WGU C215 Mgmt and Planning (Ch. 13, 14, 16) Questions & Answers

WGU C215 Mgmt and Planning (Ch. 13, 14, 16) Questions & Answers
strategic business plan - ANS-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 - ANS-integrates the medium-range functional plans developed by
marketing, operations, engineering, and finance
Marketing Plan - ANS-identifies sales needed to achieve profitability level, growth rate, and ROI stated in
strategic business plan
aggregate plan - ANS-identifies resources needed by operations group during next 6-18 months to
support marketing plan
financial plan - ANS-sources and uses of funds, expected cash flows, anticipated profits and projected
budgets
engineering plan - ANS-Supports the research and development of new products introduced in the
marketing plan and subsequently planned for in the aggregate plan
Master Production Schedule - ANS-Schedule showing which products will be produced, when production
will take place, and what resources will be used.
level aggregate plan - ANS-maintains a constant workforce and produces the same amount of product in
each time period of the plan
chase aggregate plan - ANS-Produces exactly what is needed each period
Sets labor/equipment capacity to satisfy period demands