Question 1

The purpose of crowdcasting is to obtain widespread input into the development of business strategy.

Accepted Answer

A) True 
 B)False  True

Question 2

Policies serve as guidelines to action

Accepted Answer

A)  that still allow for some interpretation. 
B)  that must be followed quite strictly. 
C)  for workers below the top-management level. 
D)  mostly in the areas of finance and human resources. 
A)  that still allow for some interpretation. 
B)  that must be followed quite strictly. 
C)  for workers below the top-management level. 
D)  mostly in the areas of finance and human resources. A

Question 3

A rule is a specific course of action or conduct that must be followed;.

Accepted Answer

A) True 
 B)False  True

Question 4

The major thrust of business strategy is to achieve a high level of operational effectiveness and efficiency.

Accepted Answer

A) True 
 B)False

Question 5

A key difference between a vision and a mission is that

Accepted Answer

A)  the mission relates more to today's realities. 
B)  a mission is set farther into the future. 
C)  a vision does not deal with products or services. 
D)  a vision deals more with operations. 
A)  the mission relates more to today's realities. 
B)  a mission is set farther into the future. 
C)  a vision does not deal with products or services. 
D)  a vision deals more with operations.

Question 6

The mission of the Grand Union supermarket chain is probably to provide food, beverages, and related merchandise (all of high quality) to the general public.

Accepted Answer

A) True 
 B)False

Question 7

The major purpose of the strategic inventory is to help the manager size up the competition, the customers, and the technology necessary to compete effectively.

Accepted Answer

A) True 
 B)False

Question 8

Which one of the following is not one of the five competitive forces that business strategists are supposed to take into account?

Accepted Answer

A)  competition among business units within the firm 
B)  the power of customers to affect pricing and reduce profit margins 
C)  the threat of similar or substitute products 
D)  the power of suppliers to influence the company's pricing 
A)  competition among business units within the firm 
B)  the power of customers to affect pricing and reduce profit margins 
C)  the threat of similar or substitute products 
D)  the power of suppliers to influence the company's pricing

Question 9

The experience of General Motors in diversifying into financial services illustrates how sticking to core competencies is the most effective business strategy.

Accepted Answer

A) True 
 B)False

Question 10

A major aspect of the nature of business strategy is to choose a unique set of activities to deliver a unique value.

Accepted Answer

A) True 
 B)False

Question 11

A SWOT analysis is often used to decide upon which weapons and tactics will be used to deal with a corporate crisis such as a contaminated food product.

Accepted Answer

A) True 
 B)False

Question 12

Strategic plans are designed to

Accepted Answer

A)  implement operational plans. 
B)  establish day-by-day procedures. 
C)  shape the destiny of the firm. 
D)  carrying out the functions of management. 
A)  implement operational plans. 
B)  establish day-by-day procedures. 
C)  shape the destiny of the firm. 
D)  carrying out the functions of management.

Question 13

The purpose of tactical planning is to

Accepted Answer

A)  establish a general purpose for the organization. 
B)  translate strategic plans into specific goals and plans for organizational units. 
C)  tell entry level workers what to do on a daily basis. 
D)  compensate for past mistakes. 
A)  establish a general purpose for the organization. 
B)  translate strategic plans into specific goals and plans for organizational units. 
C)  tell entry level workers what to do on a daily basis. 
D)  compensate for past mistakes.

Question 14

Corporate-level strategy is concerned with the total direction of the enterprise and the selection of specific businesses.

Accepted Answer

A) True 
 B)False

Question 15

A medical products firm specializes in the manufacture of prosthetic arms and legs, thereby illustrating a focus strategy.

Accepted Answer

A) True 
 B)False

Question 16

A manager controls the plan when he or she

Accepted Answer

A)  creates a vision statement. 
B)  creates a mission statement. 
C)  establishes a budget to pay for the action plan. 
D)  checks to see how well goals are being attained. 
A)  creates a vision statement. 
B)  creates a mission statement. 
C)  establishes a budget to pay for the action plan. 
D)  checks to see how well goals are being attained.

Question 17

Planning is

Accepted Answer

A)  a complex and comprehensive process involving interrelated stages. 
B)  organizing, implementing, and controlling. 
C)  finding the best person for a job. 
D)  communicating effectively with stakeholders. 
A)  a complex and comprehensive process involving interrelated stages. 
B)  organizing, implementing, and controlling. 
C)  finding the best person for a job. 
D)  communicating effectively with stakeholders.

Question 18

An example of the business strategy of sticking to core competencies is for a company like Papa John's Pizza to concentrate on selling pizza and related food and beverage items to the public.

Accepted Answer

A) True 
 B)False

Question 19

Which one of the following is a component of true business strategy?

