Question 1

List four reasons why planning generally positively affects a company's performance?

Accepted Answer

Explicit goals and plans can serve the following functions: resource allocation, source of motivation and commitment, guide to action, rationale for decisions, and set a standard of performance

Question 2

A key benefit of management by objectives is that it aligns individual and departmental goals with company goals.

Accepted Answer

A) True 
 B)False  True

Question 3

Differentiation, cost leadership, and focus are three of Porter's competitive strategies.

Accepted Answer

A) True 
 B)False  True

Question 4

List the four components of a SWOT analysis.

Accepted Answer

A SWOT includes stre

Question 5

The dog, according to the BCG Matrix, is a poor performer.

Accepted Answer

A) True 
 B)False

Question 6

A business activity that an organization does particularly well relative to its competition is known as an _______.

Accepted Answer

The answer of A business activity that an organization does...

Question 7

Double Click, Inc. has a number of strategic business units. Their hand-held computer unit has a large market share in this rapidly growing industry. Their hand-held computer business would be classified as:

Accepted Answer

A)  a dog. 
B)  a star. 
C)  a question mark. 
D)  a cash cow. 
E)  stuck in the middle. 
A)  a dog. 
B)  a star. 
C)  a question mark. 
D)  a cash cow. 
E)  stuck in the middle.

Question 8

Managers work with planning experts to develop their own goals and plans in decentralized planning.

Accepted Answer

A) True 
 B)False

Question 9

_______define the action steps by which an organization intends to attain its strategic goals.

Accepted Answer

The answer of _______define the action steps by which an...

Question 10

An SBU stands for Star Business Unit.

Accepted Answer

A) True 
 B)False

Question 11

Step 1 in Management by Objectives is to review progress.

Accepted Answer

A) True 
 B)False

Question 12

Briefly define the characteristics of an effective goal.

Accepted Answer

Effective goals are precisely defined an

Question 13

A strategic plan defines the course of action needed to achieve the stated goals.

Accepted Answer

A) True 
 B)False

Question 14

_______is the final step in the MBO process.

Accepted Answer

A)  Appraise overall performance 
B)  Develop an action plan 
C)  Review progress 
D)  Set goals 
E)  Conduct periodic checkups 
A)  Appraise overall performance 
B)  Develop an action plan 
C)  Review progress 
D)  Set goals 
E)  Conduct periodic checkups

Question 15

Frostburg Fireplaces has used MBO for the past year. Top management just finished evaluating overall performance. The next step in the MBO process should be:

Accepted Answer

A)  to develop new action plans. 
B)  to develop new objectives based on the review of last year's performance. 
C)  to begin a new MBO "cycle", using the same objectives as last year. 
D)  to wait several months to allow information to be digested. 
E)  none of these. 
A)  to develop new action plans. 
B)  to develop new objectives based on the review of last year's performance. 
C)  to begin a new MBO "cycle", using the same objectives as last year. 
D)  to wait several months to allow information to be digested. 
E)  none of these.

Question 16

Scenario - Katelynn Kareem

Managers at WXYZ just announced that the new management program would be focused around MBO concepts. Katelynn Kareem had been a manager at WXYZ for ten years and she was not certain if this new MBO approach was going to fit her department. She had strong commitment to achieving the company's objectives, but she also knew her employees well enough to know that some didn't share the same commitment.
-In the MBO process, after the first step of setting objectives is accomplished, the next step that Katelynn should expect is:

Accepted Answer

A)  reviewing progress toward company goals. 
B)  appraising overall performance. 
C)  developing action plans. 
D)  having a company party to celebrate. 
E)  none of these. 
A)  reviewing progress toward company goals. 
B)  appraising overall performance. 
C)  developing action plans. 
D)  having a company party to celebrate. 
E)  none of these.

Question 17

Scenario - Katelynn Kareem

Managers at WXYZ just announced that the new management program would be focused around MBO concepts. Katelynn Kareem had been a manager at WXYZ for ten years and she was not certain if this new MBO approach was going to fit her department. She had strong commitment to achieving the company's objectives, but she also knew her employees well enough to know that some didn't share the same commitment.
-Katelynn can anticipate enjoying the advantages of MBO which include:

Accepted Answer

A)  increased orientation toward goal achievement. 
B)  performance can improve at all company levels. 
C)  employees are more motivated. 
D)  increased orientation toward goal achievement and motivation. 
E)  all of these. 
A)  increased orientation toward goal achievement. 
B)  performance can improve at all company levels. 
C)  employees are more motivated. 
D)  increased orientation toward goal achievement and motivation. 
E)  all of these.

