Exam 3: Foundations of Planning

Krispy Kreme has a distribution network that allows fresh doughnuts to be transported to convenience stores, and supermarkets. Krispy Kreme outlets before dawn so that consumers can enjoy them. This is a unique source of competitive advantage for Krispy Kreme known as a(n)___________ .

The evidence suggests organizations should have formal plans.

Reducing the size, scope or number operational units usually in a declining environment is known as reengineering.

Tim's Company is analyzing the technology that allows it to produce wireless communication equipment for less money. This technological breakthrough for Tim's Company is which of the following?

Reducing the size, scope or number of operational units usually in a declining environment is known as a retrenchment strategy.

Application of Porter's Competitive Strategy Stacie sighed. Her general manager had just left after giving her the latest assignment- readdress the competitive advantage of their company. By Friday's meeting, Stacie was to have developed three differing strategies the business could use in order to maintain its competitive advantage. Its computer business was slowly losing market share to its competitors, and everyone realized something needed to be done. Stacie glanced through the article by Michael Porter that her manager had left with her. According to Porter, there were three differing types of strategies they could choose from. Stacie began wondering if there was a way they could make their computers cheaper, which would allow them to then sell at a lower price. If they could reduce price by $100 a machine, they would be the industry leaders in price. Stacie wondered if they could find any lower- priced suppliers for the more expensive parts of their computers. She knew that their computers appealed particularly to small business owners due in part to price. They were able to offer the lower price because their computers were not as powerful or fast as some machines, but did contain the necessary word processing, database, and spreadsheet capabilities necessary for a typical small business owner. The lack of frills with the solid three program capabilities, plus their known reputation for quality had worked for them in the past. Stacie wondered if perhaps they needed to look at a smaller segment of the market, maybe small businesses with large accounts receivables that would fully utilize their specific database. She knew that would cut their market by 1/8 but maybe achieving a definite market niche would help. Stacie began compiling her report for Friday's meeting. -Stacie knew that the strategy management would depend on the organization's and its competitors' ___________ .

When objectives are not written down or rarely verbalized, and the planning is general and lacks continuity, which of the following types of planning is used?

Uncertainty and change produce a need for more effective planning in today's business environment.

Application of Porter's Competitive Strategy Stacie sighed. Her general manager had just left after giving her the latest assignment- readdress the competitive advantage of their company. By Friday's meeting, Stacie was to have developed three differing strategies the business could use in order to maintain its competitive advantage. Its computer business was slowly losing market share to its competitors, and everyone realized something needed to be done. Stacie glanced through the article by Michael Porter that her manager had left with her. According to Porter, there were three differing types of strategies they could choose from. Stacie began wondering if there was a way they could make their computers cheaper, which would allow them to then sell at a lower price. If they could reduce price by $100 a machine, they would be the industry leaders in price. Stacie wondered if they could find any lower- priced suppliers for the more expensive parts of their computers. She knew that their computers appealed particularly to small business owners due in part to price. They were able to offer the lower price because their computers were not as powerful or fast as some machines, but did contain the necessary word processing, database, and spreadsheet capabilities necessary for a typical small business owner. The lack of frills with the solid three program capabilities, plus their known reputation for quality had worked for them in the past. Stacie wondered if perhaps they needed to look at a smaller segment of the market, maybe small businesses with large accounts receivables that would fully utilize their specific database. She knew that would cut their market by 1/8 but maybe achieving a definite market niche would help. Stacie began compiling her report for Friday's meeting. -The competitive advantage based upon their known reputation among small business owners for a computer with few frills, but the capabilities of performing word processing, databases, and spreadsheets would be known as a

___________ clarifies the consequences of actions managers might take in response to continual change.

In order to fulfill the grand strategy, managers will seek to position their units so that they can gain a relative advantage over their competition.

Describe SWOT analysis and how it is used in today's business.

When Northwest Airlines began serving its own in- flight meals, which of the following strategies was it pursuing?

Explain in detail who is to determine the objectives in MBO and why.

Rochester Big and Tall is a small chain of clothing retailers that sell exclusively only to men. Its quality materials, variety of styles and range of prices, and ___________ strategy create a competitive advantage for the chain.

Entenmann's Baking Company produces cakes, pies, and other prepared foods. It is one of the largest producers of baked goods in the Northeastern United states yet, it spends less than $2000.00 a year on advertising, and sells its product in large supermarkets and grocery stores for 1/2- 1/3 the cost of its competitors. This company pursues a(n)___________ strategy.

Planning can

Well- thought out formal plans eliminate the need to rely on intuition and creativity. Apple Computer is a prime example of this concept.

Companies achieving ISO 14000 certification have demonstrated that they are

Managers should treat MBO as an ongoing activity, which means that goals should be regularly reviewed and___________ .