Question 1

Concentric diversification refers to diversification into related fields.

Accepted Answer

A) True 
 B)False  True

Question 2

Tactical plans are prepared to address the what-ifs of the manager's job.

Accepted Answer

A) True 
 B)False  False

Question 3

Which of the following is true of strategic business units (SBU)?

Accepted Answer

A)  They are highly dependent on the other businesses within the organization. 
B)  The elements of an SBU remain identical across organizations. 
C)  They lack their own set of competitors. 
D)  They exclude single divisions, subsidiaries, or single product lines. 
E)  In a small organization, the entire company may be an SBU. 
A)  They are highly dependent on the other businesses within the organization. 
B)  The elements of an SBU remain identical across organizations. 
C)  They lack their own set of competitors. 
D)  They exclude single divisions, subsidiaries, or single product lines. 
E)  In a small organization, the entire company may be an SBU. E

Question 4

Which of the following is true of objectives?

Accepted Answer

A)  Objectives should be realistic and challenging. 
B)  Secondary objectives relate directly to profit. 
C)  Individual objectives apply to specific units of the organization. 
D)  All objectives in an organization are of same importance. 
E)  Objectives should have an unlimited time frame. 
A)  Objectives should be realistic and challenging. 
B)  Secondary objectives relate directly to profit. 
C)  Individual objectives apply to specific units of the organization. 
D)  All objectives in an organization are of same importance. 
E)  Objectives should have an unlimited time frame.

Question 5

Which of the following is true about contingency plans?

Accepted Answer

A)  Contingency planning is most needed in static environments. 
B)  Contingency plans can be prepared for all possibilities. 
C)  They help the manager to be prepared if something does go wrong. 
D)  They are analogous to top-level, long-range planning. 
E)  They help managers plan for routine situations. 
A)  Contingency planning is most needed in static environments. 
B)  Contingency plans can be prepared for all possibilities. 
C)  They help the manager to be prepared if something does go wrong. 
D)  They are analogous to top-level, long-range planning. 
E)  They help managers plan for routine situations.

Question 6

Grand strategies are the means by which business strategies are operationalized.

Accepted Answer

A) True 
 B)False

Question 7

An organization facing major environmental threats with weak internal resources should adopt a defensive strategy.

Accepted Answer

A) True 
 B)False

Question 8

Successful strategic management does not involve the different levels in the organization.

Accepted Answer

A) True 
 B)False

Question 9

Growth is aggressive and quick under a stability strategy.

Accepted Answer

A) True 
 B)False

Question 10

Explain the three major phases that compose the strategic management process.

Accepted Answer

The strategic management process is comp

Question 11

Following a differentiation strategy implies that the business should have little concern for costs.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is true of stability strategies?

Accepted Answer

A)  Growth is not possible under a stability strategy. 
B)  They are used when a company wants or needs to reduce its operations. 
C)  Under this strategy, organizations can adopt concentration strategy, diversification, or vertical integration. 
D)  They will be successful in unchanging or very slowly changing environments. 
E)  Growth is quick and aggressive under this strategy. 
A)  Growth is not possible under a stability strategy. 
B)  They are used when a company wants or needs to reduce its operations. 
C)  Under this strategy, organizations can adopt concentration strategy, diversification, or vertical integration. 
D)  They will be successful in unchanging or very slowly changing environments. 
E)  Growth is quick and aggressive under this strategy.

Question 13

Primary objectives of an organization relate directly to _____.

Accepted Answer

A)  social responsibility 
B)  profits 
C)  departmental objectives 
D)  employees 
E)  customer service 
A)  social responsibility 
B)  profits 
C)  departmental objectives 
D)  employees 
E)  customer service

Question 14

The _____ strategy is adopted when an organization has weak internal resources and has to face major environmental threats.

Accepted Answer

A)  concentration 
B)  differentiation 
C)  diversification 
D)  defensive 
E)  aggressive 
A)  concentration 
B)  differentiation 
C)  diversification 
D)  defensive 
E)  aggressive

Question 15

Which of the following is true of functional strategies?

Accepted Answer

A)  They are wider in scope than business strategies. 
B)  They are primarily concerned with how to compete in a given business. 
C)  They support the business strategies. 
D)  They are in effect for a relatively long period. 
E)  They are also called competitive strategies. 
A)  They are wider in scope than business strategies. 
B)  They are primarily concerned with how to compete in a given business. 
C)  They support the business strategies. 
D)  They are in effect for a relatively long period. 
E)  They are also called competitive strategies.

