Question 1

An external analysis will identify the threats to a company's well-being,but not opportunities for success.

Accepted Answer

A) True 
 B)False

Question 2

Planning gives organizations a way to deal with change that ________.

Accepted Answer

A) eliminates all uncertainty 
B) reduces uncertainty 
C) reduces certainty 
D) increases ambiguity 
A) eliminates all uncertainty 
B) reduces uncertainty 
C) reduces certainty 
D) increases ambiguity

Question 3

Which of the following defines the time frame of a long-term plan?

Accepted Answer

A) over seven years 
B) over three years 
C) under three years 
D) over one year 
A) over seven years 
B) over three years 
C) under three years 
D) over one year

Question 4

An organization's resources identify ________.

Accepted Answer

A) how the organization gets things done 
B) where the organization operates 
C) when the organization operates 
D) what the organization has 
A) how the organization gets things done 
B) where the organization operates 
C) when the organization operates 
D) what the organization has

Question 5

Define and discuss management by objectives (MBO).Compare it to traditional goal planning.

Accepted Answer

Management by objectives (MBO)is a syste

Question 6

Managers who make formal plans are more likely to help an organization "break the mould" and carry out truly groundbreaking work that redefines an entire industry.

Accepted Answer

A) True 
 B)False

Question 7

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 suggested,"Let's cut back on some of the extra,more expensive services we offer and then we can lower prices to compete with Penny Pincher." By being more like their competitors HomeTown's competitive strategy could become ________.

Accepted Answer

A) stuck in the middle 
B) differentiated 
C) functional 
D) focused 
A) stuck in the middle 
B) differentiated 
C) functional 
D) focused

Question 8

An organization that fails to plan will find it hard to assess progress.

Accepted Answer

A) True 
 B)False

Question 9

A diversification strategy focuses on a company becoming its own supplier of inputs.

Accepted Answer

A) True 
 B)False

Question 10

Once SWOT analysis is complete,managers ________ to address the issues that came up during the analysis.

Accepted Answer

A) formulate strategies 
B) implement strategies 
C) evaluate strategies 
D) eliminate strategies 
A) formulate strategies 
B) implement strategies 
C) evaluate strategies 
D) eliminate strategies

Question 11

The more uncertain a situation is,the more ________ plans must be.

Accepted Answer

A) unspecific 
B) long term 
C) flexible 
D) short term 
A) unspecific 
B) long term 
C) flexible 
D) short term

Question 12

A company whose goal is to retain its ideal size and market share is employing which kind of strategy?

Accepted Answer

A) noncorporate 
B) growth 
C) renewal 
D) stability 
A) noncorporate 
B) growth 
C) renewal 
D) stability

Question 13

The three different types of strategies that managers implement are ________.

Accepted Answer

A) corporate,private,functional 
B) corporate,business,functional 
C) long-term,short-term,public 
D) competitive,non-competitive,corporate 
A) corporate,private,functional 
B) corporate,business,functional 
C) long-term,short-term,public 
D) competitive,non-competitive,corporate

Question 14

The first three steps of the strategic management process involve ________ strategies.

Accepted Answer

A) planning 
B) implementing 
C) evaluating 
D) identifying 
A) planning 
B) implementing 
C) evaluating 
D) identifying

Question 15

An organization's real goals and priorities are best revealed by ________.

Accepted Answer

A) its official stated goals 
B) its actions in the marketplace 
C) its statements to the press 
D) its mission statement 
A) its official stated goals 
B) its actions in the marketplace 
C) its statements to the press 
D) its mission statement

Question 16

Your current strategies have brought Taco Rocket success,but a stability strategy is not what you intend.Before you decide what to change you will need to understand what aspects of your plans and strategies have been working and what aspects need further improvement.At which stage of the strategic planning process will you learn this?

Accepted Answer

A) Step 6: Evaluate strategies 
B) Step 4: Implement strategies 
C) Step 3: External analysis 
D) Step 5: Implement strategies 
A) Step 6: Evaluate strategies 
B) Step 4: Implement strategies 
C) Step 3: External analysis 
D) Step 5: Implement strategies

Question 17

Planning provides direction to managers and nonmanagers alike.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is a frequently cited criticism of formal planning?

Accepted Answer

A) Plans lock organizations into rigid goals and timetables. 
B) Plans take too long to create. 
C) Plans create resentment within different levels of the organization. 
D) Formal planning works well only for smaller companies. 
A) Plans lock organizations into rigid goals and timetables. 
B) Plans take too long to create. 
C) Plans create resentment within different levels of the organization. 
D) Formal planning works well only for smaller companies.

Question 19

Remedies that all renewal strategies employ include which of the following?

Accepted Answer

A) hiring efficiency experts 
B) launching new ad campaigns 
C) emulating competitors 
D) cutting costs 
A) hiring efficiency experts 
B) launching new ad campaigns 
C) emulating competitors 
D) cutting costs

Question 20

The first step in the six-step strategic management process is to ________.

Accepted Answer

A) analyze the organization's strengths and weaknesses 
B) identify the organization's mission 
C) identify strategies to reach the organization's goals 
D) analyze the opportunities the organization has 
A) analyze the organization's strengths and weaknesses 
B) identify the organization's mission 
C) identify strategies to reach the organization's goals 
D) analyze the opportunities the organization has

An external analysis will identify the threats to a company's well-being,but not opportunities for success.

Planning gives organizations a way to deal with change that ________.

Which of the following defines the time frame of a long-term plan?

An organization's resources identify ________.

Define and discuss management by objectives (MBO).Compare it to traditional goal planning.

Managers who make formal plans are more likely to help an organization "break the mould" and carry out truly groundbreaking work that redefines an entire industry.

An organization that fails to plan will find it hard to assess progress.

A diversification strategy focuses on a company becoming its own supplier of inputs.

Once SWOT analysis is complete,managers ________ to address the issues that came up during the analysis.

The more uncertain a situation is,the more ________ plans must be.

A company whose goal is to retain its ideal size and market share is employing which kind of strategy?

The three different types of strategies that managers implement are ________.

The first three steps of the strategic management process involve ________ strategies.

An organization's real goals and priorities are best revealed by ________.

Planning provides direction to managers and nonmanagers alike.

Which of the following is a frequently cited criticism of formal planning?

Remedies that all renewal strategies employ include which of the following?

The first step in the six-step strategic management process is to ________.

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

An external analysis will identify the threats to a company's well-being,but not opportunities for success.

Planning gives organizations a way to deal with change that ________.

Which of the following defines the time frame of a long-term plan?

An organization's resources identify ________.

Define and discuss management by objectives (MBO).Compare it to traditional goal planning.

Managers who make formal plans are more likely to help an organization "break the mould" and carry out truly groundbreaking work that redefines an entire industry.

An organization that fails to plan will find it hard to assess progress.

A diversification strategy focuses on a company becoming its own supplier of inputs.

Once SWOT analysis is complete,managers ________ to address the issues that came up during the analysis.

The more uncertain a situation is,the more ________ plans must be.

A company whose goal is to retain its ideal size and market share is employing which kind of strategy?

The three different types of strategies that managers implement are ________.

The first three steps of the strategic management process involve ________ strategies.

An organization's real goals and priorities are best revealed by ________.

Planning provides direction to managers and nonmanagers alike.

Which of the following is a frequently cited criticism of formal planning?

Remedies that all renewal strategies employ include which of the following?

The first step in the six-step strategic management process is to ________.

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