Exam 5: Managerial Planning and Goal Setting

Some firms engage in crisis planning to enable them to cope with unexpected events that are so sudden and devastating that they have the potential to destroy the organization.

A broad definition of the organization's values, aspiration and reason for being, along with a recognition of the scope and operations that distinguishes the organization refers to a Business Plan.

Plans that define company responses to specific situations, such as emergencies, setbacks, or unexpected conditions are called_______ plans.

The two stages of crisis planning include:

Managers must understand no plan is perfect, but should grow and change to meet new conditions.

Goals that define the outcomes that major divisions and departments must achieve in order for the organization to reach its overall goals is called:

Defining operational goals and plans occurs in the execution phase of the organizational planning process.

Goals are typically stated in quantitative terms.

With an _______strategy, the organization aggressively seeks efficient facilities, pursues cost reductions, and uses tight cost controls to produce products more efficiently than competitors.

Which of these is true about the dog division?

Of the strategic management functions, which is considered the most fundamental?

_______and plans are the responsibilities of middle managers.

An organization's mission describes its reason for existence.

The set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals is known as:

Scenario - SS.com Faced with rapidly growing business, Swift Stocks, Inc., a global brokerage company with the largest market share, recently announced that it has established an on-line stock investment and trading subsidiary, SS.com, where investors can trade stocks at the lowest rates in the industry. The .com subsidiary has less than one percent market share but it faces a very high business growth rate. In the brokerage industry the competition is fierce and all players are cutting their on-line commission rates. -Swift Stock's traditional brokerage business could be classified as a_______.

The question mark has a:

_______is the first step in the MBO process.

What are the two stages of crisis management?

In order for goals to be effective, they should be challenging but realistic.

An_______ is a blueprint for goal achievement and specifies the necessary resource allocations, schedules, tasks, and other actions.