Question 1

The more uncertain a situation is, the more ________ plans must be.

Accepted Answer

A) unspecific 
B) long term 
C) flexible 
D) short term 
A) unspecific 
B) long term 
C) flexible 
D) short term

Question 2

In a short essay, compare specific plans and directional plans.

Accepted Answer

Specific plans are plans that are clearl

Question 3

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

Accepted Answer

When a company seeks to offer unique pro

Question 4

In formal planning, ________.

Accepted Answer

A) specific goals covering a period of years are defined 
B) to maximize flexibility, specific goals are never spelled out 
C) very broad general goals are developed 
D) goals may be written or unwritten 
A) specific goals covering a period of years are defined 
B) to maximize flexibility, specific goals are never spelled out 
C) very broad general goals are developed 
D) goals may be written or unwritten

Question 5

A major strength of formal planning is that it generally correlates with higher profits.

Accepted Answer

A) True 
 B)False

Question 6

SWOT analysis includes the identification of an organization's strengths, weaknesses, opportunities, and threats.

Accepted Answer

A) True 
 B)False

Question 7

Strategic plans address ________.

Accepted Answer

A) overall organizational goals 
B) goals for a single branch of the organization 
C) how overall goals are to be achieved 
D) how a single goal is to be achieved 
A) overall organizational goals 
B) goals for a single branch of the organization 
C) how overall goals are to be achieved 
D) how a single goal is to be achieved

Question 8

In addition to being made by by both managers and employees, MBO goals must be ________.

Accepted Answer

A) nonspecific and open-ended with regard to time 
B) specific and open-ended with regard to time 
C) specific and include an explicit time limit 
D) nonspecific and include no time limit 
A) nonspecific and open-ended with regard to time 
B) specific and open-ended with regard to time 
C) specific and include an explicit time limit 
D) nonspecific and include no time limit

Question 9

________ are important because they provide the standards against which all organizational accomplishments are measured.

Accepted Answer

A) Goals 
B) Guidelines 
C) Models 
D) Rules 
A) Goals 
B) Guidelines 
C) Models 
D) Rules

Question 10

An organization that fails to plan will find it hard to assess progress.

Accepted Answer

A) True 
 B)False

Question 11

All managers plan in some way, either formally or informally.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is a frequently cited criticism of formal planning?

Accepted Answer

A) Plans lock organizations into rigid goals and timetables. 
B) Plans take too long to create. 
C) Plans create resentment within different levels of the organization. 
D) Formal planning works well only for smaller companies. 
A) Plans lock organizations into rigid goals and timetables. 
B) Plans take too long to create. 
C) Plans create resentment within different levels of the organization. 
D) Formal planning works well only for smaller companies.

Question 13

One effect of planning on managers is that it forces them to ________.

Accepted Answer

A) fear change 
B) anticipate and consider the effect of change 
C) work to prevent change 
D) ignore any change that doesn't directly affect them 
A) fear change 
B) anticipate and consider the effect of change 
C) work to prevent change 
D) ignore any change that doesn't directly affect them

Question 14

Managers who fail to plan may ________.

Accepted Answer

A) take advantage of change 
B) stimulate change 
C) be positively affected by change 
D) be adversely affected by change 
A) take advantage of change 
B) stimulate change 
C) be positively affected by change 
D) be adversely affected by change

Question 15

In forward vertical integration, a company becomes its own ________, while in backward vertical integration, the company is its own ________.

Accepted Answer

A) supplier; distributor 
B) supplier; customer 
C) distributor; monitor 
D) distributor; supplier 
A) supplier; distributor 
B) supplier; customer 
C) distributor; monitor 
D) distributor; supplier

Question 16

Which of the following is NOT a function of planning?

Accepted Answer

A) defining goals 
B) identifying a strategy for attaining goals 
C) settling disputes between employees 
D) coordinating organizational activities 
A) defining goals 
B) identifying a strategy for attaining goals 
C) settling disputes between employees 
D) coordinating organizational activities

Question 17

Buying a competitor's product for evaluation is a form of environmental scanning.

