Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

XYZ Corp,a hypothetical retailers of consumer goods pursues a focused differentiation strategy in that it focuses on large retail chains and strives to be the lowest-cost company serving that segment of the market.

Accepted Answer

A) True 
 B)False

Question 3

In the second step of the planning process,managers analyze the organization's current strengths and weaknesses to formulate strategy.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following qualities of an effective plan suggests that at any time only one central,guiding plan should be put into operation to achieve an organizational goal?

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 5

A company pursuing a __________ serves one or a few segments of the overall market and aims to be the lowest-cost company serving that segment.

Accepted Answer

A) Differential strategy 
B) Focused low-cost strategy 
C) Stuck-in-the-middle strategy 
D) Focused-differentiation strategy 
E) Cost-leadership strategy 
A) Differential strategy 
B) Focused low-cost strategy 
C) Stuck-in-the-middle strategy 
D) Focused-differentiation strategy 
E) Cost-leadership strategy

Question 6

Evaluating the success of the strategy involves monitoring progress,evaluating performance,and taking corrective action to make sure that the mission and goals are being achieved.

Accepted Answer

A) True 
 B)False

Question 7

Implementing strategy includes all of the following steps,except:

Accepted Answer

A) Allocating responsibility 
B) Drafting a detailed action plan 
C) Allocating appropriate resources 
D) Establishing a timetable 
E) Analyzing the environment 
A) Allocating responsibility 
B) Drafting a detailed action plan 
C) Allocating appropriate resources 
D) Establishing a timetable 
E) Analyzing the environment

Question 8

Differentiate between standing plans and single-use plans and when each is appropriate.

Accepted Answer

Standing plans are used in situations wh

Question 9

Identifying and selecting appropriate goals and courses of action is known as:

Accepted Answer

A) planning 
B) controlling 
C) learning 
D) organizing 
E) implementing 
A) planning 
B) controlling 
C) learning 
D) organizing 
E) implementing

Question 10

In the second step of the planning process,managers decide how to allocate the resources required to implement the strategies.

Accepted Answer

A) True 
 B)False

Question 11

Plans are prepared statements of intent,they cannot be altered without board approval.

Accepted Answer

A) True 
 B)False

Question 12

Corporate strategies include concentrating on a single business,diversification,international expansion,and vertical integration.

Accepted Answer

A) True 
 B)False

Question 13

Effective plans have only two qualities: unity and continuity.

Accepted Answer

A) True 
 B)False

Question 14

A rolling plan is one that is updated every year to reflect changes in the organizational environment.

Accepted Answer

A) True 
 B)False

Question 15

Strategy implementation involves three steps.

Accepted Answer

A) True 
 B)False

Question 16

A SWOT analysis stands for:

Accepted Answer

A) systems,weaknesses,opportunities,technologies 
B) systems,weaknesses,opportunities,threats 
C) strengths,weaknesses,opportunities,technologies 
D) strengths,weaknesses,opportunities,threats 
E) suitability,weaknesses,obligations,transformation 
A) systems,weaknesses,opportunities,technologies 
B) systems,weaknesses,opportunities,threats 
C) strengths,weaknesses,opportunities,technologies 
D) strengths,weaknesses,opportunities,threats 
E) suitability,weaknesses,obligations,transformation

Question 17

Two techniques managers can use to analyze the organizational environment for threats and opportunities are SWOT and Porter's Four Forces model.

Accepted Answer

A) True 
 B)False

Question 18

According to Porter,managers must choose between two basic ways of increasing the value of an organization's products: higher quality or lower costs.

Accepted Answer

A) True 
 B)False

Question 19

Discuss what is meant by a SWOT analysis and give examples using Amazon.com.

Accepted Answer

SWOT (Strengths,Weaknesses,Opportunities

Question 20

Effective plans should have all of the following features,except:

Accepted Answer

A) unity 
B) continuity 
C) flexibility 
D) accuracy 
E) divisiveness 
A) unity 
B) continuity 
C) flexibility 
D) accuracy 
E) divisiveness

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

XYZ Corp,a hypothetical retailers of consumer goods pursues a focused differentiation strategy in that it focuses on large retail chains and strives to be the lowest-cost company serving that segment of the market.

In the second step of the planning process,managers analyze the organization's current strengths and weaknesses to formulate strategy.

Which of the following qualities of an effective plan suggests that at any time only one central,guiding plan should be put into operation to achieve an organizational goal?

A company pursuing a __________ serves one or a few segments of the overall market and aims to be the lowest-cost company serving that segment.

Evaluating the success of the strategy involves monitoring progress,evaluating performance,and taking corrective action to make sure that the mission and goals are being achieved.

Implementing strategy includes all of the following steps,except:

Differentiate between standing plans and single-use plans and when each is appropriate.

Identifying and selecting appropriate goals and courses of action is known as:

In the second step of the planning process,managers decide how to allocate the resources required to implement the strategies.

Plans are prepared statements of intent,they cannot be altered without board approval.

Corporate strategies include concentrating on a single business,diversification,international expansion,and vertical integration.

Effective plans have only two qualities: unity and continuity.

A rolling plan is one that is updated every year to reflect changes in the organizational environment.

Strategy implementation involves three steps.

A SWOT analysis stands for:

Two techniques managers can use to analyze the organizational environment for threats and opportunities are SWOT and Porter's Four Forces model.

According to Porter,managers must choose between two basic ways of increasing the value of an organization's products: higher quality or lower costs.

Discuss what is meant by a SWOT analysis and give examples using Amazon.com.

Effective plans should have all of the following features,except:

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

XYZ Corp,a hypothetical retailers of consumer goods pursues a focused differentiation strategy in that it focuses on large retail chains and strives to be the lowest-cost company serving that segment of the market.

In the second step of the planning process,managers analyze the organization's current strengths and weaknesses to formulate strategy.

Which of the following qualities of an effective plan suggests that at any time only one central,guiding plan should be put into operation to achieve an organizational goal?

A company pursuing a __________ serves one or a few segments of the overall market and aims to be the lowest-cost company serving that segment.

Evaluating the success of the strategy involves monitoring progress,evaluating performance,and taking corrective action to make sure that the mission and goals are being achieved.

Implementing strategy includes all of the following steps,except:

Differentiate between standing plans and single-use plans and when each is appropriate.

Identifying and selecting appropriate goals and courses of action is known as:

In the second step of the planning process,managers decide how to allocate the resources required to implement the strategies.

Plans are prepared statements of intent,they cannot be altered without board approval.

Corporate strategies include concentrating on a single business,diversification,international expansion,and vertical integration.

Effective plans have only two qualities: unity and continuity.

A rolling plan is one that is updated every year to reflect changes in the organizational environment.

Strategy implementation involves three steps.

A SWOT analysis stands for:

Two techniques managers can use to analyze the organizational environment for threats and opportunities are SWOT and Porter's Four Forces model.

According to Porter,managers must choose between two basic ways of increasing the value of an organization's products: higher quality or lower costs.

Discuss what is meant by a SWOT analysis and give examples using Amazon.com.

Effective plans should have all of the following features,except:

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