Question 1

Jerome's company asks him to recommend a method of international expansion that would incur the least amount of risk. Which method should he suggest?

Accepted Answer

A) exporting 
B) franchising 
C) licensing 
D) wholly owned subsidiary 
E) joint venture 
A) exporting 
B) franchising 
C) licensing 
D) wholly owned subsidiary 
E) joint venture

Question 2

________ is allowing a foreign organization to take charge of manufacturing and distributing a product in its country or world region in return for a negotiated fee.

Accepted Answer

A) Licensing 
B) Franchising 
C) Strategic alliance 
D) Exporting 
E) Importing 
A) Licensing 
B) Franchising 
C) Strategic alliance 
D) Exporting 
E) Importing

Question 3

To maintain profits while offering the best industry pricing to customers, a furniture company decides to order materials in larger quantities to realize larger discounts on materials. The company is employing a ________ strategy.

Accepted Answer

A) focused differentiation 
B) low-cost 
C) high-cost 
D) unifying 
E) hypercompetition 
A) focused differentiation 
B) low-cost 
C) high-cost 
D) unifying 
E) hypercompetition

Question 4

In order to cater to local tastes and culinary traditions, a well-known restaurant chain offers customized versions of its menu in different countries. This is an example of a(n)________ strategy.

Accepted Answer

A) international 
B) global 
C) multidomestic 
D) low-cost 
E) unrelated diversification 
A) international 
B) global 
C) multidomestic 
D) low-cost 
E) unrelated diversification

Question 5

A winery decides to manufacture its own bottles rather than purchase them from a bottle manufacturing company in order to reduce costs. The winery is employing a forward vertical integration strategy.

Accepted Answer

A) True 
 B)False

Question 6

José is launching a management consulting business. What three steps would you recommend to José as he embarks on business planning?

Accepted Answer

Business planning involves (1)determinin

Question 7

One of the principal tasks of management is identifying and selecting appropriate goals and courses of action. This is referred to as

Accepted Answer

A) resourcing. 
B) allocating. 
C) planning. 
D) implementing. 
E) organizing. 
A) resourcing. 
B) allocating. 
C) planning. 
D) implementing. 
E) organizing.

Question 8

When situations occur repeatedly, organizations can develop ________ plans to outline policies, rules, and standard operating procedures (SOPs)on how to handle those situations.

Accepted Answer

A) single-use 
B) functional 
C) rolling 
D) standing 
E) scenario 
A) single-use 
B) functional 
C) rolling 
D) standing 
E) scenario

Question 9

When pursuing both a low-cost and differentiation strategy,

Accepted Answer

A) organizations tend to have higher levels of performance. 
B) a greater focus on differentiation will result in reduced costs. 
C) managers are likely to get stuck in the middle. 
D) a greater focus on low-cost will lead to more innovation. 
E) organizations should focus on both equally. 
A) organizations tend to have higher levels of performance. 
B) a greater focus on differentiation will result in reduced costs. 
C) managers are likely to get stuck in the middle. 
D) a greater focus on low-cost will lead to more innovation. 
E) organizations should focus on both equally.

Question 10

A ________ plan is generally reviewed and amended in conjunction with a company's annual financial budget cycles to take into account changing conditions in the external business environment.

Accepted Answer

A) standing 
B) short-term 
C) rolling 
D) contingency 
E) single-use 
A) standing 
B) short-term 
C) rolling 
D) contingency 
E) single-use

Question 11

The plastics division managers of a packaging company develops a ________ strategy to outline how it will compete against competitors.

Accepted Answer

A) corporate-level 
B) business-level 
C) functional-level 
D) departmental-level 
E) international-level 
A) corporate-level 
B) business-level 
C) functional-level 
D) departmental-level 
E) international-level

Question 12

Eastern Region Vice President Goodall works with her team of sales managers to develop a ________ plan, which defines the strategies, goals, and structure associated with achieving the company's objectives in the Eastern region of the United States.

Accepted Answer

A) business-level 
B) corporate-level 
C) functional-level 
D) departmental-level 
E) global-level 
A) business-level 
B) corporate-level 
C) functional-level 
D) departmental-level 
E) global-level

Question 13

In order to pool or share resources and know-how with a foreign company and subsequently share the rewards and risks of starting a new venture in a foreign country, an organization would pursue a

Accepted Answer

A) corporate takeover. 
B) franchising agreement. 
C) licensing agreement. 
D) strategic alliance. 
E) foreign subsidiary. 
A) corporate takeover. 
B) franchising agreement. 
C) licensing agreement. 
D) strategic alliance. 
E) foreign subsidiary.