Question 18

Scenario - Theresa Teutul

Theresa Teutul was an executive with Digital Industries, a leading manufacturer of color televisions. She recognized that the color television market in the late 1970's was facing significant challenges. After two decades of highly successful development and marketing, the sales of color televisions had slowed and replacing older color television sets largely created her market.
-The strategy that the BCG matrix suggests that Theresa should take for this SBU is:

Accepted Answer

A)  invest and grow. 
B)  liquidate while still profitable. 
C)  ask her astrologer for advice. 
D)  keep the SBU healthy and use its excess earnings to invest in other SBU's. 
E)  divestiture. 
A)  invest and grow. 
B)  liquidate while still profitable. 
C)  ask her astrologer for advice. 
D)  keep the SBU healthy and use its excess earnings to invest in other SBU's. 
E)  divestiture.

Question 19

A blueprint specifying the resource allocations schedules, and other actions necessary for attaining goals is referred to as an _____.

Accepted Answer

A)  goal 
B)  plan 
C)  mission 
D)  vision 
E)  objective 
A)  goal 
B)  plan 
C)  mission 
D)  vision 
E)  objective

Question 20

Which type of plan helps managers implement the overall strategic plan?

Accepted Answer

A)  Operational 
B)  Contingency 
C)  Tactical 
D)  Crisis 
E)  Corporate-level 
A)  Operational 
B)  Contingency 
C)  Tactical 
D)  Crisis 
E)  Corporate-level

List four reasons why planning generally positively affects a company's performance?

A key benefit of management by objectives is that it aligns individual and departmental goals with company goals.

Differentiation, cost leadership, and focus are three of Porter's competitive strategies.

List the four components of a SWOT analysis.

The dog, according to the BCG Matrix, is a poor performer.

A business activity that an organization does particularly well relative to its competition is known as an _______.

Double Click, Inc. has a number of strategic business units. Their hand-held computer unit has a large market share in this rapidly growing industry. Their hand-held computer business would be classified as:

Managers work with planning experts to develop their own goals and plans in decentralized planning.

_______define the action steps by which an organization intends to attain its strategic goals.

An SBU stands for Star Business Unit.

Step 1 in Management by Objectives is to review progress.

Briefly define the characteristics of an effective goal.

A strategic plan defines the course of action needed to achieve the stated goals.

_______is the final step in the MBO process.

Frostburg Fireplaces has used MBO for the past year. Top management just finished evaluating overall performance. The next step in the MBO process should be:

A blueprint specifying the resource allocations schedules, and other actions necessary for attaining goals is referred to as an _____.

Which type of plan helps managers implement the overall strategic plan?

Innovative Management for a Changing World

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources and Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Managing Small Business Start-Ups

Filters

Exam 5: Managerial Planning and Goal Setting

List four reasons why planning generally positively affects a company's performance?

A key benefit of management by objectives is that it aligns individual and departmental goals with company goals.

Differentiation, cost leadership, and focus are three of Porter's competitive strategies.

List the four components of a SWOT analysis.

The dog, according to the BCG Matrix, is a poor performer.

A business activity that an organization does particularly well relative to its competition is known as an _______.

Double Click, Inc. has a number of strategic business units. Their hand-held computer unit has a large market share in this rapidly growing industry. Their hand-held computer business would be classified as:

Managers work with planning experts to develop their own goals and plans in decentralized planning.

_______define the action steps by which an organization intends to attain its strategic goals.

An SBU stands for Star Business Unit.

Step 1 in Management by Objectives is to review progress.

Briefly define the characteristics of an effective goal.

A strategic plan defines the course of action needed to achieve the stated goals.

_______is the final step in the MBO process.

Frostburg Fireplaces has used MBO for the past year. Top management just finished evaluating overall performance. The next step in the MBO process should be:

A blueprint specifying the resource allocations schedules, and other actions necessary for attaining goals is referred to as an _____.

Which type of plan helps managers implement the overall strategic plan?

Innovative Management for a Changing World

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources and Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Managing Small Business Start-Ups

Filters