Exam 5: Foundations of Planning

An external analysis will identify the threats to a company's well-being, but not opportunities for success.

In most cases, strategic goals include ________.

A corporate strategy focuses primarily on ________.

A mission statement does NOT include which of the following?

Customer service cannot be considered a strategic weapon for an organization.

Which goal-setting sequence is correct for the following steps? 1.Evaluate resources. 2.Identify goals. 3.Review the mission and job tasks. 4.Communicate goals. 5.Link rewards to goals. 6.Build feedback mechanisms.

Which of the following is a frequently cited criticism of formal planning?

Planning gives organizations direction that primarily helps them ________.

In traditional goal setting, these individuals set goals.

The first three steps of the strategic management process involve ________ strategies.

Which of the following makes up the three main types of corporate strategies?

A company whose goal is to retain its ideal size and market share is employing which kind of strategy?

For a limited time, Taco Rocket is thinking of coming out with a new Fifth Degree Burrito that is so hot it "burns a hole in the plate." Catering to the small segment of the market that likes super-hot food is an example of a ________.

Most managers feel that formal, top-down plans created by corporate planning departments are ________.

A company's strategic weapon is any product, service, or other attribute it has that ________.

Planning provides direction to managers and nonmanagers alike.

General Mills expanding its line so that it sells several different types of Cheerios is an example of which of the following?

A corporate strategy may be a growth strategy, a stability strategy, or a renewal strategy.

A cost leadership competitive strategy focuses on which of the following?

A differentiation strategy ________.