Question 1

The planning process begins with which of the following?

Accepted Answer

A) The development of operational goals 
B) The development of a mission statement 
C) Communication of goals to the rest of the organization 
D) A company-wide meeting 
E) Brainstorming 
A) The development of operational goals 
B) The development of a mission statement 
C) Communication of goals to the rest of the organization 
D) A company-wide meeting 
E) Brainstorming

Question 2

Compare and contrast management by objectives and management by means.

Accepted Answer

Management by objectives (MBO) is a meth

Question 3

One of the limitations of setting goals and making plans is that they can get in the way of creativity.

Accepted Answer

A) True 
 B)False

Question 4

Consolidated Business Group holds a diverse portfolio of business interests including several cash cows.What does having cash cows mean for Consolidated's strategies?

Accepted Answer

A) Consolidated will likely be harmed should there be unstable financial conditions. 
B) Consolidated is likely to experience cash shortfalls in the near future. 
C) Consolidated needs to divest itself of the cows and sell off their assets. 
D) Consolidated can afford to invest in riskier businesses. 
E) Consolidated is likely to grow rapidly as the cows' markets expand. 
A) Consolidated will likely be harmed should there be unstable financial conditions. 
B) Consolidated is likely to experience cash shortfalls in the near future. 
C) Consolidated needs to divest itself of the cows and sell off their assets. 
D) Consolidated can afford to invest in riskier businesses. 
E) Consolidated is likely to grow rapidly as the cows' markets expand.

Question 5

The strategy of moving into new lines of business is called ______.

Accepted Answer

A) individuation 
B) differentiation 
C) acquisition 
D) expansion 
E) diversification 
A) individuation 
B) differentiation 
C) acquisition 
D) expansion 
E) diversification

Question 6

Which management method focuses manager and employee efforts on activities that will lead to goal attainment?

Accepted Answer

A) Tactical planning 
B) Contingency planning 
C) Single-use planning 
D) Management by objectives 
E) Management by walking around 
A) Tactical planning 
B) Contingency planning 
C) Single-use planning 
D) Management by objectives 
E) Management by walking around

Question 7

In the BCG matrix, a dog is a poor performer.

Accepted Answer

A) True 
 B)False

Question 8

Alabama Airlines has three planning specialists who help division managers develop their own division plans.Serving as consultants to the divisions, the planning specialists give advice about strengths, weaknesses, opportunities, and threats.Alabama Airlines is utilizing which of the following approaches to the planning function?

Accepted Answer

A) Centralized planning department 
B) Decentralized planning staff 
C) Planning task force 
D) Centralized planning committee 
E) TQM 
A) Centralized planning department 
B) Decentralized planning staff 
C) Planning task force 
D) Centralized planning committee 
E) TQM

Question 9

In building _____, managers look at current trends and discontinuities and visualize future possibilities.

Accepted Answer

A) emergency plans 
B) risk abatements 
C) scenarios 
D) contingencies 
E) vision plans 
A) emergency plans 
B) risk abatements 
C) scenarios 
D) contingencies 
E) vision plans

Question 10

Consider Porter's competitive strategies.Which strategy is most likely to push empowerment to employees with customer contact?

Accepted Answer

A) Cost leadership 
B) Differentiation 
C) Focused differentiation 
D) Internal growth 
E) Focused cost leadership 
A) Cost leadership 
B) Differentiation 
C) Focused differentiation 
D) Internal growth 
E) Focused cost leadership

Question 11

Crowdsourcing generally results in fewer meaningful opportunities for participation by employees in strategy formulation and execution.

Accepted Answer

A) True 
 B)False

Question 12

Strategy execution is the stage of strategic management that involves the use of managerial and organizational tools to direct resources toward achieving strategic outcomes.

Accepted Answer

A) True 
 B)False

Question 13

One of the biggest benefits of planning is that plans create greater organizational flexibility in turbulent environments.

Accepted Answer

A) True 
 B)False

Question 14

During the strategy execution phase, operational goals are defined.

Accepted Answer

A) True 
 B)False

Question 15

__________ is the set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

Accepted Answer

Strategic

Question 16

Fred has been asked to conduct a SWOT analysis for his organization, Acme, Inc.As part of this assignment, Fred will be most likely to _____.

