Question 1

Formal planning can enhance creativity in an organization.

Accepted Answer

A) True 
 B)False

Question 2

Innovation and super-high quality are typically the keys to a cost-leadership strategy.

Accepted Answer

A) True 
 B)False

Question 3

A company that is on the verge of collapse or bankruptcy might employ this strategy.

Accepted Answer

A) retrenchment 
B) incremental improvement 
C) turnaround 
D) hunker down 
A) retrenchment 
B) incremental improvement 
C) turnaround 
D) hunker down

Question 4

Imagine that you are the president of Taco Rocket, a new and successful chain of 8 Mexican fast-food restaurants. The success you have experienced in the last 5 years has you thinking of what to do with the business next. Should you expand the business at the current rate? Open new and different restaurants? What?
-Up to now your success has been based on selling high-quality tacos and burritos at a price that others can't match.Your business is pursuing which of Porter's strategies?

Accepted Answer

A) differentiation strategy 
B) cost leadership strategy 
C) competitive advantage strategy 
D) focus strategy 
A) differentiation strategy 
B) cost leadership strategy 
C) competitive advantage strategy 
D) focus strategy

Question 5

In traditional goal setting, as they work their way from top management to employees, goals are likely to ________.

Accepted Answer

A) become more clear 
B) be more rigorously followed 
C) be unchanged 
D) become more specific 
A) become more clear 
B) be more rigorously followed 
C) be unchanged 
D) become more specific

Question 6

Most successful companies find that ________ a competitive advantage is almost as difficult as developing a competitive advantage.

Accepted Answer

A) assessing 
B) sustaining 
C) modifying 
D) eliminating 
A) assessing 
B) sustaining 
C) modifying 
D) eliminating

Question 7

Top managers, for the most part, focus on this type of planning.

Accepted Answer

A) operational 
B) strategic 
C) tactical 
D) short term 
A) operational 
B) strategic 
C) tactical 
D) short term

Question 8

Tactical plans are operational plans that identify ________.

Accepted Answer

A) overall organizational goals 
B) how overall goals are to be achieved 
C) the mission of an organization 
D) specific goals for accomplishing a specific objective 
A) overall organizational goals 
B) how overall goals are to be achieved 
C) the mission of an organization 
D) specific goals for accomplishing a specific objective

Question 9

Managers who fail to plan may ________.

Accepted Answer

A) take advantage of change 
B) stimulate change 
C) be positively affected by change 
D) be adversely affected by change 
A) take advantage of change 
B) stimulate change 
C) be positively affected by change 
D) be adversely affected by change

Question 10

The commitment concept states that plans should ________.

Accepted Answer

A) always stake out a longer time period than is estimated 
B) always stake out a shorter time period than is estimated 
C) stake out a time period that is neither too long nor too short 
D) not include time periods because they are too confining 
A) always stake out a longer time period than is estimated 
B) always stake out a shorter time period than is estimated 
C) stake out a time period that is neither too long nor too short 
D) not include time periods because they are too confining

Question 11

In reality, all organizations have ________.

Accepted Answer

A) a single goal 
B) multiple goals 
C) the same goals 
D) the same single goal 
A) a single goal 
B) multiple goals 
C) the same goals 
D) the same single goal

Question 12

In a short essay, discuss Porter's focus strategy.

Accepted Answer

A company pursues a focus strategy when

Question 13

The three different types of strategies that managers implement are ________.

Accepted Answer

A) corporate, private, functional 
B) corporate, competitive, functional 
C) long-term, short-term, public 
D) competitive, noncompetitive, corporate 
A) corporate, private, functional 
B) corporate, competitive, functional 
C) long-term, short-term, public 
D) competitive, noncompetitive, corporate

Question 14

In a short essay, compare specific plans and directional plans.

Accepted Answer

Specific plans are plans that are clearl

Question 15

You are thinking of buying a tortilla factory in a nearby state.This action would be an example of ________.

Accepted Answer

A) forward vertical integration 
B) horizontal integration 
C) backward vertical integration 
D) forward diversification 
A) forward vertical integration 
B) horizontal integration 
C) backward vertical integration 
D) forward diversification

Question 16

An organization's real goals and priorities are best revealed by ________.

