Contingency plans are by their nature often ambiguous. Why?
What will be an ideal response?
Answer: Contingency plans prepare for unexpected circumstances or emergencies. As the circumstances, situation, timing, and events are unknown, it would be difficult to specify the organization's actions in response to them.
Explanation: Contingency plans are necessary for when expected plans fall through or in case of emergencies. One plan cannot contain every possible scenario, but it should cover the most likely events and the actions of key personnel.
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Answer the following statements true (T) or false (F)
1. In this time of Internet connections and speedy-access computer databases, one typically has complete information for planning and decision making. 2. Planning gives you expectations against which you can compare your performance. 3. According to Miles and Snow's basic strategy types, a defender protects its strong position in an industry by constantly seeking new opportunities for growth. 4. Facebook strives to be on the cutting edge of social media and is experiencing phenomenal growth. It encourages what it calls a "hacker" mindset, always looking to break down the old in favor of something better. Of Miles and Snow's basic strategy types, Facebook would be described as a prospector.
Annual-plan control requires making sure the company isn't overspending to achieve sales goals. To do this, management sets monthly or quarterly goals, monitors marketing performance in the marketplace, ________, and takes corrective action
A) conducts a SWOT analysis B) develops tactical plans C) conducts a marketing audit D) hires a marketing controller E) determines the cause of serious performance deviations
If a cable television company had 100 million subscribers at the end of the year, and 2 million of its subscribers left its service, it would have a churn rate of
A. 10 percent. B. 1 percent. C. 20 percent. D. 5 percent. E. 2 percent.
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Indicate whether the statement is true or false