Question 1

A differentiation strategy ________.

Accepted Answer

A) usually focuses on price 
B) must focus on price 
C) can focus on a brand image 
D) can focus on value,but not service 
A) usually focuses on price 
B) must focus on price 
C) can focus on a brand image 
D) can focus on value,but not service

Question 2

A focus strategy seeks to appeal to a narrow segment of a market.

Accepted Answer

A) True 
 B)False

Question 3

Goals are documents that outline how plans are to be carried out.

Accepted Answer

A) True 
 B)False

Question 4

In formal planning,________.

Accepted Answer

A) specific goals covering a period of years are defined 
B) to maximize flexibility,specific goals are never spelled out 
C) very broad general goals are developed 
D) goals may be written or unwritten 
A) specific goals covering a period of years are defined 
B) to maximize flexibility,specific goals are never spelled out 
C) very broad general goals are developed 
D) goals may be written or unwritten

Question 5

Explain Porter's differentiation strategy.

Accepted Answer

When a company seeks to offer unique pro

Question 6

To gain a sustainable competitive advantage,a pharmaceutical company might ________.

Accepted Answer

A) market aggressively 
B) set high prices for its products 
C) secure exclusive rights to produce a drug 
D) produce as many generic drugs as possible 
A) market aggressively 
B) set high prices for its products 
C) secure exclusive rights to produce a drug 
D) produce as many generic drugs as possible

Question 7

Define planning and compare formal and informal planning as they are used in various organizations.

Accepted Answer

Planning involves defining the organizat

Question 8

List and discuss criticisms of formal planning.

Accepted Answer

One of the main arguments directed at fo

Question 9

Buying a competitor's product for evaluation is a form of environmental scanning.

Accepted Answer

A) True 
 B)False

Question 10

The first step in the strategic management process is analyzing the external environment.

Accepted Answer

A) True 
 B)False

Question 11

An internal analysis,the second step of the strategic management process,helps identify ________.

Accepted Answer

A) opportunities and threats 
B) resources and capabilities 
C) opportunities and possibilities 
D) values and philosophy 
A) opportunities and threats 
B) resources and capabilities 
C) opportunities and possibilities 
D) values and philosophy

Question 12

Informal plans are not recognized as an effective form of planning.

Accepted Answer

A) True 
 B)False

Question 13

MBO programs are usually successful largely because they ________.

Accepted Answer

A) give employees a sense of ownership of goals 
B) free managers from the responsibility of setting goals 
C) give managers a sense of ownership of goals 
D) free employees from responsibility if goals are not met 
A) give employees a sense of ownership of goals 
B) free managers from the responsibility of setting goals 
C) give managers a sense of ownership of goals 
D) free employees from responsibility if goals are not met

Question 14

The PESTEL analysis you've conducted for your institution will help you when completing your SWOT analysis.In which areas of the SWOT will information from the PESTEL be most helpful?

Accepted Answer

A) identifying strengths and weaknesses 
B) identifying opportunities and threats 
C) relating strengths to weaknesses to develop strategies 
D) relating weaknesses to threats to develop strategies 
A) identifying strengths and weaknesses 
B) identifying opportunities and threats 
C) relating strengths to weaknesses to develop strategies 
D) relating weaknesses to threats to develop strategies

Question 15

Strategic plans address ________.

Accepted Answer

A) overall organizational goals 
B) goals for a single branch of the organization 
C) how overall goals are to be achieved 
D) how a single goal is to be achieved 
A) overall organizational goals 
B) goals for a single branch of the organization 
C) how overall goals are to be achieved 
D) how a single goal is to be achieved

Question 16

Each year your charitable organization hosts a gala dinner event.The theme and keynote speakers at the event change each year to reflect current community interests.This annual event yields large donations and creates extensive community awareness.Holding this event each year is an example of what kind of plan?

Accepted Answer

A) single use 
B) strategic 
C) standing 
D) specific 
A) single use 
B) strategic 
C) standing 
D) specific

Question 17

Planning rarely improves teamwork and cooperation among employees.

Accepted Answer

A) True 
 B)False

Question 18

Of the following tasks listed,which will be your first task in the strategic planning process for this charity?

Accepted Answer

A) Complete a SWOT analysis. 
B) Review the external environment and complete a PESTEL. 
C) Formulate strategies to address growth. 
D) Define the charity's resources,capabilities,and core competencies. 
A) Complete a SWOT analysis. 
B) Review the external environment and complete a PESTEL. 
C) Formulate strategies to address growth. 
D) Define the charity's resources,capabilities,and core competencies.

Question 19

Directional plans leave no room for interpretation.

Accepted Answer

A) True 
 B)False

Question 20

Managers who fail to plan may ________.

Accepted Answer

A) take advantage of change 
B) stimulate change 
C) be positively affected by change 
D) be adversely affected by change 
A) take advantage of change 
B) stimulate change 
C) be positively affected by change 
D) be adversely affected by change

A differentiation strategy ________.

A focus strategy seeks to appeal to a narrow segment of a market.

Goals are documents that outline how plans are to be carried out.

In formal planning,________.

Explain Porter's differentiation strategy.

To gain a sustainable competitive advantage,a pharmaceutical company might ________.

Define planning and compare formal and informal planning as they are used in various organizations.

List and discuss criticisms of formal planning.

Buying a competitor's product for evaluation is a form of environmental scanning.

The first step in the strategic management process is analyzing the external environment.

An internal analysis,the second step of the strategic management process,helps identify ________.

Informal plans are not recognized as an effective form of planning.

MBO programs are usually successful largely because they ________.

The PESTEL analysis you've conducted for your institution will help you when completing your SWOT analysis.In which areas of the SWOT will information from the PESTEL be most helpful?

Strategic plans address ________.

Planning rarely improves teamwork and cooperation among employees.

Of the following tasks listed,which will be your first task in the strategic planning process for this charity?

Directional plans leave no room for interpretation.

Managers who fail to plan may ________.

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

A differentiation strategy ________.

A focus strategy seeks to appeal to a narrow segment of a market.

Goals are documents that outline how plans are to be carried out.

In formal planning,________.

Explain Porter's differentiation strategy.

To gain a sustainable competitive advantage,a pharmaceutical company might ________.

Define planning and compare formal and informal planning as they are used in various organizations.

List and discuss criticisms of formal planning.

Buying a competitor's product for evaluation is a form of environmental scanning.

The first step in the strategic management process is analyzing the external environment.

An internal analysis,the second step of the strategic management process,helps identify ________.

Informal plans are not recognized as an effective form of planning.

MBO programs are usually successful largely because they ________.

The PESTEL analysis you've conducted for your institution will help you when completing your SWOT analysis.In which areas of the SWOT will information from the PESTEL be most helpful?

Strategic plans address ________.

Planning rarely improves teamwork and cooperation among employees.

Of the following tasks listed,which will be your first task in the strategic planning process for this charity?

Directional plans leave no room for interpretation.

Managers who fail to plan may ________.

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