Accepted Answer

A) its official stated goals 
B) its actions in the marketplace 
C) its statements to the press 
D) its mission statement 
A) its official stated goals 
B) its actions in the marketplace 
C) its statements to the press 
D) its mission statement

Question 17

Goals typically should be reserved for managers only.Goals should not be shared with subordinates.

Accepted Answer

A) True 
 B)False

Question 18

In management by objectives (MBO), goals ________.

Accepted Answer

A) must be easily accomplished 
B) are jointly determined by employees and managers 
C) are determined by top management 
D) are developed by employees 
A) must be easily accomplished 
B) are jointly determined by employees and managers 
C) are determined by top management 
D) are developed by employees

Question 19

In a short essay, identify criticisms of formal planning.

Accepted Answer

One of the main arguments directed at fo

Question 20

Which of the following describes a company that is following a focus strategy?

Accepted Answer

A) a software company that makes a wide variety of games and financial products 
B) a software company that makes games for a wide audience 
C) a software company that makes financial products for accountants, consumers, and businesses 
D) a software company that makes financial products for accountants only 
A) a software company that makes a wide variety of games and financial products 
B) a software company that makes games for a wide audience 
C) a software company that makes financial products for accountants, consumers, and businesses 
D) a software company that makes financial products for accountants only

Formal planning can enhance creativity in an organization.

Innovation and super-high quality are typically the keys to a cost-leadership strategy.

A company that is on the verge of collapse or bankruptcy might employ this strategy.

In traditional goal setting, as they work their way from top management to employees, goals are likely to ________.

Most successful companies find that ________ a competitive advantage is almost as difficult as developing a competitive advantage.

Top managers, for the most part, focus on this type of planning.

Tactical plans are operational plans that identify ________.

Managers who fail to plan may ________.

The commitment concept states that plans should ________.

In reality, all organizations have ________.

In a short essay, discuss Porter's focus strategy.

The three different types of strategies that managers implement are ________.

In a short essay, compare specific plans and directional plans.

You are thinking of buying a tortilla factory in a nearby state.This action would be an example of ________.

An organization's real goals and priorities are best revealed by ________.

Goals typically should be reserved for managers only.Goals should not be shared with subordinates.

In management by objectives (MBO), goals ________.

In a short essay, identify criticisms of formal planning.

Which of the following describes a company that is following a focus strategy?

Managers and Management

The Management Environment

Integrative Managerial Issues

Foundations of Decision Making

Organization Structure

Managing Human Resources

Managing Change and Innovation

Foundations of Individual Behavior

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Managing Communication and Information

Foundations of Control

Operations Management

History Module

Quantitative Module

Career Module

Entrepreneurship Module

Filters

Exam 5: Foundations of Planning

Formal planning can enhance creativity in an organization.

Innovation and super-high quality are typically the keys to a cost-leadership strategy.

A company that is on the verge of collapse or bankruptcy might employ this strategy.

In traditional goal setting, as they work their way from top management to employees, goals are likely to ________.

Most successful companies find that ________ a competitive advantage is almost as difficult as developing a competitive advantage.

Top managers, for the most part, focus on this type of planning.

Tactical plans are operational plans that identify ________.

Managers who fail to plan may ________.

The commitment concept states that plans should ________.

In reality, all organizations have ________.

In a short essay, discuss Porter's focus strategy.

The three different types of strategies that managers implement are ________.

In a short essay, compare specific plans and directional plans.

You are thinking of buying a tortilla factory in a nearby state.This action would be an example of ________.

An organization's real goals and priorities are best revealed by ________.

Goals typically should be reserved for managers only.Goals should not be shared with subordinates.

In management by objectives (MBO), goals ________.

In a short essay, identify criticisms of formal planning.

Which of the following describes a company that is following a focus strategy?

Managers and Management

The Management Environment

Integrative Managerial Issues

Foundations of Decision Making

Organization Structure

Managing Human Resources

Managing Change and Innovation

Foundations of Individual Behavior

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Managing Communication and Information

Foundations of Control

Operations Management

History Module

Quantitative Module

Career Module

Entrepreneurship Module

Filters