Planning_L1

1.

What is a budget?

A plan for achieving a specific objective

A financial plan that outlines expected income and expenses over a period of time

A document that outlines an organization’s mission and values

A tool for analyzing the strengths, weaknesses, opportunities, and threats of an organization

2.

What is a mission statement?

A statement of an organization’s purpose and goals

A statement of an organization’s financial status

A statement of an organization’s strategic objectives

A statement of an organization’s marketing plan

3.

What is a contingency plan?

A plan for achieving a specific objective

A plan for dealing with unexpected events or circumstances

A tool for analyzing the strengths, weaknesses, opportunities, and threats of an organization

A document that outlines an organization’s mission and values

4.

What is a strategic plan?

A tool for analyzing the strengths, weaknesses, opportunities, and threats of an organization

A plan that outlines an organization’s overall direction and goals

A plan for achieving a specific objective

A document that outlines an organization’s mission and values

5.

What is a PEST analysis?

A tool for setting goals and objectives

An analysis of the political, economic, social, and technological factors that may affect an organization

An analysis of the strengths, weaknesses, opportunities, and threats of an organization

A tool for analyzing an organization’s financial status

6.

What is a stakeholder?

A person who works for a company

A person or organization that has an interest or concern in something, especially a business

A person who owns a company

A person who invests in a company

7.

What is a performance metric?

A tool for analyzing the strengths, weaknesses, opportunities, and threats of an organization

A measurement of an organization’s performance in a specific area

A tool for setting goals and objectives

A document that outlines an organization’s mission and values

8.

What is a project plan?

A tool for analyzing the strengths, weaknesses, opportunities, and threats of an organization

A document that outlines the tasks, resources, and timelines for completing a specific project

A plan for achieving a specific objective

A document that outlines an organization’s mission and values

9.

What is a SMART goal?

A goal that is Strategic, Measurable, Achievable, Relevant, and Time-bound

A goal that is Specific, Measurable, Achievable, Relevant, and Time-bound

A goal that is Simple, Measurable, Aggressive, Relevant, and Time-bound

A goal that is Specific, Measurable, Aggressive, Relevant, and Time-bound

10.

What is a SWOT analysis used for in the planning process?

To develop a budget

To forecast market trends

To develop a marketing plan

To identify strengths, weaknesses, opportunities, and threats

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