Question 16

Elaborate on the SMART criteria used for stating and writing objectives.

Accepted Answer

The SMART criteria offer helpful guideli

Question 17

An example of growth strategy is _____.

Accepted Answer

A)  turnaround 
B)  liquidation 
C)  divestiture 
D)  diversification 
E)  differentiation 
A)  turnaround 
B)  liquidation 
C)  divestiture 
D)  diversification 
E)  differentiation

Question 18

Planning enables a manager or an organization to actively affect rather than passively accept the future.

Accepted Answer

A) True 
 B)False

Question 19

Procedures ignore details.

Accepted Answer

A) True 
 B)False

Question 20

An organization facing several environmental opportunities with numerous internal strengths should adopt a(n)_____ strategy.

Accepted Answer

A)  aggressive 
B)  liquidation 
C)  turnaround 
D)  divestiture 
E)  cannibalization 
A)  aggressive 
B)  liquidation 
C)  turnaround 
D)  divestiture 
E)  cannibalization

Concentric diversification refers to diversification into related fields.

Tactical plans are prepared to address the what-ifs of the manager's job.

Which of the following is true of strategic business units (SBU)?

Which of the following is true of objectives?

Which of the following is true about contingency plans?

Grand strategies are the means by which business strategies are operationalized.

An organization facing major environmental threats with weak internal resources should adopt a defensive strategy.

Successful strategic management does not involve the different levels in the organization.

Growth is aggressive and quick under a stability strategy.

Explain the three major phases that compose the strategic management process.

Following a differentiation strategy implies that the business should have little concern for costs.

Which of the following is true of stability strategies?

Primary objectives of an organization relate directly to _____.

The _____ strategy is adopted when an organization has weak internal resources and has to face major environmental threats.

Which of the following is true of functional strategies?

Elaborate on the SMART criteria used for stating and writing objectives.

An example of growth strategy is _____.

Planning enables a manager or an organization to actively affect rather than passively accept the future.

Procedures ignore details.

An organization facing several environmental opportunities with numerous internal strengths should adopt a(n)_____ strategy.

Management in a Diverse Workplace

The Management Movement

Developing Communication Skills

Decision-Making Skills

Ethical, social, and Legal Responsibilities of Management

International Business

Organizing Work

Organizational Structure

Understanding Work Groups and Teams

Staffing

Employee Training and Development

Motivating Employees

Developing Leadership Skills

Managing Conflict and Stress

Managing Change and Culture

Management Control

Appraising and Rewarding Performance

Operations Management and Planning

Operations Control

Filters

Exam 7: The Basics of Planning and Strategic Management

Concentric diversification refers to diversification into related fields.

Tactical plans are prepared to address the what-ifs of the manager's job.

Which of the following is true of strategic business units (SBU)?

Which of the following is true of objectives?

Which of the following is true about contingency plans?

Grand strategies are the means by which business strategies are operationalized.

An organization facing major environmental threats with weak internal resources should adopt a defensive strategy.

Successful strategic management does not involve the different levels in the organization.

Growth is aggressive and quick under a stability strategy.

Explain the three major phases that compose the strategic management process.

Following a differentiation strategy implies that the business should have little concern for costs.

Which of the following is true of stability strategies?

Primary objectives of an organization relate directly to _____.

The _____ strategy is adopted when an organization has weak internal resources and has to face major environmental threats.

Which of the following is true of functional strategies?

Elaborate on the SMART criteria used for stating and writing objectives.

An example of growth strategy is _____.

Planning enables a manager or an organization to actively affect rather than passively accept the future.

Procedures ignore details.

An organization facing several environmental opportunities with numerous internal strengths should adopt a(n)_____ strategy.

Management in a Diverse Workplace

The Management Movement

Developing Communication Skills

Decision-Making Skills

Ethical, social, and Legal Responsibilities of Management

International Business

Organizing Work

Organizational Structure

Understanding Work Groups and Teams

Staffing

Employee Training and Development

Motivating Employees

Developing Leadership Skills

Managing Conflict and Stress

Managing Change and Culture

Management Control

Appraising and Rewarding Performance

Operations Management and Planning

Operations Control

Filters