Exam 7: Foundations of Planning

Tactical plans are operational plans that identify ________.

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

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

Informal planning is ________.

Which goal-setting sequence is correct for the following steps? 1. Evaluate resources. 2) Identify goals. 3) Review the mission and job tasks. 4) Communicate goals. 5) Link rewards to goals. 6) Build feedback mechanisms.

SWOT analysis includes the identification of an organization's strengths, weaknesses, opportunities, and threats.

Core competencies include an organization's major capabilities and its resources.

In a short essay, discuss Porter's differentiation strategy.

Which of the following makes up the three main types of corporate strategies?

Informal planning typically works better in large organizations.

At some point, all managers create formal plans.

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

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

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

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

Which of the following is NOT a function of planning?

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

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

To address limited, short-term problems, a company is most likely to employ a ________ strategy.

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