Exam 4: Strategic and Operational Planning

The __________ strategy involves moving into new market areas at a cautious,deliberate pace and/or offering a core product group and seeking new opportunities.

Objectives state what is to be accomplished in singular,specific,and measurable terms with a target date.

__________ is the process in which managers and their employees jointly set objectives for the employees,periodically evaluate performance,and reward according to the results.

Does a business you work for or have worked for have one or multiple lines of business? List the line(s).

With a __________ strategy,the company attempts to reverse a declining business as quickly as possible.

Campbell's Soup is selling many unrelated product lines to concentrate on its soup-related products.Which of the following adaptive strategies does this represent?

Identify the stage in the product life cycle of one of the products of an organization you work or have worked for.Is the strategy you identified in Work Application 7 the appropriate strategy for this product at this stage of the product life cycle? Explain your answers.

Should a mission statement be customer-focused?

The factory where Dave works has a sign that says "Employees cannot have weapons on company premises." Which of the following types of plans is this statement?

Grand strategy is an overall strategy for growth,stability,or turnaround and retrenchment,or for some combination of these.

What is the difference between standing plans and single-use plans?

List a few major controls you will use after implementing each strategy.

Is it ethical to copy other companies' ideas through benchmarking?

Management by objectives (MBO)is the process in which managers set objectives for their employees,periodically evaluate the performance,and reward according to the results.

A spinoff is a form of retrenchment in which a corporation sets up one or more of its business or units as a separate company rather than selling it.

An effective objective contains a(n):

With a focus strategy,the company focuses on a specific regional market,product line,or buyer group.

Identify your university/college or school/department's: A.Grand strategy B.Adaptive strategy C.Competitive strategy

Donna Karan Designs is trying to decide if it should open its own stores instead of just designing women's clothing.Which type of growth strategy would this be classified as?

Mass Mutual Life Insurance Co.has a plan whereby employees visit the local schools to help students to read.Which of the following best describes this type of plan?