Exam 8: The Manager As a Planner and Strategist

Effective plans should have four qualities: unity,continuity,accuracy,and inflexibility.

Standing plans are useful in situations that involve nonprogrammed decisions.

Managerial goals should be both challenging and realistic.

Permanent,ongoing,intense competition brought about by advancing technology or changing customer tastes,fads and fashions is referred to as:

A general guide to action for the managers of an organization is known as:

Along with the need for unity,continuity and accuracy,what else did Fayol emphasize in the planning process?

When KFC decided to customize its menu options based on a particular country's preference,the company is employing a ______ strategy.

A functional-level plan states the goals that the managers of each function will pursue to help their division attain its ______ goals,which,in turn,will allow the entire company to achieve its ______ goals.

The last step in the planning process is to determine the organization's mission and goals.

The reason managers pursue vertical integration is that it allows them either to add value to their products by making them special or unique or to lower the costs of making and selling them.

If managers decide that their organization should sell the same standardized product in each national market in which it competes,and use the same basic marketing approach,they adopt a multidomestic strategy.

The last step of strategy implementation is:

Projects are integrated sets of plans for achieving certain goals.

Firestone Tire and Rubber Company purchases rubber plantations in Africa so that it will have a source of supply for its tire manufacturing plants in Akron,Ohio.This is an example of:

In large organizations the divisional level of management is also known as the:

If there are ______ large suppliers of an important input,then suppliers can drive ______ the price of that input and result in ______ profits for companies in an industry.

Which type of organizational strategy states the industries and markets in which the organization intends to compete?

Distinguish between a policy,a rule,and a standard operating procedure of an organization and give one example of each of these types of standing plans that would be used in a business.

Selling to a foreign organization the rights to use a brand name and operating know-how in return for a lump-sum payment and a share of the profits is referred to as:

An organization attempts to succeed by distinguishing its products from those of the competition.What type of strategy is this?