Question 1

A plan that indicates how a division intends to compete against its rivals in an industry is known as a:

Accepted Answer

A) corporate-level plan 
B) corporate-level strategy 
C) business-level plan 
D) business-level strategy 
E) functional-level plan 
A) corporate-level plan 
B) corporate-level strategy 
C) business-level plan 
D) business-level strategy 
E) functional-level plan

Question 2

Private label brands like President's Choice and No Name brands exemplify a differentiation strategy.

Accepted Answer

A) True 
 B)False

Question 3

Luxury car producers follow a focused-differentiation strategy.

Accepted Answer

A) True 
 B)False

Question 4

Functional-level strategies add value to the company or lower the costs of creating value.

Accepted Answer

A) True 
 B)False

Question 5

An example of adding value in the research and development department of an organization is to improve existing products.

Accepted Answer

A) True 
 B)False

Question 6

The first step of the planning process is the determination of the organization's vision,mission,and goals.

Accepted Answer

A) True 
 B)False

Question 7

All of the following are business-level strategies,except:

Accepted Answer

A) cost leadership 
B) vertical integration 
C) focused differentiation 
D) differentiation 
E) focused low-cost 
A) cost leadership 
B) vertical integration 
C) focused differentiation 
D) differentiation 
E) focused low-cost

Question 8

Implementation of strategy involves establishing a timetable that includes when goals are scheduled to be completed,such as a Gantt chart.

Accepted Answer

A) True 
 B)False

Question 9

"To unleash the power of the internet to deliver the best solutions to Canadians at home,in the workplace,and on the move" is TELUS' __________.

Accepted Answer

A) mission statement 
B) vision statement 
C) goal statement 
D) SWOT analysis 
E) corporate-level strategy 
A) mission statement 
B) vision statement 
C) goal statement 
D) SWOT analysis 
E) corporate-level strategy

Question 10

To define the business for the mission statement,managers must ask three questions:

Accepted Answer

A) Who are our customers? Where should we locate? What customer needs are being satisfied? 
B) Who are our customers? What customer needs are being satisfied? How are we satisfying customer needs? 
C) Who are our customers? What customer needs are being satisfied? What customer needs are not being satisfied? 
D) Who are our customers? Where should we locate? What customer needs are not being satisfied? 
E) Who are our competitors? Where should we locate? What customer needs are being satisfied? 
A) Who are our customers? Where should we locate? What customer needs are being satisfied? 
B) Who are our customers? What customer needs are being satisfied? How are we satisfying customer needs? 
C) Who are our customers? What customer needs are being satisfied? What customer needs are not being satisfied? 
D) Who are our customers? Where should we locate? What customer needs are not being satisfied? 
E) Who are our competitors? Where should we locate? What customer needs are being satisfied?

Question 11

Contingency planning is also known as:

Accepted Answer

A) business-level planning 
B) global planning 
C) scenario planning 
D) corporate-level planning 
E) missionary planning 
A) business-level planning 
B) global planning 
C) scenario planning 
D) corporate-level planning 
E) missionary planning

Question 12

The goal of GE lighting to reduce production costs by 20% over three years is a corporate-level goal.

Accepted Answer

A) True 
 B)False

Question 13

Explain what Michael Porter means by the expression "stuck in the middle."

Accepted Answer

According to Porter's theory,managers ca

Question 14

Discuss each of the four qualities of effective plans.

Accepted Answer

The four qualities of effective plans ar

Question 15

The goal of GE lighting to reduce production costs by 20% over three years is a functional-level goal.

Accepted Answer

A) True 
 B)False

Question 16

Michael Porter developed the Five Forces model to analyze threats and opportunities within an industry.Describe the Five Forces and provide an example to illustrate their effect on a bakery opening in an area where several bakeries already exist.

Accepted Answer

The Five Forces operating on new firms e

Question 17

Corporate and business-level goals and strategies require ________ and ________ term plans,respectively.

Accepted Answer

A) long; intermediate 
B) intermediate; intermediate 
C) long; short 
D) intermediate; long 
E) short; intermediate 
A) long; intermediate 
B) intermediate; intermediate 
C) long; short 
D) intermediate; long 
E) short; intermediate

Question 18

In contrast to plans that are developed to handle nonprogrammed decision making in unusual situations,________ are plans used in situations in which programmed decision making is appropriate.

Accepted Answer

A) single-use plans 
B) standing plans 
C) strategic plans 
D) operational plans 
E) situational plans 
A) single-use plans 
B) standing plans 
C) strategic plans 
D) operational plans 
E) situational plans

Question 19

A ________ is a desired outcome that an organization strives to achieve within a specified timeframe.

