Exam 5: Foundations of Planning

Troubled companies seek ________ to address serious problems.

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

Formal planning can increase creativity in an organization.

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

This term describes an electric shaver company that carefully observes its competitor's production line to look for ways to improve its own manufacturing process.

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

A company with a differentiation strategy focuses on making its products or services ________.

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

Most successful companies find that ________ a competitive advantage is almost as difficult as developing a competitive advantage.

Research indicates that organizations that don't use formal planning always outperform organizations that do use formal planning.

The ________ strategy occupies the level below the corporate strategy.

Planning gives organizations a way to deal with change that ________.

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

Which of the following is NOT something that a company would be likely to do as a part of a competitive intelligence program?

An organization's real goals and priorities are best revealed by ________.

The specificity of a plan refers to ________ concerns.

The first step in the strategic management process is analyzing the external environment.

Formal planning typically leads to which of the following?

A mission statement includes identification of an organization's ________.

In a short essay, discuss environmental scanning and competitive intelligence.