Exam 5: Managerial Planning and Goal Setting

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The ABC Corporation should create a crisis management group that is not cross-functional,but does work together well under pressure.

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A(n)____________________ is a broadly stated definition of basic business scope and operations that distinguishes the organization from others of a similar type.

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Contingency plans can also be considered as scenarios.

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The organization's reason for existence is known as

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Operational plans and goals are those that focus on the outcomes that major divisions and departments must achieve in order for the organization to reach its overall goals.

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You are violating which of these goal characteristics when you attempt to create goals for every aspect of employee behavior?

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____________________ plans are developed at the lower levels of the organization to specify action steps toward achieving operational goals and to support tactical plans.

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__________ includes the planning and decision making that lead to the establishment of the firm's goals and the development of a specific strategic plan.

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Sugar manufacturers have been steadily losing business as a result of increasing use of high-fructose corn syrup in processed foods. However,sugar sales are beginning to increase again in recent months. This example most closely demonstrates which of Porter's Five Forces?

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____________ is 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.

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A(n)____________________ is a desired future state that the organization attempts to realize.

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Prevention and preparation are the two stages of crisis management.

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The combination of benefits received and costs paid by the customer refers to value.

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Goals must be set for every aspect of employee behavior or organizational performance to be effective.

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Value occurs when the organizational parts interact to produce a joint effect that is greater than the sum of the parts acting alone.

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The essence of formulating strategy is choosing how the organization will be identical to its key competitors in the industry.

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Crisis planning forces managers to mentally rehearse what they would do if their best laid plans collapse.

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Specific and measurable goal characteristics apply only to the lower-level goals.

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Compare the four levels of goals and plans.

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All of the following are Porter's competitive forces EXCEPT

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