Exam 3: Planning and Strategic Management

In general,upper-level managers focus on tactical or operational planning.

Top managers,for the most part,focus on this type of planning.

Strategic management is the act of figuring out how an organization will compete in the marketplace and attract loyal customers.

Low brand awareness is which of the following?

When the Ontario government decided to implement the HST,a new sales tax for the province,the services of The Window Doctor became subject to more sales tax.This meant that the services of the company became more expensive for its customers.In which of the six contextual factors of a PESTEL analysis would the introduction of the HST be included?

In informal planning,goals are usually ________ shared with others in the organization.

Customer service cannot be considered a strategic weapon for an organization.

A company with a differentiation strategy focuses on making its products or services ________.

All managers plan in some way,either formally or informally.

You will need the participation and support of the members of the board in order to create and implement a formal strategic plan.Precious time and resources will be dedicated to the formal planning process,but you are certain that it is important.Which of the following would be one of the purposes of planning that you could explain to the board to gain their support?

List and describe the six steps in the strategic management process.

Students from around the world are more frequently choosing to study at Canadian colleges and universities.Numerous programs are being implemented by the Canadian and foreign governments to further encourage this trend.This would be considered ________ in your SWOT analysis.

Penny Pincher demonstrates which competitive strategy?

Standing plans typically can be used ________.

Together,an organization's resources and core competencies make up which of the following?

A mission statement includes identification of an organization's ________.

General Mills expanding its line so that it sells several different types of Cheerios is an example of which of the following?

A major strength of formal planning is that it reinforces past successes and incorporates them into the future.

An organization's capabilities identify ________.

This term describes what an electric shaver company is doing when it carefully observes its competitor's production line to look for ways to improve its own manufacturing process.