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8. WGU C215 Mgmt. and Planning (Ch. 13, 14, 16) Exam Questions and Answers
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8. WGU C215 Mgmt. and Planning (Ch. 13, 14, 16) Exam Questions and Answers
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8. WGU C215 Mgmt. and Planning (Ch.13, 14, 16)
strategic business plan - Answer-A long-run plan that outlines in broad terms the firm's basic strategy
for the next 2 to 10 years, reevaluated annually, starting point for sale and operations planning
Sales and Operating Planning - Answer-integrates the medium-range functional plans developed by
marketing, operations, engineering, and finance
Marketing Plan - Answer-identifies sales needed to achieve profitability level, growth rate, and ROI
stated in strategic business plan
aggregate plan - Answer-identifies resources needed by operations group during next 6-18 months to
support marketing plan
financial plan - Answer-sources and uses of funds, expected cash flows, anticipated profits and
projected budgets
engineering plan - Answer-Supports the research and development of new products introduced in the
marketing plan and subsequently planned for in the aggregate plan
, Master Production Schedule - Answer-Schedule showing which products will be produced, when
production will take place, and what resources will be used.
level aggregate plan - Answer-maintains a constant workforce and produces the same amount of
product in each time period of the plan
chase aggregate plan - Answer-Produces exactly what is needed each period
Sets labor/equipment capacity to satisfy period demands
hybrid aggregate plan - Answer-uses a combination of level and chase approaches
demand-based options - Answer-A group of options that respond to demand fluctuations through the
use of inventory or back orders, or by shifting the demand pattern.
Capacity-based options - Answer-- overtime
- undertime
- subcontracting
- hiring and firing
finished goods inventory - Answer-manufactured items that are completed and ready for sale
back orders - Answer-results when your company does not have enough production and/or inventory
on hand to cover current demand, so it promises to deliver the product to the customer at a later date
shifting demand - Answer-proactive marketing approach to leveling demand in which your company
tries to change consumer buying patterns by offering incentives
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