Question 1

Innovation and super-high quality are typically the keys to a cost-leadership strategy.

Accepted Answer

A) True 
 B)False

Question 2

In traditional goal setting,as they work their way from top management to employees,goals are likely to ________.

Accepted Answer

A) become more clear 
B) be more rigorously followed 
C) be unchanged 
D) become less clear 
A) become more clear 
B) be more rigorously followed 
C) be unchanged 
D) become less clear

Question 3

The sole proprietor establishes goals for The Window Doctor that are consistent with his vision for the company.He then also establishes goals for the various departments,such as the installation teams,purchasing,and so on,that will align with the corporate goals.This describes what approach to establishing goals?

Accepted Answer

A) traditional 
B) MBO 
C) entrepreneurial 
D) operational 
A) traditional 
B) MBO 
C) entrepreneurial 
D) operational

Question 4

A major strength of formal planning is that it makes an organization rigid.

Accepted Answer

A) True 
 B)False

Question 5

Organizations that don't formally plan may be more likely to have ________.

Accepted Answer

A) corrupt managers 
B) legal problems 
C) multiple departments performing the same task 
D) a single department carrying out all company functions 
A) corrupt managers 
B) legal problems 
C) multiple departments performing the same task 
D) a single department carrying out all company functions

Question 6

HomeTown Grocery has been experiencing a small but steady sales decline since Penny Pincher opened two years ago.It seems that for some items the people of Werdna prefer Penny Pincher's low prices to HomeTown's exceptional service.HomeTown's situation is concerning but is not desperate at this time.Which corporate strategy should HomeTown consider at this time?

Accepted Answer

A) renewal 
B) stability 
C) functional 
D) retrenchment 
A) renewal 
B) stability 
C) functional 
D) retrenchment

Question 7

Goals typically should be reserved for managers only.Goals should not be shared with subordinates.

Accepted Answer

A) True 
 B)False

Question 8

Planning gives organizations direction that primarily helps them ________.

Accepted Answer

A) improve teamwork and coordinate activities 
B) improve their image in the business community 
C) improve morale of middle managers 
D) improve morale of all employees 
A) improve teamwork and coordinate activities 
B) improve their image in the business community 
C) improve morale of middle managers 
D) improve morale of all employees

Question 9

You have been examining data from Statistics Canada regarding rates of charitable donation,the relationship between household income and charitable donation,and changing preferences regarding the sorts of charities Canadians prefer to support.With this information and historical donation data from the charity itself,you have constructed a model to predict donations for upcoming periods and create appropriate spending plans and budgets.Which planning tool have you been using?

Accepted Answer

A) benchmarking 
B) contingency planning 
C) scenario planning 
D) forecasting 
A) benchmarking 
B) contingency planning 
C) scenario planning 
D) forecasting

Question 10

Which of the following best defines goals?

Accepted Answer

A) likely outcomes for the future 
B) unlikely outcomes for the future 
C) desired outcomes for the future 
D) short-term targets 
A) likely outcomes for the future 
B) unlikely outcomes for the future 
C) desired outcomes for the future 
D) short-term targets

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

A six-month plan qualifies as a short-term plan.

Accepted Answer

A) True 
 B)False

Question 13

The final three steps in the strategic management process involve the creation and implementation of strategies for realizing organizational goals.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is an example of a well-designed goal for your charitable organization?

Accepted Answer

A) Our charity will continue to grow in the next five years. 
B) We will hire three more full-time employees in the next year. 
C) Donations to our charity will increase 3% each year for the next five years. 
D) Volunteers will continue to secure donations at the current rate. 
A) Our charity will continue to grow in the next five years. 
B) We will hire three more full-time employees in the next year. 
C) Donations to our charity will increase 3% each year for the next five years. 
D) Volunteers will continue to secure donations at the current rate.

Question 15

An external analysis,the third step of the strategic management process,helps identify ________.

Accepted Answer

A) the products that a company makes 
B) the long-term goals for a company 
C) a company's opportunities and threats 
D) a company's concern for its employees 
A) the products that a company makes 
B) the long-term goals for a company 
C) a company's opportunities and threats 
D) a company's concern for its employees

Question 16

Up to now your success has been based on selling high-quality tacos and burritos at a price that others can't match.Your business is pursuing which of Porter's strategies?

