Exam 3: Planning and Strategic Management

Relish has a chain of outlets that sells baked products. Relish requires all its employees to complete a month's training before they could work in the kitchen. This is an example of a:

_____ planning refers to the determination of alternative courses of action to be taken if an intended plan is unexpectedly disrupted or rendered inappropriate.

A _____ is the most general form of standing plan that specifies the organization's general response to a designated problem or situation.

_____ strategy is the set of strategic alternatives from which an organization chooses as it operates in a particular industry or market.

If an organization is facing an unexpected disruption or if its current plans are rendered inappropriate by surprising events, then it can still maintain some control by implementing its _____ plans.

Samantha is responsible for building the day-to-day work schedules for her subordinates. She assigns specific tasks to her subordinates and designs activities according to the objectives that she receives from her seniors. Samantha works on _____ plans.

The _____ is the component of a strategy that specifies the range of markets in which an organization will compete.

Which of the following is most closely associated with an overall cost leadership strategy?

Venus Corp. is a large corporation with many strategic business units. The top managers and board of directors are reviewing the performance of the business units to estimate the amount of resources that each unit will require in the next few years. The plan created for allocation of resources among the business units of Venus would be a(n) _____ plan.

_____ is the set of strategic alternatives that helps an organization focus its competitive efforts for each industry or market in a targeted and focused manner.

How an organization distributes its resources across the areas in which it competes is called _____.

The mid-range plans developed by middle managers to aid the organization in achieving its strategic goals are called _____ plans.

In the context of the GE Business Screen matrix, _____ is a determinant of the competitive position of a company.

A(n) _____ strategy helps the organization focus on its operations simultaneously across several industries and several markets.

Firms that implement a strategy of _____ operate multiple businesses that are not logically associated with one another.

Gadgetbug Inc. is known for its extremely efficient after-purchase service. None of Gadgetbug's competitors provide the same kind of customer service. Gadgetbug's _____ is described in the scenario.

Pilots have a check list they use to pre-flight an aircraft. This is an example of a(n) _____.

Which of the following statements is true about strategic goals?

According to the GE Business Screen, businesses with a low industry attractiveness and poor competitive position are called _____.

The _____ is a portfolio management technique that considers industry attractiveness and competitive position rather than focusing solely on market growth and market share.