Question 1

All of the following are threats to a sustainable, long-term competitive advantage EXCEPT ________.

Accepted Answer

A) market stability 
B) market instabilities and disturbances 
C) evolution of the industry 
D) new technology in the industry 
A) market stability 
B) market instabilities and disturbances 
C) evolution of the industry 
D) new technology in the industry

Question 2

Two movie studios combining to form one larger studio is an example of which of the following?

Accepted Answer

A) forward vertical integration 
B) horizontal integration 
C) backward vertical integration 
D) diversification 
A) forward vertical integration 
B) horizontal integration 
C) backward vertical integration 
D) diversification

Question 3

Which of the following is NOT a reason for managers to plan?

Accepted Answer

A) to give direction to an organization 
B) to deal with change 
C) to establish goals 
D) to establish responsibility for mistakes 
A) to give direction to an organization 
B) to deal with change 
C) to establish goals 
D) to establish responsibility for mistakes

Question 4

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.

Accepted Answer

A) strategic 
B) long-term 
C) tactical 
D) directional 
A) strategic 
B) long-term 
C) tactical 
D) directional

Question 5

In a short essay, define planning and compare formal and informal planning as they are used in various organizations.

Accepted Answer

Planning involves defining the organizat

Question 6

The commitment concept states that plans should ________.

Accepted Answer

A) always stake out a longer time period than is estimated 
B) always stake out a shorter time period than is estimated 
C) stake out a time period that is neither too long nor too short 
D) not include time periods because they are too confining 
A) always stake out a longer time period than is estimated 
B) always stake out a shorter time period than is estimated 
C) stake out a time period that is neither too long nor too short 
D) not include time periods because they are too confining

Question 7

Traditional goal setting requires top managers to set goals that are carried out by the organizational levels below.

Accepted Answer

A) True 
 B)False

Question 8

The first three steps of the strategic management process involve ________ strategies.

Accepted Answer

A) planning 
B) implementing 
C) evaluating 
D) identifying 
A) planning 
B) implementing 
C) evaluating 
D) identifying

Question 9

A diversification strategy focuses on a company becoming its own supplier of inputs.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A) written, but little is 
B) unwritten and little is 
C) written and much is 
D) unwritten, but much is 
A) written, but little is 
B) unwritten and little is 
C) written and much is 
D) unwritten, but much is

Question 11

Informal planning is ________.

Accepted Answer

A) always performed at the lowest organizational level 
B) general and usually lacks continuity 
C) performed exclusively by middle managers 
D) more specific than formal planning 
A) always performed at the lowest organizational level 
B) general and usually lacks continuity 
C) performed exclusively by middle managers 
D) more specific than formal planning

Question 12

Together, an organization's resources and core competencies make up which of the following?

Accepted Answer

A) core philosophy 
B) competitive weapons 
C) core assets 
D) fundamental beliefs 
A) core philosophy 
B) competitive weapons 
C) core assets 
D) fundamental beliefs

Question 13

In traditional goal setting, these individuals set goals.

Accepted Answer

A) top managers 
B) middle and low-level managers 
C) middle managers 
D) managers and employees 
A) top managers 
B) middle and low-level managers 
C) middle managers 
D) managers and employees

Question 14

Planning is concerned with ________.

Accepted Answer

A) both ends and means 
B) ends only 
C) means only 
D) neither ends nor means 
A) both ends and means 
B) ends only 
C) means only 
D) neither ends nor means

Question 15

The thing that makes your product special is known as your ________.

Accepted Answer

A) assets 
B) destruction device 
C) competitive advantage 
D) competitive strength 
A) assets 
B) destruction device 
C) competitive advantage 
D) competitive strength

Question 16

Taco Rocket (Scenario)
Imagine that you are the president of Taco Rocket, a new and successful chain of 8 Mexican fast-food restaurants. The success you have experienced in the last 5 years has you thinking of what to do with the business next. Should you expand the business at the current rate? Open new and different restaurants? What?
-For a limited time, Taco Rocket is thinking of coming out with a new Fifth Degree Burrito that is so hot it "burns a hole in the plate." Catering to the small segment of the market that likes super-hot food is an example of a ________.

Accepted Answer

A) focus strategy 
B) cost leader strategy 
C) long-term strategy 
D) differentiation strategy 
A) focus strategy 
B) cost leader strategy 
C) long-term strategy 
D) differentiation strategy

Question 17

The three different types of strategies that managers implement are ________.

Accepted Answer

A) corporate, private, functional 
B) corporate, competitive, functional 
C) long-term, short-term, public 
D) competitive, noncompetitive, corporate 
A) corporate, private, functional 
B) corporate, competitive, functional 
C) long-term, short-term, public 
D) competitive, noncompetitive, corporate

Question 18

An organization's capabilities identify ________.

Accepted Answer

A) what the organization knows 
B) who the organization is 
C) assets that the organization can rely on 
D) what the organization can do 
A) what the organization knows 
B) who the organization is 
C) assets that the organization can rely on 
D) what the organization can do

Question 19

An external analysis will identify the threats to a company's well-being, but not opportunities for success.

Accepted Answer

A) True 
 B)False

Question 20

Failing to discard successful plans from the past is likely to lead to ________.

Accepted Answer

A) more success because conditions are unlikely to change in the future 
B) failure because conditions are likely to change in the future 
C) success because of the high quality of the plans 
D) failure because of the low quality of the plans 
A) more success because conditions are unlikely to change in the future 
B) failure because conditions are likely to change in the future 
C) success because of the high quality of the plans 
D) failure because of the low quality of the plans

All of the following are threats to a sustainable, long-term competitive advantage EXCEPT ________.

Two movie studios combining to form one larger studio is an example of which of the following?

Which of the following is NOT a reason for managers to plan?

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.

In a short essay, define planning and compare formal and informal planning as they are used in various organizations.

The commitment concept states that plans should ________.

Traditional goal setting requires top managers to set goals that are carried out by the organizational levels below.

The first three steps of the strategic management process involve ________ strategies.

A diversification strategy focuses on a company becoming its own supplier of inputs.

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

Informal planning is ________.

Together, an organization's resources and core competencies make up which of the following?

In traditional goal setting, these individuals set goals.

Planning is concerned with ________.

The thing that makes your product special is known as your ________.

The three different types of strategies that managers implement are ________.

An organization's capabilities identify ________.

An external analysis will identify the threats to a company's well-being, but not opportunities for success.

Failing to discard successful plans from the past is likely to lead to ________.

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

All of the following are threats to a sustainable, long-term competitive advantage EXCEPT ________.

Two movie studios combining to form one larger studio is an example of which of the following?

Which of the following is NOT a reason for managers to plan?

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.

In a short essay, define planning and compare formal and informal planning as they are used in various organizations.

The commitment concept states that plans should ________.

Traditional goal setting requires top managers to set goals that are carried out by the organizational levels below.

The first three steps of the strategic management process involve ________ strategies.

A diversification strategy focuses on a company becoming its own supplier of inputs.

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

Informal planning is ________.

Together, an organization's resources and core competencies make up which of the following?

In traditional goal setting, these individuals set goals.

Planning is concerned with ________.

The thing that makes your product special is known as your ________.

The three different types of strategies that managers implement are ________.

An organization's capabilities identify ________.

An external analysis will identify the threats to a company's well-being, but not opportunities for success.

Failing to discard successful plans from the past is likely to lead to ________.

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