Accepted Answer

A)  a high level of operational effectiveness 
B)  a set of activities common to other firms 
C)  giving customers trade-offs 
D)  having quite different activities to make similar products for different markets 
A)  a high level of operational effectiveness 
B)  a set of activities common to other firms 
C)  giving customers trade-offs 
D)  having quite different activities to make similar products for different markets

Question 20

A study of CEO failure indicated that 70 percent of the time their failures were attributed to

Accepted Answer

A)  poorly developed plans. 
B)  poor execution, not poor planning. 
C)  over-ambitious plans. 
D)  lack of adequate cost controls. 
A)  poorly developed plans. 
B)  poor execution, not poor planning. 
C)  over-ambitious plans. 
D)  lack of adequate cost controls.

The purpose of crowdcasting is to obtain widespread input into the development of business strategy.

Policies serve as guidelines to action

A rule is a specific course of action or conduct that must be followed;.

The major thrust of business strategy is to achieve a high level of operational effectiveness and efficiency.

A key difference between a vision and a mission is that

The mission of the Grand Union supermarket chain is probably to provide food, beverages, and related merchandise (all of high quality) to the general public.

The major purpose of the strategic inventory is to help the manager size up the competition, the customers, and the technology necessary to compete effectively.

Which one of the following is not one of the five competitive forces that business strategists are supposed to take into account?

The experience of General Motors in diversifying into financial services illustrates how sticking to core competencies is the most effective business strategy.

A major aspect of the nature of business strategy is to choose a unique set of activities to deliver a unique value.

A SWOT analysis is often used to decide upon which weapons and tactics will be used to deal with a corporate crisis such as a contaminated food product.

Strategic plans are designed to

The purpose of tactical planning is to

Corporate-level strategy is concerned with the total direction of the enterprise and the selection of specific businesses.

A medical products firm specializes in the manufacture of prosthetic arms and legs, thereby illustrating a focus strategy.

A manager controls the plan when he or she

Planning is

An example of the business strategy of sticking to core competencies is for a company like Papa John's Pizza to concentrate on selling pizza and related food and beverage items to the public.

Which one of the following is a component of true business strategy?

A study of CEO failure indicated that 70 percent of the time their failures were attributed to

The Managers Job

International Management and Cultural Diversity

Ethics and Social Responsibility

Problem Solving and Decision Making

Quantitative Techniques for Planning and Decision Making

Job Design and Work Schedules

Organization Structure, Culture, and Change

Staffing and Human Resource Management

Leadership

Motivation

Communication

Teams, Groups, and Teamwork

Information Technology and E-Commerce

Essentials of Control

Managing Ineffective Performers

Enhancing Personal Productivity and Managing Stress

Filters

Exam 4: Essentials of Planning

The purpose of crowdcasting is to obtain widespread input into the development of business strategy.

Policies serve as guidelines to action

A rule is a specific course of action or conduct that must be followed;.

The major thrust of business strategy is to achieve a high level of operational effectiveness and efficiency.

A key difference between a vision and a mission is that

The mission of the Grand Union supermarket chain is probably to provide food, beverages, and related merchandise (all of high quality) to the general public.

The major purpose of the strategic inventory is to help the manager size up the competition, the customers, and the technology necessary to compete effectively.

Which one of the following is not one of the five competitive forces that business strategists are supposed to take into account?

The experience of General Motors in diversifying into financial services illustrates how sticking to core competencies is the most effective business strategy.

A major aspect of the nature of business strategy is to choose a unique set of activities to deliver a unique value.

A SWOT analysis is often used to decide upon which weapons and tactics will be used to deal with a corporate crisis such as a contaminated food product.

Strategic plans are designed to

The purpose of tactical planning is to

Corporate-level strategy is concerned with the total direction of the enterprise and the selection of specific businesses.

A medical products firm specializes in the manufacture of prosthetic arms and legs, thereby illustrating a focus strategy.

A manager controls the plan when he or she

Planning is

An example of the business strategy of sticking to core competencies is for a company like Papa John's Pizza to concentrate on selling pizza and related food and beverage items to the public.

Which one of the following is a component of true business strategy?

A study of CEO failure indicated that 70 percent of the time their failures were attributed to

The Managers Job

International Management and Cultural Diversity

Ethics and Social Responsibility

Problem Solving and Decision Making

Quantitative Techniques for Planning and Decision Making

Job Design and Work Schedules

Organization Structure, Culture, and Change

Staffing and Human Resource Management

Leadership

Motivation

Communication

Teams, Groups, and Teamwork

Information Technology and E-Commerce

Essentials of Control

Managing Ineffective Performers

Enhancing Personal Productivity and Managing Stress

Filters