Question 14

Define the three levels of planning and their respective strategies. Give an example of a strategy that can be applied at each level.

Accepted Answer

The corporate-level plan contains top ma

Question 15

A functional-level plan establishes the goals that the managers of each function will pursue to help the division attain its ________ goals, which then allow achievement of ________ goals.

Accepted Answer

A) departmental-level; functional-level 
B) business-level; departmental-level 
C) departmental-level; divisional-level 
D) business-level; corporate-level 
E) functional-level; corporate-level 
A) departmental-level; functional-level 
B) business-level; departmental-level 
C) departmental-level; divisional-level 
D) business-level; corporate-level 
E) functional-level; corporate-level

Question 16

Sweet Style sells baby clothes in sizes for infants and children. They offer the lowest prices of any baby clothing retailer in the major cities along the East Coast. Sweet Style is following a focused low-cost strategy.

Accepted Answer

A) True 
 B)False

Question 17

A consumer electronics company and a telecommunications company establish a new company to jointly manufacture a new line of mobile phones. This is an example of a(n)

Accepted Answer

A) joint venture. 
B) acquisition. 
C) wholly owned subsidiary. 
D) merger. 
E) hostile takeover. 
A) joint venture. 
B) acquisition. 
C) wholly owned subsidiary. 
D) merger. 
E) hostile takeover.

Question 18

List the five steps involved in implementing an organizational strategy and explain why these steps are important for managers.

Accepted Answer

The five steps are:
1. Allocate responsi

Question 19

What is a SWOT analysis? What might a SWOT analysis of your educational institution reveal?

Accepted Answer

SWOT analysis is a planning exercise in

Question 20

Cozy Threads, a clothing retailer, recently expanded its business by purchasing a regional airline. This business expansion is an example of

Accepted Answer

A) vertical integration. 
B) unrelated diversification. 
C) related diversification. 
D) horizontal integration. 
E) synergy. 
A) vertical integration. 
B) unrelated diversification. 
C) related diversification. 
D) horizontal integration. 
E) synergy.

Jerome's company asks him to recommend a method of international expansion that would incur the least amount of risk. Which method should he suggest?

________ is allowing a foreign organization to take charge of manufacturing and distributing a product in its country or world region in return for a negotiated fee.

To maintain profits while offering the best industry pricing to customers, a furniture company decides to order materials in larger quantities to realize larger discounts on materials. The company is employing a ________ strategy.

In order to cater to local tastes and culinary traditions, a well-known restaurant chain offers customized versions of its menu in different countries. This is an example of a(n)________ strategy.

A winery decides to manufacture its own bottles rather than purchase them from a bottle manufacturing company in order to reduce costs. The winery is employing a forward vertical integration strategy.

José is launching a management consulting business. What three steps would you recommend to José as he embarks on business planning?

One of the principal tasks of management is identifying and selecting appropriate goals and courses of action. This is referred to as

When situations occur repeatedly, organizations can develop ________ plans to outline policies, rules, and standard operating procedures (SOPs)on how to handle those situations.

When pursuing both a low-cost and differentiation strategy,

A ________ plan is generally reviewed and amended in conjunction with a company's annual financial budget cycles to take into account changing conditions in the external business environment.

The plastics division managers of a packaging company develops a ________ strategy to outline how it will compete against competitors.

Eastern Region Vice President Goodall works with her team of sales managers to develop a ________ plan, which defines the strategies, goals, and structure associated with achieving the company's objectives in the Eastern region of the United States.

In order to pool or share resources and know-how with a foreign company and subsequently share the rewards and risks of starting a new venture in a foreign country, an organization would pursue a

Define the three levels of planning and their respective strategies. Give an example of a strategy that can be applied at each level.

A functional-level plan establishes the goals that the managers of each function will pursue to help the division attain its goals, which then allow achievement of goals.

Sweet Style sells baby clothes in sizes for infants and children. They offer the lowest prices of any baby clothing retailer in the major cities along the East Coast. Sweet Style is following a focused low-cost strategy.

