Exam 3: Planning and Strategic Management

Which of the following would be an example of complementors?

In management by objectives (MBO),goals ________.

Your institution has a global reputation for excellence in both research and undergraduate teaching.This would be considered ________ in your SWOT analysis.

Which of the following might increase the competitive advantage for a high-prestige,premium coffee franchise like Starbucks?

A cost leadership competitive strategy focuses on which of the following?

One effect of planning on managers is that it forces them to ________.

A mission statement for a kayak manufacturer might be "To make the highest-quality kayaks and sell them at a competitive price."

A diversified corporation is likely to have ________.

A company with a stability strategy will plan to dramatically increase market share in a highly competitive market.

When Google purchased YouTube,a company that featured different but related products,Google was engaging in which of the following?

A major strength of formal planning is that it generally correlates with higher profits.

Formal planning can increase creativity in an organization.

The representative of the Information Technology department reports that the vast majority of the computers in the school's computer labs are over 10 years old and are in desperate need of upgrades.This would be considered ________ in your SWOT analysis.

The board of directors expects your management efforts to increase the rate of growth for the charity.Consider the organizational strategies listed here.Which of the following would be a growth strategy for the charity?

The strategic planning team for HomeTown Grocery was meeting to address the small but steady sales decline the store had experienced in the two years since Penny Pincher opened.The members began discussing possible changes to the company's current strategy when one of the managers argued,"We have been successfully using service as a differentiation strategy for 20 years.This plan has served us well and we should continue with it as we intended." Which criticism of strategic planning is this team experiencing?

A company's competitive weapon is any product,service,or other attribute it has that ________.

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

Research indicates that organizations that don't use formal planning always outperform organizations that do use formal planning.

Planning is concerned with ________.

The population in Canada is aging,and each year fewer and fewer students graduate from high school and look to attend college/university.This would be considered ________ in your SWOT analysis.