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CAIB 4 Exam | Latest Questions With 100% Correct Answers 2025|2026, Exams of Insurance law
CAIB 4 Exam | Latest Questions With 100% Correct Answers 2025|2026 What are the two approaches to planning? Explain each - Correct Answer 1) Top Down Planning - Management provides the mission, strategies, and objectives for the brokerage 2) Bottom Up Planning - Management provides the mission and broad strategies. Leaves the objectives, goals and activities to business units. What are the advantages and disadvantages of top down planning? - Correct Answer Advantages: Management feels in control and in charge of decision making. Disadvantages: hard to get buy-in from employees What are the advantages and disadvantages of bottom up planning? - Correct Answer Advantages: business units have ownership and buy in. Disadvantages: Management feels less in control, there may be resistance to changes made to the plan by management. Why is Top Down planning not suitable for a small organization. - Correct Answer Stifles innovation, slows decisions, managers need to know too much,
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