Happy Food Restaurant Group plans to open 20 stores within three years.
(a) Which type of plan is the plan above in terms of time? (1 mark)
(b) What is the importance of planning to management? (6 marks)
BAFS QUESTIONS

a) The above plan for the Happy Food Restaurant is in accordance with the long term plan. In this type of plan, the company aims at medium term plan in order to achieve long term benefits and goals. 20 stores will give them long terms benefit in terms of profits and marketing.

b) Planning is of utmost importance in terms of management. It helps the top management to keep track of the goals and analyse the results obtained from certain strategies. It also helps them to monitor change and come up with solutions to cater to problems.

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.