Exam 4: Managing Planning and Strategy

Which of the following is a general guide to action?

Pursuing innovation is a way to gain a competitive advantage.

An example of contingency planning is when shell oil generated multiple scenarios about conditions in the world oil market that might prevail in the future, and then developed plans of what the company should do in the event that any of these scenarios actually occurred.

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.

TD Bank Group's is to "be the best run, customer focused, integrated financial institution with a unique and inclusive employee culture."

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

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

Corporate and business-level plans are generally short term relative to functional level plans.

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

Discuss time horizons in terms of long-term plans, intermediate plans, and short-term plans and provide one example of each type of plan.

Good goal formulation means making goals which are SMART + C.

When a company generates multiple forecasts of future conditions followed by an analysis of how to respond effectively to each of those conditions, this is known as:

A functional-level strategy to accomplish the goal of reducing costs in the production department, might be to invest in state-of-the-art European facilities.

Plans with a time horizon of five years or more are referred to as:

Michael Porter identified four factors that are major threats in the external environment.

When operations managers set goals to reduce shipping time to customers, this is an example of which level of planning?

The following is an example of a vision statement: "a computer on every desk, in every home, and in every office."

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?

"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' _.

With a differentiation strategy, managers may try to gain a competitive advantage by distinguishing their products or services from competitors on which of the following dimensions?