A consumer electronics company and a telecommunications company establish a new company to jointly manufacture a new line of mobile phones. This is an example of a(n)

List the five steps involved in implementing an organizational strategy and explain why these steps are important for managers.

What is a SWOT analysis? What might a SWOT analysis of your educational institution reveal?

Cozy Threads, a clothing retailer, recently expanded its business by purchasing a regional airline. This business expansion is an example of

Managers and Managing

The Evolution of Management Thought

Values Attitudes, Emotions, and Culture: the Manager As a Person

Ethics and Social Responsibility

Managing Diverse Employees in a Multicultural Environment

Managing in the Global Environment

Decision Making, Learning, Creativity, and Entrepreneurship

Value Chain Management Functional Strategies for Competitive Advantage

Managing Organizational Structure and Culture

Organizational Control and Change

Human Resource Management

Motivation and Performance

Leadership

Effective Groups and Teams

Promoting Effective Communication

Managing Conflict, Politics, and Negotiation

Using Advanced Information Technology to Increase Performance

Filters

Exam 8: The Manager As a Planner and Strategist

Jerome's company asks him to recommend a method of international expansion that would incur the least amount of risk. Which method should he suggest?

________ is allowing a foreign organization to take charge of manufacturing and distributing a product in its country or world region in return for a negotiated fee.

To maintain profits while offering the best industry pricing to customers, a furniture company decides to order materials in larger quantities to realize larger discounts on materials. The company is employing a ________ strategy.

In order to cater to local tastes and culinary traditions, a well-known restaurant chain offers customized versions of its menu in different countries. This is an example of a(n)________ strategy.

A winery decides to manufacture its own bottles rather than purchase them from a bottle manufacturing company in order to reduce costs. The winery is employing a forward vertical integration strategy.

José is launching a management consulting business. What three steps would you recommend to José as he embarks on business planning?

One of the principal tasks of management is identifying and selecting appropriate goals and courses of action. This is referred to as

When situations occur repeatedly, organizations can develop ________ plans to outline policies, rules, and standard operating procedures (SOPs)on how to handle those situations.

When pursuing both a low-cost and differentiation strategy,

A ________ plan is generally reviewed and amended in conjunction with a company's annual financial budget cycles to take into account changing conditions in the external business environment.

The plastics division managers of a packaging company develops a ________ strategy to outline how it will compete against competitors.

Eastern Region Vice President Goodall works with her team of sales managers to develop a ________ plan, which defines the strategies, goals, and structure associated with achieving the company's objectives in the Eastern region of the United States.

In order to pool or share resources and know-how with a foreign company and subsequently share the rewards and risks of starting a new venture in a foreign country, an organization would pursue a

Define the three levels of planning and their respective strategies. Give an example of a strategy that can be applied at each level.

A functional-level plan establishes the goals that the managers of each function will pursue to help the division attain its ________ goals, which then allow achievement of ________ goals.

Sweet Style sells baby clothes in sizes for infants and children. They offer the lowest prices of any baby clothing retailer in the major cities along the East Coast. Sweet Style is following a focused low-cost strategy.

A consumer electronics company and a telecommunications company establish a new company to jointly manufacture a new line of mobile phones. This is an example of a(n)

List the five steps involved in implementing an organizational strategy and explain why these steps are important for managers.

What is a SWOT analysis? What might a SWOT analysis of your educational institution reveal?

Cozy Threads, a clothing retailer, recently expanded its business by purchasing a regional airline. This business expansion is an example of

Managers and Managing

The Evolution of Management Thought

Values Attitudes, Emotions, and Culture: the Manager As a Person

Ethics and Social Responsibility

Managing Diverse Employees in a Multicultural Environment

Managing in the Global Environment

Decision Making, Learning, Creativity, and Entrepreneurship

Value Chain Management Functional Strategies for Competitive Advantage

Managing Organizational Structure and Culture

Organizational Control and Change

Human Resource Management

Motivation and Performance

Leadership

Effective Groups and Teams

Promoting Effective Communication

Managing Conflict, Politics, and Negotiation

Using Advanced Information Technology to Increase Performance

Filters

A functional-level plan establishes the goals that the managers of each function will pursue to help the division attain its goals, which then allow achievement of goals.