Framing error in politics is often referred to as “spinning the data.”
4. Personal creativity drivers include:
-creativity skills
-task expertise
-emotional intelligence
5. Strategic planning for companies must be done intermittently, such as three times a year.
6. Budgets are multi-use plans that commit resources for specific time periods to activities, projects or programs.
7. The planning process should begin with a short-term plan to define your objectives.
8. Banning office romances is an example of a policy.
9. Contingency plans should be an option only for companies performing badly.
10. Contingency planning attempts to predict what might happen in the future. It is a planning aid, but not a substitute for forecasting.
Expert Answer
1. Answer a.
2. True.
3. True.
4. Answer b- task expertise.
5. False, it doesn’t change that often. It looks at 3-5 year period in future.
6. False. Budgets are single used plans.
7. True.
8. True. Some companies set this as a policy.
9. False. Every company, every action has one.
10. False. It is basically a substitute that can be replaced, if everything doesn’t fall in place as expected.
