Professional Documents
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CYCLE TEST-II
Date:23.02.2017
Answer key:
Part A (2 marks)
1. Define Brainstorming.
It is a Process for generating creative ideas and solutions through intensive
and freewheeling group discussion. Every participant is encouraged to think aloud
and suggest as many ideas as possible, no matter seemingly how outlandish or
bizarre.
3. Define Forecasting.
Forecasting is a decision-making tool used by many businesses to help in
budgeting, planning, and estimating future growth. In the simplest terms,
forecasting is the attempt to predict future outcomes based on past events and
management insight. Forecasting starts with certain assumptions based on the
management's experience, knowledge, and judgment.
Strategy Policy
Strategy is a comprehensive plan, made Policy is the guiding principle, that helps the
Meaning
to accomplish the organizational goals. organization to take logical decisions
Top Level Management and Middle Level Top Level Management only formulate the
Formulation
Management follows strategies. policies.