Question 1

"A distinctive edge" is a way of describing a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 2

To create a competitive advantage that is sustainable, a company can begin by focusing on quality, then ________.

Accepted Answer

A) make sure quality doesn't decline at too rapid a pace 
B) make incremental improvements to keep quality levels high 
C) change its entire product line frequently 
D) slowly diminish quality and raise the prices of its products 
A) make sure quality doesn't decline at too rapid a pace 
B) make incremental improvements to keep quality levels high 
C) change its entire product line frequently 
D) slowly diminish quality and raise the prices of its products

Question 3

A major argument against formal plans is that they can't replace intuition and creativity.

Accepted Answer

A) True 
 B)False

Question 4

The thing that makes your product special is known as your ________.

Accepted Answer

A) assets 
B) destruction device 
C) competitive advantage 
D) core device 
A) assets 
B) destruction device 
C) competitive advantage 
D) core device

Question 5

In a short essay, describe the first two steps in the strategic management process.

Accepted Answer

The first step in the strategic manageme

Question 6

Organizations that don't formally plan may be more likely to have ________.

Accepted Answer

A) corrupt managers 
B) legal problems 
C) multiple departments performing the same task 
D) a single department carrying out all company functions 
A) corrupt managers 
B) legal problems 
C) multiple departments performing the same task 
D) a single department carrying out all company functions

Question 7

Failing to discard successful plans from the past is likely to lead to ________.

Accepted Answer

A) more success because conditions are unlikely to change in the future 
B) failure because conditions are likely to change in the future 
C) success because of the high quality of the plans 
D) failure because of the low quality of the plans 
A) more success because conditions are unlikely to change in the future 
B) failure because conditions are likely to change in the future 
C) success because of the high quality of the plans 
D) failure because of the low quality of the plans

Question 8

Remedies that all renewal strategies employ include which of the following?

Accepted Answer

A) hiring efficiency experts 
B) new ad campaigns 
C) emulating competitors 
D) cutting costs 
A) hiring efficiency experts 
B) new ad campaigns 
C) emulating competitors 
D) cutting costs

Question 9

A major strength of formal planning is that it generally correlates with higher profits.

Accepted Answer

A) True 
 B)False

Question 10

Informal planning typically works better in large organizations.

Accepted Answer

A) True 
 B)False

Question 11

In a short essay, define planning and compare formal and informal planning as they are used in various organizations.

Accepted Answer

Planning involves defining the organizat

Question 12

Which of the following best defines goals?

Accepted Answer

A) likely outcomes for the future 
B) unlikely outcomes for the future 
C) desired outcomes for the future 
D) short-term targets 
A) likely outcomes for the future 
B) unlikely outcomes for the future 
C) desired outcomes for the future 
D) short-term targets

Question 13

Which of the following do managers NOT typically use to formulate strategies?

Accepted Answer

A) finding ways to exploit the organization's strengths 
B) finding ways to protect the organization from external threats 
C) finding ways to rule out existing organizational opportunities 
D) finding ways to correct organizational weaknesses 
A) finding ways to exploit the organization's strengths 
B) finding ways to protect the organization from external threats 
C) finding ways to rule out existing organizational opportunities 
D) finding ways to correct organizational weaknesses

Question 14

Directional plans ________.

Accepted Answer

A) leave no room for interpretation 
B) are flexible general guidelines 
C) are difficult to modify 
D) must be short-term plans 
A) leave no room for interpretation 
B) are flexible general guidelines 
C) are difficult to modify 
D) must be short-term plans

"A distinctive edge" is a way of describing a competitive advantage.

To create a competitive advantage that is sustainable, a company can begin by focusing on quality, then ________.

A major argument against formal plans is that they can't replace intuition and creativity.

The thing that makes your product special is known as your ________.

In a short essay, describe the first two steps in the strategic management process.

Organizations that don't formally plan may be more likely to have ________.

Failing to discard successful plans from the past is likely to lead to ________.

Remedies that all renewal strategies employ include which of the following?

A major strength of formal planning is that it generally correlates with higher profits.

Informal planning typically works better in large organizations.

In a short essay, define planning and compare formal and informal planning as they are used in various organizations.

Which of the following best defines goals?

Which of the following do managers NOT typically use to formulate strategies?

Directional plans ________.

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

"A distinctive edge" is a way of describing a competitive advantage.

To create a competitive advantage that is sustainable, a company can begin by focusing on quality, then ________.

A major argument against formal plans is that they can't replace intuition and creativity.

The thing that makes your product special is known as your ________.

In a short essay, describe the first two steps in the strategic management process.

Organizations that don't formally plan may be more likely to have ________.

Failing to discard successful plans from the past is likely to lead to ________.

Remedies that all renewal strategies employ include which of the following?

A major strength of formal planning is that it generally correlates with higher profits.

Informal planning typically works better in large organizations.

In a short essay, define planning and compare formal and informal planning as they are used in various organizations.

Which of the following best defines goals?

Which of the following do managers NOT typically use to formulate strategies?

Directional plans ________.

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