Question 1

A plan that indicates how a division intends to compete against its rivals in an industry is known as a:

Accepted Answer

A) corporate-level strategy 
B) business-level plan 
C) functional-level plan 
D) corporate-level plan 
E) business-level strategy 
A) corporate-level strategy 
B) business-level plan 
C) functional-level plan 
D) corporate-level plan 
E) business-level strategy

Question 2

A 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) vision statement 
B) goal statement 
C) mission statement 
D) SWOT analysis 
E) corporate-level strategy 
A) vision statement 
B) goal statement 
C) mission statement 
D) SWOT analysis 
E) corporate-level strategy

Question 3

Luxury car producers follow a focused differentiation strategy.

Accepted Answer

A) True 
 B)False

Question 4

Cott Corporation pursues a focused differentiation strategy in that it focuses on large retail chains and strives to be the lowest-cost company serving that segment of the market.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Crisis management:

Accepted Answer

A) Is the same as scenario planning 
B) Is the same as contingency planning 
C) Occurs when unanticipated conditions arise 
D) Involves generating several 'what if' scenarios 
E) Predicts when conditions might give rise to a contingency plan 
A) Is the same as scenario planning 
B) Is the same as contingency planning 
C) Occurs when unanticipated conditions arise 
D) Involves generating several 'what if' scenarios 
E) Predicts when conditions might give rise to a contingency plan

Question 7

Which aspect of planning is emphasized when it is said that managers need to make every attempt to collect and utilize all available information at their disposal?

Accepted Answer

A) unity 
B) flexibility 
C) continuity 
D) accuracy 
E) vertical integration 
A) unity 
B) flexibility 
C) continuity 
D) accuracy 
E) vertical integration

Question 8

Effective plans have only two qualities: unity and continuity.

Accepted Answer

A) True 
 B)False

Question 9

An example of adding value in the research and development department of an organization is to improve existing products.

Accepted Answer

A) True 
 B)False

Question 10

Attaining superior quality products and services is a way of gaining a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 11

Implementation of strategy involves establishing a timetable that includes when goals are scheduled to be completed, such as a Gantt chart.

Accepted Answer

A) True 
 B)False

Question 12

There are four building blocks in gaining a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 13

The intended duration of a plan is known as a rolling plan.

Accepted Answer

A) True 
 B)False

Question 14

In general, corporate-level planning is the primary responsibility of top management while business-level planning is the primary responsibility of supervisors.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is an important reason for planning?

Accepted Answer

A) planning is a means to give the organization a sense of direction 
B) a plan helps coordinate managers of the different divisions to ensure that they all pull in the same direction 
C) a plan can be useful as a device for controlling managers 
D) planning is a useful way of getting managers to participate in decision making 
E) all of these choices are important reasons for planning 
A) planning is a means to give the organization a sense of direction 
B) a plan helps coordinate managers of the different divisions to ensure that they all pull in the same direction 
C) a plan can be useful as a device for controlling managers 
D) planning is a useful way of getting managers to participate in decision making 
E) all of these choices are important reasons for planning

Question 16

A goal is a broad declaration of the organization and/or a statement of its dreams for the future.

Accepted Answer

A) True 
 B)False

Question 17

In the second step of the planning process, managers analyze the organization's current strengths and weaknesses to formulate strategy.

Accepted Answer

A) True 
 B)False

Question 18

A cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals is known as:

Accepted Answer

A) strategy 
B) vertical integration 
C) multi-domestic strategy 
D) planning 
E) SWOT analysis 
A) strategy 
B) vertical integration 
C) multi-domestic strategy 
D) planning 
E) SWOT analysis

Question 19

An SOP is a written instruction describing the exact series of actions that should be followed in a specific situation.

Accepted Answer

A) True 
 B)False

Question 20

Plans are fixed and should never be altered.

Accepted Answer

A) True 
 B)False

A plan that indicates how a division intends to compete against its rivals in an industry is known as a:

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

Luxury car producers follow a focused differentiation strategy.

Cott Corporation pursues a focused differentiation strategy in that it focuses on large retail chains and strives to be the lowest-cost company serving that segment of the market.

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

Crisis management:

Which aspect of planning is emphasized when it is said that managers need to make every attempt to collect and utilize all available information at their disposal?

Effective plans have only two qualities: unity and continuity.

An example of adding value in the research and development department of an organization is to improve existing products.

Attaining superior quality products and services is a way of gaining a competitive advantage.

Implementation of strategy involves establishing a timetable that includes when goals are scheduled to be completed, such as a Gantt chart.

There are four building blocks in gaining a competitive advantage.

The intended duration of a plan is known as a rolling plan.

In general, corporate-level planning is the primary responsibility of top management while business-level planning is the primary responsibility of supervisors.

Which of the following is an important reason for planning?

A goal is a broad declaration of the organization and/or a statement of its dreams for the future.

In the second step of the planning process, managers analyze the organization's current strengths and weaknesses to formulate strategy.

A cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals is known as:

An SOP is a written instruction describing the exact series of actions that should be followed in a specific situation.

Plans are fixed and should never be altered.

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

A plan that indicates how a division intends to compete against its rivals in an industry is known as a:

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

Luxury car producers follow a focused differentiation strategy.

Cott Corporation pursues a focused differentiation strategy in that it focuses on large retail chains and strives to be the lowest-cost company serving that segment of the market.

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

Crisis management:

Which aspect of planning is emphasized when it is said that managers need to make every attempt to collect and utilize all available information at their disposal?

Effective plans have only two qualities: unity and continuity.

An example of adding value in the research and development department of an organization is to improve existing products.

Attaining superior quality products and services is a way of gaining a competitive advantage.

Implementation of strategy involves establishing a timetable that includes when goals are scheduled to be completed, such as a Gantt chart.

There are four building blocks in gaining a competitive advantage.

The intended duration of a plan is known as a rolling plan.

In general, corporate-level planning is the primary responsibility of top management while business-level planning is the primary responsibility of supervisors.

Which of the following is an important reason for planning?

A goal is a broad declaration of the organization and/or a statement of its dreams for the future.

In the second step of the planning process, managers analyze the organization's current strengths and weaknesses to formulate strategy.

A cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals is known as:

An SOP is a written instruction describing the exact series of actions that should be followed in a specific situation.

Plans are fixed and should never be altered.

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