Question 1

Managers use scenario planning to generate different future scenarios of conditions in the environment.

Accepted Answer

A) True 
 B)False

Question 2

Henri Fayol said that effective plans have five qualities.

Accepted Answer

A) True 
 B)False

Question 3

In most organizations,planning is a five-step process.Identify the five steps and discuss them in the context of a realistic business problem of your choosing.

Accepted Answer

Student answers will vary with the busin

Question 4

The letter "O" in the SWOT acronym stands for "obligation."

Accepted Answer

A) True 
 B)False

Question 5

A goal is a broad declaration of the organization and/or a statement of its dreams for the future.

Accepted Answer

A) True 
 B)False

Question 6

A cost-leadership strategy is a business-level strategy that serves many market segments.

Accepted Answer

A) True 
 B)False

Question 7

Discuss the levels of managers responsible for various types of plans.

Accepted Answer

Top-level managers are responsible for p

Question 8

How does vision differ from other forms of organizational direction setting?

Accepted Answer

The four qualities of effective plans ar

Question 9

An SOP is a written instruction describing the exact series of actions that should be followed in a specific situation.

Accepted Answer

A) True 
 B)False

Question 10

A plan that indicates in which industries and national markets an organization intends to compete is known as:

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 11

A(n)________ is a plan that is updated and amended every year and takes account of changing conditions in the external environment.

Accepted Answer

A) corporate plan 
B) long-term plan 
C) rolling plan 
D) intermediate plan 
E) divisional plan 
A) corporate plan 
B) long-term plan 
C) rolling plan 
D) intermediate plan 
E) divisional plan

Question 12

Differentiation tends to increase the costs of products which can be recouped by charging higher prices.

Accepted Answer

A) True 
 B)False

Question 13

"To reduce costs in all departments below that of rival competitors." - This statement is an example of a business-level strategy.

Accepted Answer

A) True 
 B)False

Question 14

Evaluating strategy involves which of the following?

Accepted Answer

A) Monitoring progress 
B) Evaluating performance levels 
C) Comparing performance against goals 
D) Making corrections if the strategy is not achieving the mission and goals 
E) All of these choices are part of evaluating strategy 
A) Monitoring progress 
B) Evaluating performance levels 
C) Comparing performance against goals 
D) Making corrections if the strategy is not achieving the mission and goals 
E) All of these choices are part of evaluating strategy

Question 15

In order to write a concise statement of the organization's mission,a manager must first answer the question: "What business are we in and what business should we be in?" Discuss the three question areas that must be answered by a manager in order to define the organization's business,and write a mission statement.

Accepted Answer

The manager needs to define the customer

Question 16

Which aspect of planning is emphasized when it is said that managers need to make every attempt to collect and utilize all available information at their disposal?

Accepted Answer

A) Unity 
B) Continuity 
C) Accuracy 
D) Flexibility 
E) Vertical integration 
A) Unity 
B) Continuity 
C) Accuracy 
D) Flexibility 
E) Vertical integration

Question 17

A plan that indicates the actions that managers intend to take at departmental levels such as marketing and R&D in order to allow the organization to attain its goals is known as a:

Accepted Answer

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

Question 18

Departments such as sales and marketing formulate business-level strategies.

Accepted Answer

A) True 
 B)False

Question 19

The strategy in which managers try to gain a competitive advantage by focusing the energy of all the organization's departments or functions on driving the organization's costs down below the costs of its rivals is called:

Accepted Answer

A) Concentration on a single industry 
B) Diversification 
C) Cost leadership 
D) International expansion 
E) Vertical integration 
A) Concentration on a single industry 
B) Diversification 
C) Cost leadership 
D) International expansion 
E) Vertical integration

Question 20

Attaining superior quality products and services is a way of gaining a competitive advantage in a particular market or industry.

Accepted Answer

A) True 
 B)False

Managers use scenario planning to generate different future scenarios of conditions in the environment.

Henri Fayol said that effective plans have five qualities.

In most organizations,planning is a five-step process.Identify the five steps and discuss them in the context of a realistic business problem of your choosing.

The letter "O" in the SWOT acronym stands for "obligation."

A goal is a broad declaration of the organization and/or a statement of its dreams for the future.

A cost-leadership strategy is a business-level strategy that serves many market segments.

Discuss the levels of managers responsible for various types of plans.

How does vision differ from other forms of organizational direction setting?

An SOP is a written instruction describing the exact series of actions that should be followed in a specific situation.

A plan that indicates in which industries and national markets an organization intends to compete is known as:

A(n)________ is a plan that is updated and amended every year and takes account of changing conditions in the external environment.

Differentiation tends to increase the costs of products which can be recouped by charging higher prices.

"To reduce costs in all departments below that of rival competitors." - This statement is an example of a business-level strategy.

Evaluating strategy involves which of the following?

Which aspect of planning is emphasized when it is said that managers need to make every attempt to collect and utilize all available information at their disposal?

A plan that indicates the actions that managers intend to take at departmental levels such as marketing and R&D in order to allow the organization to attain its goals is known as a:

Departments such as sales and marketing formulate business-level strategies.

The strategy in which managers try to gain a competitive advantage by focusing the energy of all the organization's departments or functions on driving the organization's costs down below the costs of its rivals is called:

Attaining superior quality products and services is a way of gaining a competitive advantage in a particular market or industry.

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

Managers use scenario planning to generate different future scenarios of conditions in the environment.

Henri Fayol said that effective plans have five qualities.

In most organizations,planning is a five-step process.Identify the five steps and discuss them in the context of a realistic business problem of your choosing.

The letter "O" in the SWOT acronym stands for "obligation."

A goal is a broad declaration of the organization and/or a statement of its dreams for the future.

A cost-leadership strategy is a business-level strategy that serves many market segments.

Discuss the levels of managers responsible for various types of plans.

How does vision differ from other forms of organizational direction setting?

An SOP is a written instruction describing the exact series of actions that should be followed in a specific situation.

A plan that indicates in which industries and national markets an organization intends to compete is known as:

A(n)________ is a plan that is updated and amended every year and takes account of changing conditions in the external environment.

Differentiation tends to increase the costs of products which can be recouped by charging higher prices.

"To reduce costs in all departments below that of rival competitors." - This statement is an example of a business-level strategy.

Evaluating strategy involves which of the following?

Which aspect of planning is emphasized when it is said that managers need to make every attempt to collect and utilize all available information at their disposal?

A plan that indicates the actions that managers intend to take at departmental levels such as marketing and R&D in order to allow the organization to attain its goals is known as a:

Departments such as sales and marketing formulate business-level strategies.

The strategy in which managers try to gain a competitive advantage by focusing the energy of all the organization's departments or functions on driving the organization's costs down below the costs of its rivals is called:

Attaining superior quality products and services is a way of gaining a competitive advantage in a particular market or industry.

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