Question 1

Events such as the terrorist attacks of September 11 have little effect on the mission of companies such as Delta Air Lines.

Accepted Answer

A) True 
 B)False  False

Question 2

A plan provides specific answers to all of the questions except:

Accepted Answer

A) how. 
B) why. 
C) who. 
D) when. 
A) how. 
B) why. 
C) who. 
D) when. B

Question 3

A cost-leadership strategy is one focused on keeping costs as low as possible through efficient operations and loose controls.

Accepted Answer

A) True 
 B)False  False

Question 4

Match the options below with the correct phrases:
-cost-leadership strategy

Accepted Answer

A) a business-level strategy to keep tight controls over expenses 
B) a strategy to acquire similar products or services 
C) a strategy to accept the status quo 
D) a business unit with low market share and low market growth rate 
E) the processes associated with putting the strategic plan into motion
F)a strategy element that identifies the current position and its relationship to competitors
G)a strategy to explore "uncharted waters"
H)a planning tool grouping businesses based on market growth rate and market share
I)a strategy to reduce the size or scope of activities
J)major organizational departments such as marketing and human resources are critical to this strategy 
A) a business-level strategy to keep tight controls over expenses 
B) a strategy to acquire similar products or services 
C) a strategy to accept the status quo 
D) a business unit with low market share and low market growth rate 
E) the processes associated with putting the strategic plan into motion
F)a strategy element that identifies the current position and its relationship to competitors
G)a strategy to explore "uncharted waters"
H)a planning tool grouping businesses based on market growth rate and market share
I)a strategy to reduce the size or scope of activities
J)major organizational departments such as marketing and human resources are critical to this strategy

Question 5

A course of action created to achieve a long-term goal is called a _________,while a course of action designed to achieve a short-term goal is considered a __________.

Accepted Answer

A) stretch goal,tactic 
B) strategy,tactic 
C) strategy,goal 
D) LT tactic,ST tactic 
A) stretch goal,tactic 
B) strategy,tactic 
C) strategy,goal 
D) LT tactic,ST tactic

Question 6

Match the options below with the correct phrase:
-(BCG)Matrix star

Accepted Answer

A) a type of business with large market share in a rapidly growing industry 
B) a type of business with a large market share in a stable, slow-growth industry 
C) managers use this strategy to stabilize supply lines, reduce costs, or consolidate competition 
D) responding to environmental threats in a somewhat haphazard way 
E) a strategy for holding your own ground in the market
F)an autonomous business division within a corporation that has its own product, market, and competitors
G)a corporate-level strategy for moving into new products or markets
H)the size or position of the business in the environment
I)the overall or total plan of action
J)a plan that focuses on how each product line or business unit competes within an organization 
A) a type of business with large market share in a rapidly growing industry 
B) a type of business with a large market share in a stable, slow-growth industry 
C) managers use this strategy to stabilize supply lines, reduce costs, or consolidate competition 
D) responding to environmental threats in a somewhat haphazard way 
E) a strategy for holding your own ground in the market
F)an autonomous business division within a corporation that has its own product, market, and competitors
G)a corporate-level strategy for moving into new products or markets
H)the size or position of the business in the environment
I)the overall or total plan of action
J)a plan that focuses on how each product line or business unit competes within an organization

Question 7

The financial strategy of a firm involves decisions about the action to be taken with profits,how funds will be spend or invested,and how any additional funds will be raised.

Accepted Answer

A) True 
 B)False

Question 8

The final step in the basic planning process is ____________.

Accepted Answer

A) controlling and evaluating the results 
B) implementing the plan 
C) evaluating the alternatives 
D) selecting the best solution 
A) controlling and evaluating the results 
B) implementing the plan 
C) evaluating the alternatives 
D) selecting the best solution

Question 9

Procedures spell out the "____________" for a task or function.

Accepted Answer

A) what 
B) who 
C) when 
D) how 
A) what 
B) who 
C) when 
D) how

Question 10

Strategic planning applies only to large corporations,not smaller firms.

Accepted Answer

A) True 
 B)False

Question 11

Policies,procedures,and rules can apply to many different organizational activities.

Accepted Answer

A) True 
 B)False

Question 12

Capturing a larger portion of an existing product market would be considered a(n)____________.

Accepted Answer

A) retrenchment strategy 
B) stability strategy 
C) growth strategy 
D) diversification strategy 
A) retrenchment strategy 
B) stability strategy 
C) growth strategy 
D) diversification strategy

Question 13

Buying real estate properties for future store locations is a retrenchment strategy.

Accepted Answer

A) True 
 B)False

Question 14

Manufacturers of sporting shoes use focus strategies.

