Question 1

When handling crises, management should do all of the following except:

Accepted Answer

A) Initiate a recall 
B) Be open with stakeholders 
C) Keep a low profile to avoid being blamed 
D) Remove tainted products from shelves 
E) Be transparent about the situation 
A) Initiate a recall 
B) Be open with stakeholders 
C) Keep a low profile to avoid being blamed 
D) Remove tainted products from shelves 
E) Be transparent about the situation

Question 2

A SWOT analysis stands for:

Accepted Answer

A) Systems, weaknesses, opportunities, threats 
B) Systems, weaknesses, opportunities, technologies 
C) Strengths, weaknesses, opportunities, threats 
D) Strengths, weaknesses, opportunities, technologies 
E) None of the choices are correct 
A) Systems, weaknesses, opportunities, threats 
B) Systems, weaknesses, opportunities, technologies 
C) Strengths, weaknesses, opportunities, threats 
D) Strengths, weaknesses, opportunities, technologies 
E) None of the choices are correct

Question 3

Analysis of an organization's current situation followed by the development of strategies to accomplish its mission and achieve its goals is known as:

Accepted Answer

A) strategizing 
B) applying the Five Forces model 
C) SWOT analysis 
D) strategy formulation 
E) planning 
A) strategizing 
B) applying the Five Forces model 
C) SWOT analysis 
D) strategy formulation 
E) planning

Question 4

Planning is a five-step activity.

Accepted Answer

A) True 
 B)False

Question 5

All of the following are examples of corporate-level strategies except:

Accepted Answer

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

Question 6

Michael Porter presented two basic ways in which the top management of an organization could select a business-level strategy for their organization.Discuss these and show how each main strategy can be 'focused'.

Accepted Answer

Managers can select a cost-leadership st

Question 7

A differentiation strategy is one in which the managers try to distinguish the organization's product from the products of competitors.

Accepted Answer

A) True 
 B)False

Question 8

Implementing a strategy may require redesigning the structure, changing the culture, and developing new control systems in the organization.

Accepted Answer

A) True 
 B)False

Question 9

The desire of Bill Gates of Microsoft to have "a computer on every desk" is an example of a:

Accepted Answer

A) Vision statement 
B) Corporate-level strategy 
C) SWOT analysis 
D) Mission statement 
E) Goal statement 
A) Vision statement 
B) Corporate-level strategy 
C) SWOT analysis 
D) Mission statement 
E) Goal statement

Question 10

Standing plans are used in situations in which programmed decision making is appropriate while single-use plans are developed to handle nonprogrammed decision making in unusual or one-of-a-kind situations.

Accepted Answer

A) True 
 B)False

Question 11

The goal of GE lighting to reduce production costs by 20% over three years is a functional-level goal.

Accepted Answer

A) True 
 B)False

Question 12

Effective plans should have:

Accepted Answer

A) unity 
B) accuracy 
C) flexibility 
D) continuity 
E) all of these choices are correct 
A) unity 
B) accuracy 
C) flexibility 
D) continuity 
E) all of these choices are correct

Question 13

Evaluating strategy involves which of the following?

Accepted Answer

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

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

One of the weaknesses of Amazon.com is its cluttered website.

Accepted Answer

A) True 
 B)False

Question 16

Implementing strategy includes all of the following steps, except:

Accepted Answer

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

Question 17

A mission statement is a broad declaration of an organization's overriding purpose intended to identify its products and customers and distinguish itself from other similar organizations.

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

Private label brands like President's Choice and No Name brands are examples of a differentiation strategy.

Accepted Answer

A) True 
 B)False

Question 20

When a company targets a particular language group to sell its products to, it is using a strategy.

Accepted Answer

A) focused 
B) low-cost 
C) cost-leadership 
D) differentiation 
E) stuck in the middle 
A) focused 
B) low-cost 
C) cost-leadership 
D) differentiation 
E) stuck in the middle

When handling crises, management should do all of the following except:

A SWOT analysis stands for:

Analysis of an organization's current situation followed by the development of strategies to accomplish its mission and achieve its goals is known as:

Planning is a five-step activity.

All of the following are examples of corporate-level strategies except:

Michael Porter presented two basic ways in which the top management of an organization could select a business-level strategy for their organization.Discuss these and show how each main strategy can be 'focused'.

A differentiation strategy is one in which the managers try to distinguish the organization's product from the products of competitors.

Implementing a strategy may require redesigning the structure, changing the culture, and developing new control systems in the organization.

The desire of Bill Gates of Microsoft to have "a computer on every desk" is an example of a:

Standing plans are used in situations in which programmed decision making is appropriate while single-use plans are developed to handle nonprogrammed decision making in unusual or one-of-a-kind situations.

The goal of GE lighting to reduce production costs by 20% over three years is a functional-level goal.

Effective plans should have:

Evaluating strategy involves which of the following?

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

One of the weaknesses of Amazon.com is its cluttered website.

Implementing strategy includes all of the following steps, except:

A mission statement is a broad declaration of an organization's overriding purpose intended to identify its products and customers and distinguish itself from other similar organizations.

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

Private label brands like President's Choice and No Name brands are examples of a differentiation strategy.

When a company targets a particular language group to sell its products to, it is using a strategy.

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

When handling crises, management should do all of the following except:

A SWOT analysis stands for:

Analysis of an organization's current situation followed by the development of strategies to accomplish its mission and achieve its goals is known as:

Planning is a five-step activity.

All of the following are examples of corporate-level strategies except:

Michael Porter presented two basic ways in which the top management of an organization could select a business-level strategy for their organization.Discuss these and show how each main strategy can be 'focused'.

A differentiation strategy is one in which the managers try to distinguish the organization's product from the products of competitors.

Implementing a strategy may require redesigning the structure, changing the culture, and developing new control systems in the organization.

The desire of Bill Gates of Microsoft to have "a computer on every desk" is an example of a:

Standing plans are used in situations in which programmed decision making is appropriate while single-use plans are developed to handle nonprogrammed decision making in unusual or one-of-a-kind situations.

The goal of GE lighting to reduce production costs by 20% over three years is a functional-level goal.

Effective plans should have:

Evaluating strategy involves which of the following?

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

One of the weaknesses of Amazon.com is its cluttered website.

Implementing strategy includes all of the following steps, except:

A mission statement is a broad declaration of an organization's overriding purpose intended to identify its products and customers and distinguish itself from other similar organizations.

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

Private label brands like President's Choice and No Name brands are examples of a differentiation strategy.

When a company targets a particular language group to sell its products to, it is using a strategy.

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