Question 1

"A distinctive edge" is a way of describing a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 2

In management by objectives (MBO), goals ________.

Accepted Answer

A)  must be easily accomplished 
B)  are jointly determined by employees and managers 
C)  are determined by top management 
D)  are developed by employees 
A)  must be easily accomplished 
B)  are jointly determined by employees and managers 
C)  are determined by top management 
D)  are developed by employees

Question 3

Competitive advantages for a high-prestige, premium coffee franchise like Starbucks are likely to include all of the following EXCEPT ________.

Accepted Answer

A)  high quality 
B)  lowest prices 
C)  well-trained employees 
D)  pleasant venues 
A)  high quality 
B)  lowest prices 
C)  well-trained employees 
D)  pleasant venues

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

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

Accepted Answer

A)  concentration 
B)  horizontal integration 
C)  vertical integration 
D)  diversification 
A)  concentration 
B)  horizontal integration 
C)  vertical integration 
D)  diversification

Question 6

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 7

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

Accepted Answer

A) True 
 B)False

Question 8

An organization's capabilities identify ________.

Accepted Answer

A)  what the organization knows 
B)  who the organization is 
C)  assets that the organization can rely on 
D)  what the organization can do 
A)  what the organization knows 
B)  who the organization is 
C)  assets that the organization can rely on 
D)  what the organization can do

Question 9

Taco Rocket (Scenario)
Imagine that you are the president of Taco Rocket, a new and successful chain of 8 Mexican fast-food restaurants. The success you have experienced in the last 5 years has you thinking of what to do with the business next. Should you expand the business at the current rate? Open new and different restaurants? What?
-For a limited time, Taco Rocket is thinking of coming out with a new Fifth Degree Burrito that is so hot it "burns a hole in the plate." Catering to the small segment of the market that likes super-hot food is an example of a ________.

Accepted Answer

A)  focus strategy 
B)  cost leader strategy 
C)  long-term strategy 
D)  differentiation strategy 
A)  focus strategy 
B)  cost leader strategy 
C)  long-term strategy 
D)  differentiation strategy

Question 10

Which of the following functional areas has become an important strategic element for companies such as Prada?

Accepted Answer

A)  customer servicer 
B)  cost control and accounting 
C)  human resources 
D)  information technology 
A)  customer servicer 
B)  cost control and accounting 
C)  human resources 
D)  information technology

Question 11

A key function of planning is to create goals.

Accepted Answer

A) True 
 B)False

Question 12

A salad dressing company that buys a large olive grove to produce olive oil is practicing which of the following?

Accepted Answer

A)  concentration 
B)  forward vertical integration 
C)  backward vertical integration 
D)  horizontal integration 
A)  concentration 
B)  forward vertical integration 
C)  backward vertical integration 
D)  horizontal integration

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

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 15

In a means-ends chain, a goal at a lower level ________.

Accepted Answer

A)  is the bridge to a goal at the next higher level 
B)  is attained only after higher level goals are fulfilled 
C)  is separate from the goal at the next higher level 
D)  is ignored if goals at higher levels are attained 
A)  is the bridge to a goal at the next higher level 
B)  is attained only after higher level goals are fulfilled 
C)  is separate from the goal at the next higher level 
D)  is ignored if goals at higher levels are attained

Question 16

Which of the following describes a company that is following a focus strategy?

Accepted Answer

A)  a software company that makes a wide variety of games and financial products 
B)  a software company that makes games for a wide audience 
C)  a software company that makes financial products for accountants, consumers, and businesses 
D)  a software company that makes financial products for accountants only 
A)  a software company that makes a wide variety of games and financial products 
B)  a software company that makes games for a wide audience 
C)  a software company that makes financial products for accountants, consumers, and businesses 
D)  a software company that makes financial products for accountants only

Question 17

In a short essay, describe the final four steps in the strategic management process.

Accepted Answer

The third step in the strategic manageme

Question 18

In addition to being made by both managers and employees, MBO goals must be ________.

Accepted Answer

A)  nonspecific and open-ended with regard to time 
B)  specific and open-ended with regard to time 
C)  specific and include an explicit time limit 
D)  nonspecific and include no time limit 
A)  nonspecific and open-ended with regard to time 
B)  specific and open-ended with regard to time 
C)  specific and include an explicit time limit 
D)  nonspecific and include no time limit

Question 19

In a short essay, compare strategic plans and tactical plans.

Accepted Answer

Strategic plans are plans that apply to

Question 20

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

"A distinctive edge" is a way of describing a competitive advantage.

In management by objectives (MBO), goals ________.

Competitive advantages for a high-prestige, premium coffee franchise like Starbucks are likely to include all of the following EXCEPT ________.

In formal planning, ________.

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

Which of the following best defines plans?

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

An organization's capabilities identify ________.

Which of the following functional areas has become an important strategic element for companies such as Prada?

A key function of planning is to create goals.

A salad dressing company that buys a large olive grove to produce olive oil is practicing which of the following?

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

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

In a means-ends chain, a goal at a lower level ________.

Which of the following describes a company that is following a focus strategy?

In a short essay, describe the final four steps in the strategic management process.

In addition to being made by both managers and employees, MBO goals must be ________.

In a short essay, compare strategic plans and tactical plans.

Planning gives organizations direction that primarily helps them ________.

Managers and Management

A History Module

The Management Environment

Integrative Managerial Issues

Foundations of Decision Making

A Quantitative Module

Organizational Structure and Design

Managing Human Resources

A Career Module

Managing Change and Innovation

Foundations of Individual Behavior

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Communication and Information

Foundations of Control

Operations Management

A Entrepreneurship Module

Filters

Exam 7: Foundations of Planning

"A distinctive edge" is a way of describing a competitive advantage.

In management by objectives (MBO), goals ________.

Competitive advantages for a high-prestige, premium coffee franchise like Starbucks are likely to include all of the following EXCEPT ________.

In formal planning, ________.

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

Which of the following best defines plans?

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

An organization's capabilities identify ________.

Which of the following functional areas has become an important strategic element for companies such as Prada?

A key function of planning is to create goals.

A salad dressing company that buys a large olive grove to produce olive oil is practicing which of the following?

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

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

In a means-ends chain, a goal at a lower level ________.

Which of the following describes a company that is following a focus strategy?

In a short essay, describe the final four steps in the strategic management process.

In addition to being made by both managers and employees, MBO goals must be ________.

In a short essay, compare strategic plans and tactical plans.

Planning gives organizations direction that primarily helps them ________.

Managers and Management

A History Module

The Management Environment

Integrative Managerial Issues

Foundations of Decision Making

A Quantitative Module

Organizational Structure and Design

Managing Human Resources

A Career Module

Managing Change and Innovation

Foundations of Individual Behavior

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Communication and Information

Foundations of Control

Operations Management

A Entrepreneurship Module

Filters