Omega Corp. has a goal of increasing its production and reducing overhead costs. To achieve this goal, the company has developed four alternate action plans. The idea is to monitor how these plans work and then invest more in the one that shows maximum results. This kind of planning that allows for flexibility is known as _____.
A)reverse engineering
B)optionbased planning
C)policy planning
D)singleuse planning
E)contingency planning

Question

Omega Corp. has a goal of increasing its production and reducing overhead costs. To achieve this goal, the company has developed four alternate action plans. The idea is to monitor how these plans work and then invest more in the one that shows maximum results. This kind of planning that allows for flexibility is known as _____.
A)reverse engineering
B)option­based planning
C)policy planning
D)single­use planning
E)contingency planning

Quizplus · Accepted Answer

Option-based planning allows for flexibility and the ability to choose the best course of action based on the results of various options. This is exactly what Omega Corp. is doing by monitoring the four alternate action plans and then investing in the one that shows maximum results.