Accepted Answer

A) conduct an external wage survey 
B) identify his firm's strengths and weaknesses 
C) choose a grand strategy for his firm 
D) do a cost-benefit analysis 
E) develop a mission 
A) conduct an external wage survey 
B) identify his firm's strengths and weaknesses 
C) choose a grand strategy for his firm 
D) do a cost-benefit analysis 
E) develop a mission

Question 17

A core competence is something that the organization does especially well in comparison to its competitors.

Accepted Answer

A) True 
 B)False

Question 18

Strategy __________ refers to the use of managerial and organizational tools to direct resources toward achieving strategic outcomes.

Accepted Answer

A) formulation 
B) coordination 
C) execution 
D) control 
E) planning 
A) formulation 
B) coordination 
C) execution 
D) control 
E) planning

Question 19

Some companies hire competitive intelligence professionals to scan the external environment and provide data and research on relevant domestic and global trends.

Accepted Answer

A) True 
 B)False

Question 20

List the five characteristics of effective goals.

Accepted Answer

Goals should:
1.be specific an

The planning process begins with which of the following?

Compare and contrast management by objectives and management by means.

One of the limitations of setting goals and making plans is that they can get in the way of creativity.

Consolidated Business Group holds a diverse portfolio of business interests including several cash cows.What does having cash cows mean for Consolidated's strategies?

The strategy of moving into new lines of business is called ______.

Which management method focuses manager and employee efforts on activities that will lead to goal attainment?

In the BCG matrix, a dog is a poor performer.

In building _____, managers look at current trends and discontinuities and visualize future possibilities.

Consider Porter's competitive strategies.Which strategy is most likely to push empowerment to employees with customer contact?

Crowdsourcing generally results in fewer meaningful opportunities for participation by employees in strategy formulation and execution.

Strategy execution is the stage of strategic management that involves the use of managerial and organizational tools to direct resources toward achieving strategic outcomes.

One of the biggest benefits of planning is that plans create greater organizational flexibility in turbulent environments.

During the strategy execution phase, operational goals are defined.

__________ is the set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

Fred has been asked to conduct a SWOT analysis for his organization, Acme, Inc.As part of this assignment, Fred will be most likely to _____.

A core competence is something that the organization does especially well in comparison to its competitors.

Strategy __________ refers to the use of managerial and organizational tools to direct resources toward achieving strategic outcomes.

Some companies hire competitive intelligence professionals to scan the external environment and provide data and research on relevant domestic and global trends.

List the five characteristics of effective goals.

The World of Innovative Management

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Talent and Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters

Exam 5: Planning and Goal Setting

The planning process begins with which of the following?

Compare and contrast management by objectives and management by means.

One of the limitations of setting goals and making plans is that they can get in the way of creativity.

Consolidated Business Group holds a diverse portfolio of business interests including several cash cows.What does having cash cows mean for Consolidated's strategies?

The strategy of moving into new lines of business is called ______.

Which management method focuses manager and employee efforts on activities that will lead to goal attainment?

In the BCG matrix, a dog is a poor performer.

In building _____, managers look at current trends and discontinuities and visualize future possibilities.

Consider Porter's competitive strategies.Which strategy is most likely to push empowerment to employees with customer contact?

Crowdsourcing generally results in fewer meaningful opportunities for participation by employees in strategy formulation and execution.

Strategy execution is the stage of strategic management that involves the use of managerial and organizational tools to direct resources toward achieving strategic outcomes.

One of the biggest benefits of planning is that plans create greater organizational flexibility in turbulent environments.

During the strategy execution phase, operational goals are defined.

__________ is the set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

Fred has been asked to conduct a SWOT analysis for his organization, Acme, Inc.As part of this assignment, Fred will be most likely to _____.

A core competence is something that the organization does especially well in comparison to its competitors.

Strategy __________ refers to the use of managerial and organizational tools to direct resources toward achieving strategic outcomes.

Some companies hire competitive intelligence professionals to scan the external environment and provide data and research on relevant domestic and global trends.

List the five characteristics of effective goals.

The World of Innovative Management

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Talent and Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters