Describe the planning/control cycle.
What will be an ideal response?
The planning/control cycle has two planning steps (1 and 2) and two control steps (3 and 4), as follows: (1) Make the plan. (2) Carry out the plan. (3) Control the direction by comparing results with the plan. (4) Control the direction by taking corrective action in two ways—namely, (a) by correcting deviations in the plan being carried out, or (b) by improving future plans.
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Companies like Coca-Cola had the first-mover advantage since they were the first company to enter a global market. The first-mover advantages include all of the following except:
A) best chance of becoming world leader. B) advantage in adapting to the local culture. C) lead in advertising and promotion exposure. D) gain business experience. E) substantial investments in marketing.
Costs that remain constant over a range of production and then abruptly change include:
a. unexpected costs. b. step-variable costs. c. semifixed costs. d. curvilinear costs.
Feasibility reports answer such questions as Will this plan or proposal work?
Indicate whether the statement is true or false
The importance of the increase in project oversight to today's project manager includes all of the following EXCEPT
A. Oversight increases expected profits from projects. B. Project progress will be reported to an oversight group. C. Oversight impacts the environment in which the project will be implemented. D. Oversight increases interest in supporting and helping the project manager. E. Oversight impacts how the project manager's performance will be measured.