Exam 4: Managing Planning and Strategy

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

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A SWOT analysis stands for:

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

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Planning is a five-step activity.

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

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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'.

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

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

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

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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.

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

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Effective plans should have:

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Evaluating strategy involves which of the following?

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

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

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Implementing strategy includes all of the following steps, except:

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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.

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

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

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

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