Accepted Answer

A) goal 
B) vision 
C) SWOT analysis 
D) vertical integration 
E) multi-domestic strategy 
A) goal 
B) vision 
C) SWOT analysis 
D) vertical integration 
E) multi-domestic strategy

Question 20

Analysis of an organization's current situation followed by the development of strategies to accomplish its mission and achieve its goals is known as:

Accepted Answer

A) planning 
B) strategy formulation 
C) SWOT analysis 
D) applying the Five Forces model 
E) strategizing 
A) planning 
B) strategy formulation 
C) SWOT analysis 
D) applying the Five Forces model 
E) strategizing

A plan that indicates how a division intends to compete against its rivals in an industry is known as a:

Private label brands like President's Choice and No Name brands exemplify a differentiation strategy.

Luxury car producers follow a focused-differentiation strategy.

Functional-level strategies add value to the company or lower the costs of creating value.

An example of adding value in the research and development department of an organization is to improve existing products.

The first step of the planning process is the determination of the organization's vision,mission,and goals.

All of the following are business-level strategies,except:

Implementation of strategy involves establishing a timetable that includes when goals are scheduled to be completed,such as a Gantt chart.

"To unleash the power of the internet to deliver the best solutions to Canadians at home,in the workplace,and on the move" is TELUS' __________.

To define the business for the mission statement,managers must ask three questions:

Contingency planning is also known as:

The goal of GE lighting to reduce production costs by 20% over three years is a corporate-level goal.

Explain what Michael Porter means by the expression "stuck in the middle."

Discuss each of the four qualities of effective plans.

The goal of GE lighting to reduce production costs by 20% over three years is a functional-level goal.

Michael Porter developed the Five Forces model to analyze threats and opportunities within an industry.Describe the Five Forces and provide an example to illustrate their effect on a bakery opening in an area where several bakeries already exist.

Corporate and business-level goals and strategies require and term plans,respectively.

In contrast to plans that are developed to handle nonprogrammed decision making in unusual situations,________ are plans used in situations in which programmed decision making is appropriate.

A ________ is a desired outcome that an organization strives to achieve within a specified timeframe.

Analysis of an organization's current situation followed by the development of strategies to accomplish its mission and achieve its goals is known as:

Managers and Managing

Managing the Organizational Environment

Managing Decision Making

Managing Organizational Structure

Managing Communication and Information Technology IT

Managing Human Resources

Managing Motivation

Managing Leadership

Managing Teams

Managing Control and Operations

Managing Change

Filters

Exam 4: Managing Planning and Strategy

A plan that indicates how a division intends to compete against its rivals in an industry is known as a:

Private label brands like President's Choice and No Name brands exemplify a differentiation strategy.

Luxury car producers follow a focused-differentiation strategy.

Functional-level strategies add value to the company or lower the costs of creating value.

An example of adding value in the research and development department of an organization is to improve existing products.

The first step of the planning process is the determination of the organization's vision,mission,and goals.

All of the following are business-level strategies,except:

Implementation of strategy involves establishing a timetable that includes when goals are scheduled to be completed,such as a Gantt chart.

"To unleash the power of the internet to deliver the best solutions to Canadians at home,in the workplace,and on the move" is TELUS' __________.

To define the business for the mission statement,managers must ask three questions:

Contingency planning is also known as:

The goal of GE lighting to reduce production costs by 20% over three years is a corporate-level goal.

Explain what Michael Porter means by the expression "stuck in the middle."

Discuss each of the four qualities of effective plans.

The goal of GE lighting to reduce production costs by 20% over three years is a functional-level goal.

Michael Porter developed the Five Forces model to analyze threats and opportunities within an industry.Describe the Five Forces and provide an example to illustrate their effect on a bakery opening in an area where several bakeries already exist.

Corporate and business-level goals and strategies require ________ and ________ term plans,respectively.

In contrast to plans that are developed to handle nonprogrammed decision making in unusual situations,________ are plans used in situations in which programmed decision making is appropriate.

A ________ is a desired outcome that an organization strives to achieve within a specified timeframe.

Analysis of an organization's current situation followed by the development of strategies to accomplish its mission and achieve its goals is known as:

Managers and Managing

Managing the Organizational Environment

Managing Decision Making

Managing Organizational Structure

Managing Communication and Information Technology IT

Managing Human Resources

Managing Motivation

Managing Leadership

Managing Teams

Managing Control and Operations

Managing Change

Filters

Corporate and business-level goals and strategies require and term plans,respectively.