Exam 5: Foundations of Planning

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

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

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

Strategic management is the act of figuring out how an organization will compete in the marketplace and attract loyal customers.

Which of the following best defines goals?

"Build a better mousetrap" is a way of describing a competitive advantage.

The first step in the six-step strategic management process is to ________.

Growth strategies include ________.

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

The breadth of a plan refers to ________ concerns.

The final three steps in the strategic management process involve the creation and implementation of strategies for realizing organizational goals.

According to Michael Porter, a company with good products that has no clear competitive advantage is said to be ________.

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

Two companies that both sell fine time pieces combine.What are they doing?

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

One criticism of formal planning is that it focuses on how to beat the competition rather than how to ________.

A focus strategy seeks to appeal to a narrow segment of a market.

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

The key to MBO, or management by objectives, is that managers and subordinates mutually agree on goals.

Tactical plans are operational plans that identify ________.