Accepted Answer

A) True 
 B)False

Question 18

In most cases, strategic goals include ________.

Accepted Answer

A) all financial objectives 
B) all objectives that are not financial 
C) all objectives, both financial and nonfinancial 
D) some financial objectives 
A) all financial objectives 
B) all objectives that are not financial 
C) all objectives, both financial and nonfinancial 
D) some financial objectives

Question 19

Remedies that all renewal strategies employ include which of the following?

Accepted Answer

A) hiring efficiency experts 
B) new ad campaigns 
C) emulating competitors 
D) cutting costs 
A) hiring efficiency experts 
B) new ad campaigns 
C) emulating competitors 
D) cutting costs

Question 20

To gain a sustainable competitive advantage, a pharmaceutical company might ________.

Accepted Answer

A) market aggressively 
B) set high prices for its products 
C) secure exclusive rights to produce a drug 
D) produce as many generic drugs as possible 
A) market aggressively 
B) set high prices for its products 
C) secure exclusive rights to produce a drug 
D) produce as many generic drugs as possible

The more uncertain a situation is, the more ________ plans must be.

In a short essay, compare specific plans and directional plans.

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

In formal planning, ________.

A major strength of formal planning is that it generally correlates with higher profits.

SWOT analysis includes the identification of an organization's strengths, weaknesses, opportunities, and threats.

Strategic plans address ________.

In addition to being made by by both managers and employees, MBO goals must be ________.

________ are important because they provide the standards against which all organizational accomplishments are measured.

An organization that fails to plan will find it hard to assess progress.

All managers plan in some way, either formally or informally.

Which of the following is a frequently cited criticism of formal planning?

One effect of planning on managers is that it forces them to ________.

Managers who fail to plan may ________.

In forward vertical integration, a company becomes its own , while in backward vertical integration, the company is its own .

Which of the following is NOT a function of planning?

Buying a competitor's product for evaluation is a form of environmental scanning.

In most cases, strategic goals include ________.

Remedies that all renewal strategies employ include which of the following?

To gain a sustainable competitive advantage, a pharmaceutical company might ________.

Managers and Management

The Management Environment

Integrative Managerial Issues

Foundations of Decision Making

Organizational Structure and Design

Managing Human Resources

Managing Change and Innovation

Foundations of Individual Behavior

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Communication and Information

Foundations of Control

Operations Management

Appendix: History Module

Appendix: Entrepreneurship Module

Appendix: Quantitative Module

Appendix: Career Module

Filters

Exam 5: Foundations of Planning

The more uncertain a situation is, the more ________ plans must be.

In a short essay, compare specific plans and directional plans.

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

In formal planning, ________.

A major strength of formal planning is that it generally correlates with higher profits.

SWOT analysis includes the identification of an organization's strengths, weaknesses, opportunities, and threats.

Strategic plans address ________.

In addition to being made by by both managers and employees, MBO goals must be ________.

________ are important because they provide the standards against which all organizational accomplishments are measured.

An organization that fails to plan will find it hard to assess progress.

All managers plan in some way, either formally or informally.

Which of the following is a frequently cited criticism of formal planning?

One effect of planning on managers is that it forces them to ________.

Managers who fail to plan may ________.

In forward vertical integration, a company becomes its own ________, while in backward vertical integration, the company is its own ________.

Which of the following is NOT a function of planning?

Buying a competitor's product for evaluation is a form of environmental scanning.

In most cases, strategic goals include ________.

Remedies that all renewal strategies employ include which of the following?

To gain a sustainable competitive advantage, a pharmaceutical company might ________.

Managers and Management

The Management Environment

Integrative Managerial Issues

Foundations of Decision Making

Organizational Structure and Design

Managing Human Resources

Managing Change and Innovation

Foundations of Individual Behavior

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Communication and Information

Foundations of Control

Operations Management

Appendix: History Module

Appendix: Entrepreneurship Module

Appendix: Quantitative Module

Appendix: Career Module

Filters

In forward vertical integration, a company becomes its own , while in backward vertical integration, the company is its own .