Exam 5: Managerial Planning and Goal Setting

Goals that define the outcomes that major departments must achieve in order for the organization to reach its overall goals are known as ____________________ goals.

In a complex and competitive business world,traditional planning done by a select few is the only planning that works.

In step 1 of the organizational planning process,overall performance is appraised.

Where does the information about opportunities and threats comes from?

What are the two stages of crisis management?

"We seek to become the premier business school in the west" is an example of a statement you are most likely to find in the organization's

According to Porter,the bargaining power of the government is one of the five competitive forces affecting an organization's competitive environment.

Operational plans that focus on specific tasks and processes that help to meet tactical and strategic goals are developed by ____________________ managers and supervisors.

Scenario - SendToMe.com SendToMe.com is a large, diversified distributing company. The company is organized into three divisions: personal products, diagnostic equipment, and office equipment. The personal products division consists primarily of toiletry products for the individual consumer. The products include shampoos, conditioners, bath soaps, and mouthwash. All of the products are sold under store brand labels; typically, the company signs an agreement with a discount store, and the products are sold under the store's label. Sales of this division (and in the industry) have been relatively stable for the past ten years, and the division enjoys a dominant market share. Due to increased efficiencies in manufacturing and distribution, profits from the division have risen. The diagnostic equipment division specializes in developing and marketing medical equipment, specifically equipment used in blood analysis. National sales for medical diagnostic equipment have been growing over 20 percent per year for the last five years. However, sales for this division are stagnant and there has been some discussion among senior management about divesting this division. The office equipment division manufactures a high quality line of office furniture. The products are distributed through better office equipment stores and interior design firms. Sales in this division have more than doubled over the past five years. -Refer to the scenario above.The business-level strategy used by the office equipment division would be called:

Classy Clay has extremely creative employees who,in the opinion of the organization,keep the company ahead of the competition.The creativity of these employees would be classified as

The task environment sectors are the most relevant to strategic behavior and include the behavior of competitors,customers,suppliers,and the labor supply.

The interaction of Production and Sales working together to produce profit greater than the total of both working separately is an example of synergy.

List three innovative approaches to planning.

Which of these is lacking in the goal "profits should be increased in the coming year?"

A(n)_________ is a cross-functional group of managers and employees who work together to gain a deep understanding of specific business issues,with the aim of presenting insights related to that issue.

Management by objectives,single-use plans,and standing plans are all management planning approaches.

____ are called the action steps by which an organization intends to attain its strategic goals.

The plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organization attain its goals is called a(n)__________.

The concentration of suppliers and the availability of substitute suppliers are significant factors in determining supplier power.

Plans provide a standard of assessment.