Exam 5: Foundations of Planning

A salad dressing company that buys a large olive grove to produce olive oil is practicing which of the following?

Recently, Taco Rocket has considered buying a local competitor and the two would combine under the Taco Rocket name.This is an example of which of the following?

In a short essay, define and discuss management by objectives (MBO).

The most drastic renewal strategy an organization can carry out is a retrenchment strategy.

In general, upper-level managers focus on tactical or operational planning.

The final three steps in the strategic management process involve the creation and implementation of strategies for realizing organizational goals.

Once SWOT analysis is complete, managers ________ to address the issues that came up during the analysis.

In the twenty-first century, managers increasingly need to consider their plans as ________.

Which of the following defines the time frame of a long-term plan?

Capabilities are "what" an organization has; resources are "how" it uses what it has.

A politician whose ultimate goal is to get elected is planning campaign ads for TV.In planning the ads, the politician is functioning at a ________ level.

To address limited, short-term problems, a company is most likely to employ a ________ strategy.

The ________ strategy occupies the level below the corporate strategy.

The key to MBO, or management by objectives, is that managers and subordinates mutually agree on goals.

A major strength of formal planning is that it gives an organization rigidity.

Which of the following is NOT a function of planning?

Strategic management is the act of figuring out how an organization will compete in the marketplace and attract loyal customers.

In informal planning, goals are usually ________ shared with others in the organization.

Informal planning is ________.

In a short essay, discuss Porter's differentiation strategy.