Accepted Answer

A) True 
 B)False

Question 15

Match the options below with the correct phrases:
-growth strategy

Accepted Answer

A) a business-level strategy pinpointing a specific market 
B) a plan to maximize competitive advantage by using the proper mix of units and products 
C) includes assessing the environment, analyzing core competencies, and creating goals and plans 
D) a strategy as to how managers will allocate resources 
E) a corporate-level plan to expand and increase to higher levels
F)a search for pros and cons, opportunities, and threats as well as positives and negatives of an organization
G)a plan that maps out the destiny for the entire organization
H)a long-term course of action using planning and decision-making processes
I)a business-level strategy that attempts to set products or services apart from those of other companies
J)a business unit with small market shares in an expanding industry 
A) a business-level strategy pinpointing a specific market 
B) a plan to maximize competitive advantage by using the proper mix of units and products 
C) includes assessing the environment, analyzing core competencies, and creating goals and plans 
D) a strategy as to how managers will allocate resources 
E) a corporate-level plan to expand and increase to higher levels
F)a search for pros and cons, opportunities, and threats as well as positives and negatives of an organization
G)a plan that maps out the destiny for the entire organization
H)a long-term course of action using planning and decision-making processes
I)a business-level strategy that attempts to set products or services apart from those of other companies
J)a business unit with small market shares in an expanding industry

Question 16

Tactics influence and often dictate the choice of strategies.

Accepted Answer

A) True 
 B)False

Question 17

Strategic business units are autonomous businesses with their own identities but operate within the framework of many organizations.

Accepted Answer

A) True 
 B)False

Question 18

According to management guru Peter Drucker,a mission statement should answer,"What is our business? What should it be?"

Accepted Answer

A) True 
 B)False

Question 19

Defender strategy means capturing more market share.

Accepted Answer

A) True 
 B)False

Question 20

Strategy objectives for human resources include all of the following except ____________.

Accepted Answer

A) hiring/selecting 
B) training 
C) developing 
D) leading 
A) hiring/selecting 
B) training 
C) developing 
D) leading

Events such as the terrorist attacks of September 11 have little effect on the mission of companies such as Delta Air Lines.

A plan provides specific answers to all of the questions except:

A cost-leadership strategy is one focused on keeping costs as low as possible through efficient operations and loose controls.

Match the options below with the correct phrases: -cost-leadership strategy

A course of action created to achieve a long-term goal is called a _,while a course of action designed to achieve a short-term goal is considered a __.

Match the options below with the correct phrase: -(BCG)Matrix star

The financial strategy of a firm involves decisions about the action to be taken with profits,how funds will be spend or invested,and how any additional funds will be raised.

The final step in the basic planning process is ____________.

Procedures spell out the "____________" for a task or function.

Strategic planning applies only to large corporations,not smaller firms.

Policies,procedures,and rules can apply to many different organizational activities.

Capturing a larger portion of an existing product market would be considered a(n)____________.

Buying real estate properties for future store locations is a retrenchment strategy.

Manufacturers of sporting shoes use focus strategies.

Match the options below with the correct phrases: -growth strategy

Tactics influence and often dictate the choice of strategies.

Strategic business units are autonomous businesses with their own identities but operate within the framework of many organizations.

According to management guru Peter Drucker,a mission statement should answer,"What is our business? What should it be?"

Defender strategy means capturing more market share.

Strategy objectives for human resources include all of the following except ____________.

Management: An Overview

Management Thought: Past and Present

The Managers Environment

Managements Commitments to Quality and Productivity

Making Decisions

Organizing Principles

Organizational Design, Culture, and Change

Management Ethics and Social Responsibility

Staffing the Workforce

Communication: Interpersonal and Organizational

Human Motivation

Leadership

Team Management and Conflict

Information Management Systems

Control: Purpose, Process, and Techniques

Filters

Exam 4: Planning and Strategy

Events such as the terrorist attacks of September 11 have little effect on the mission of companies such as Delta Air Lines.

A plan provides specific answers to all of the questions except:

A cost-leadership strategy is one focused on keeping costs as low as possible through efficient operations and loose controls.

Match the options below with the correct phrases: -cost-leadership strategy

A course of action created to achieve a long-term goal is called a _________,while a course of action designed to achieve a short-term goal is considered a __________.

Match the options below with the correct phrase: -(BCG)Matrix star

The financial strategy of a firm involves decisions about the action to be taken with profits,how funds will be spend or invested,and how any additional funds will be raised.

The final step in the basic planning process is ____________.

Procedures spell out the "____________" for a task or function.

Strategic planning applies only to large corporations,not smaller firms.

Policies,procedures,and rules can apply to many different organizational activities.

Capturing a larger portion of an existing product market would be considered a(n)____________.

Buying real estate properties for future store locations is a retrenchment strategy.

Manufacturers of sporting shoes use focus strategies.

Match the options below with the correct phrases: -growth strategy

Tactics influence and often dictate the choice of strategies.

Strategic business units are autonomous businesses with their own identities but operate within the framework of many organizations.

According to management guru Peter Drucker,a mission statement should answer,"What is our business? What should it be?"

Defender strategy means capturing more market share.

Strategy objectives for human resources include all of the following except ____________.

Management: An Overview

Management Thought: Past and Present

The Managers Environment

Managements Commitments to Quality and Productivity

Making Decisions

Organizing Principles

Organizational Design, Culture, and Change

Management Ethics and Social Responsibility

Staffing the Workforce

Communication: Interpersonal and Organizational

Human Motivation

Leadership

Team Management and Conflict

Information Management Systems

Control: Purpose, Process, and Techniques

Filters

A course of action created to achieve a long-term goal is called a _,while a course of action designed to achieve a short-term goal is considered a __.