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Long-Term Objectives in Kennedy's Lesson 1

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Long-Term Objectives in Kennedy's Lesson 1

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Questions and Answers

What should the time frame for both objectives and strategies be?

One year

Six months

Ten years

Two to five years (correct)

What are some common terms in which objectives are commonly stated?

Number of holidays taken

Growth in sales (correct)

Number of employees hired

Number of coffee machines purchased

What benefits do clearly established objectives provide?

Minimize exertion

Increase uncertainty

Create confusion

Reduce conflicts (correct)

At what levels of an organization are long-term objectives needed?

Corporate, divisional, and functional levels Signup and view all the answers

What should each objective be associated with?

A timeline Signup and view all the answers

What is the nature of long-term objectives according to the text?

Quantitative, measurable, realistic, and challenging Signup and view all the answers

What does Arthur D. Little suggest should be the basis for managers' bonuses or merit pay?

Long-term objectives and strategies Signup and view all the answers

What are examples of financial objectives in organizations?

Greater return on investment Signup and view all the answers

What is the downside of managing by crisis according to the text?

Reacting rather than acting Signup and view all the answers

What is the main idea behind the saying 'If it ain't broke, don't fix it' in the text?

Maintaining the status quo Signup and view all the answers

What is the primary focus of strategic objectives in organizations according to the text?

Achieving technological leadership Signup and view all the answers

What is one of the consequences of managing by subjectives as described in the text?

Lack of guidance for subordinates Signup and view all the answers