Exam 8: The Manager As a Planner and Strategist

Discuss the five major threats of Michael Porter's Five force Model.

Discuss the four qualities of an effective plan emphasized by Henri Fayol.

Discuss the three levels of planning and the strategy associated with each level.Provide a business example of each strategy.

An organization attempts to gain a competitive advantage by aiming its efforts at driving down its production costs per unit below those of its competitors.This is known as which type of strategy?

The first step of strategy implementation is:

A specific statement of the organization's purpose,its products,and its customers is called a mission statement.

A plan can be used as a device for controlling managers within an organization.

GE Lighting's marketing managers are responsible for increasing the effectiveness of its advertising and sales campaigns in different countries to improve light bulb sales.

Synergy is obtained when the value created by two divisions operated separately and independently is greater than the value that would be created by two divisions cooperating.

Discuss the three main steps of the planning process.

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:

In performing a SWOT analysis,Campbell Soup Co.realized that the number of competing firms in their industry was increasing.Campbell Soup Co.would classify this as a(n):

A group of managers analyzes both the internal strengths and weaknesses of their organization as well as the opportunities and threats of the external environment.What type of analysis is this?

In the Five Forces Model,the __________ that companies compete against one another for customers,the _________ the level of profits is likely to be for that industry.

A broad statement of an organization's purpose,products,and customer base that differentiate an organization from its competitors is known as a:

A written set of instructions which describes the series of actions that a manager should take in a specific situation is known as:

Define the two main kinds of corporate-level diversification and provide business examples of each.

The cluster of decisions that managers make to assist an organization to achieve its goals is known as:

The second step requires that managers implement the strategies necessary to attain the organization's mission and goals.

A plan that is updated and changed every year to take into consideration how the external environment and the organization's internal environment have changed since the plan was prepared,is known as ________.