Accepted Answer

A) differentiation strategy 
B) cost leadership strategy 
C) competitive advantage strategy 
D) focus strategy 
A) differentiation strategy 
B) cost leadership strategy 
C) competitive advantage strategy 
D) focus strategy

Question 17

Which of the following best defines plans?

Accepted Answer

A) documents that identify company problems 
B) documents that define goals 
C) documents that describe how goals will be met 
D) documents that identify how goals from the past were met 
A) documents that identify company problems 
B) documents that define goals 
C) documents that describe how goals will be met 
D) documents that identify how goals from the past were met

Question 18

A major argument against formal plans is that they can't replace intuition and creativity.

Accepted Answer

A) True 
 B)False

Question 19

The Window Doctor has realized steady success for over 20 years.The owner is content with the size of his business and is looking to maintain its steady course for the next five years.Which corporate strategy is demonstrated by The Window Doctor?

Accepted Answer

A) stability 
B) retrenchment 
C) concentration 
D) focus 
A) stability 
B) retrenchment 
C) concentration 
D) focus

Question 20

In the twenty-first century,managers increasingly need to consider their plans as ________.

Accepted Answer

A) highly explicit recipes that must be scrupulously followed 
B) a vague philosophy that should not interfere with actions 
C) flexible road maps with destinations that may change 
D) rigid road maps with a single destination 
A) highly explicit recipes that must be scrupulously followed 
B) a vague philosophy that should not interfere with actions 
C) flexible road maps with destinations that may change 
D) rigid road maps with a single destination

Innovation and super-high quality are typically the keys to a cost-leadership strategy.

In traditional goal setting,as they work their way from top management to employees,goals are likely to ________.

A major strength of formal planning is that it makes an organization rigid.

Organizations that don't formally plan may be more likely to have ________.

Goals typically should be reserved for managers only.Goals should not be shared with subordinates.

Planning gives organizations direction that primarily helps them ________.

Which of the following best defines goals?

Informal planning is ________.

A six-month plan qualifies as a short-term plan.

The final three steps in the strategic management process involve the creation and implementation of strategies for realizing organizational goals.

Which of the following is an example of a well-designed goal for your charitable organization?

An external analysis,the third step of the strategic management process,helps identify ________.

Up to now your success has been based on selling high-quality tacos and burritos at a price that others can't match.Your business is pursuing which of Porter's strategies?

Which of the following best defines plans?

A major argument against formal plans is that they can't replace intuition and creativity.

The Window Doctor has realized steady success for over 20 years.The owner is content with the size of his business and is looking to maintain its steady course for the next five years.Which corporate strategy is demonstrated by The Window Doctor?

In the twenty-first century,managers increasingly need to consider their plans as ________.

Managers and Management

Environmental Contraints on Managers

Decision Making

Organizational Structure and Design

Operations Management

Human Resource Management

Leadership

Motivating Employees

Understanding Groups and Teams

Foundations of Control

Managing Innovation and Change

Filters

Exam 3: Planning and Strategic Management

Innovation and super-high quality are typically the keys to a cost-leadership strategy.

In traditional goal setting,as they work their way from top management to employees,goals are likely to ________.

A major strength of formal planning is that it makes an organization rigid.

Organizations that don't formally plan may be more likely to have ________.

Goals typically should be reserved for managers only.Goals should not be shared with subordinates.

Planning gives organizations direction that primarily helps them ________.

Which of the following best defines goals?

Informal planning is ________.

A six-month plan qualifies as a short-term plan.

The final three steps in the strategic management process involve the creation and implementation of strategies for realizing organizational goals.

Which of the following is an example of a well-designed goal for your charitable organization?

An external analysis,the third step of the strategic management process,helps identify ________.

Up to now your success has been based on selling high-quality tacos and burritos at a price that others can't match.Your business is pursuing which of Porter's strategies?

Which of the following best defines plans?

A major argument against formal plans is that they can't replace intuition and creativity.

The Window Doctor has realized steady success for over 20 years.The owner is content with the size of his business and is looking to maintain its steady course for the next five years.Which corporate strategy is demonstrated by The Window Doctor?

In the twenty-first century,managers increasingly need to consider their plans as ________.

Managers and Management

Environmental Contraints on Managers

Decision Making

Organizational Structure and Design

Operations Management

Human Resource Management

Leadership

Motivating Employees

Understanding Groups and Teams

Foundations of Control

Managing Innovation and Change

Filters