Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Which type of planning does the textbook focus on?

Accepted Answer

A) Informal 
B) Primary 
C) Formal 
D) Secondary 
A) Informal 
B) Primary 
C) Formal 
D) Secondary

Question 3

Which of the following is a competitive strategy?

Accepted Answer

A) Differentiation 
B) Growth 
C) Renewal 
D) Stability 
A) Differentiation 
B) Growth 
C) Renewal 
D) Stability

Question 4

In traditional goal setting, goals often become _________ as they become subgoals.

Accepted Answer

A) less clear 
B) more meaningful 
C) broader 
D) stricter 
A) less clear 
B) more meaningful 
C) broader 
D) stricter

Question 5

Standing plans typically can be used _________.

Accepted Answer

A) less than ten times 
B) only in conjunction with specific, long-term plans 
C) repeatedly 
D) less than five times 
A) less than ten times 
B) only in conjunction with specific, long-term plans 
C) repeatedly 
D) less than five times

Question 6

Planning gives organisations a way to deal with change that _________.

Accepted Answer

A) reduces certainty 
B) increases ambiguity 
C) reduces uncertainty 
D) eliminates all uncertainty 
A) reduces certainty 
B) increases ambiguity 
C) reduces uncertainty 
D) eliminates all uncertainty

Question 7

Planning gives organisations direction that primarily helps them improve _________.

Accepted Answer

A) morale of all employees 
B) teamwork and coordinate activities 
C) morale of middle managers 
D) their image in the business community 
A) morale of all employees 
B) teamwork and coordinate activities 
C) morale of middle managers 
D) their image in the business community

Question 8

SWOT analysis identifies and analyses an organisation's _________.

Accepted Answer

A) human resource assets 
B) opportunities, threats, weaknesses and strengths 
C) long-term goals 
D) strategy for competing in the market 
A) human resource assets 
B) opportunities, threats, weaknesses and strengths 
C) long-term goals 
D) strategy for competing in the market

Question 9

Two movie studios combining to form one larger studio is an example of which of the following?

Accepted Answer

A) Forward vertical integration 
B) Backward vertical integration 
C) Diversification 
D) Horizontal integration 
A) Forward vertical integration 
B) Backward vertical integration 
C) Diversification 
D) Horizontal integration

Question 10

Competitive advantages for a high-prestige, premium coffee franchise like Gloria Jean's are likely to include all of the following except _________.

Accepted Answer

A) high quality 
B) pleasant venues 
C) lowest prices 
D) well-trained employees 
A) high quality 
B) pleasant venues 
C) lowest prices 
D) well-trained employees

Question 11

Which term refers to an organisation's capital, workers and patents?

Accepted Answer

A) Core competencies 
B) Competitive advantage 
C) Internal strengths 
D) Resources 
A) Core competencies 
B) Competitive advantage 
C) Internal strengths 
D) Resources

Question 12

A major strength of formal planning is that it reinforces past successes and incorporates them into the future.

Accepted Answer

A) True 
 B)False

Question 13

The four reasons that organisations plan is to provide direction, set standards, reduce threat, and reduce uncertainty and the impact of change.

Accepted Answer

A) True 
 B)False

Question 14

All managers formally plan, however, few informally plan.

Accepted Answer

A) True 
 B)False

Question 15

The specificity of a plan refers to _________ concerns.

Accepted Answer

A) specific versus directional 
B) strategic versus tactical 
C) single use versus standing 
D) long-term versus short-term 
A) specific versus directional 
B) strategic versus tactical 
C) single use versus standing 
D) long-term versus short-term

Question 16

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

Accepted Answer

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

Question 17

Which of the following is an assumption of traditional goal setting?

Accepted Answer

A) Goals are mutually agreed upon 
B) Employees will be motivated by the goals 
C) Lower level managers will clarify goals for the top managers 
D) Top managers know what is best because they see the big picture 
A) Goals are mutually agreed upon 
B) Employees will be motivated by the goals 
C) Lower level managers will clarify goals for the top managers 
D) Top managers know what is best because they see the big picture

Question 18

How do real goals differ from stated goals?

Accepted Answer

A) Stated goals are written for the benefit of stakeholders 
B) Real goals are written for the benefit of stakeholders 
C) Real goals always differ from stated goals 
D) Stated goals are those actually pursued by the organisation 
A) Stated goals are written for the benefit of stakeholders 
B) Real goals are written for the benefit of stakeholders 
C) Real goals always differ from stated goals 
D) Stated goals are those actually pursued by the organisation

Question 19

Which of the following would you expect to find in a clothing store that follows a cost leadership strategy?

Accepted Answer

A) Pampered, personalised service 
B) Only finest, most expensive materials 
C) Basic, no frills and practical items 
D) State-of-the-art design 
A) Pampered, personalised service 
B) Only finest, most expensive materials 
C) Basic, no frills and practical items 
D) State-of-the-art design

Question 20

Discuss how Kraft Foods used big data to increase its sale of Vegemite.

Accepted Answer

Kraft Foods analysed 1.5 million posts a

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

Which type of planning does the textbook focus on?

Which of the following is a competitive strategy?

In traditional goal setting, goals often become _________ as they become subgoals.

Standing plans typically can be used _________.

Planning gives organisations a way to deal with change that _________.

Planning gives organisations direction that primarily helps them improve _________.

SWOT analysis identifies and analyses an organisation's _________.

Two movie studios combining to form one larger studio is an example of which of the following?

Competitive advantages for a high-prestige, premium coffee franchise like Gloria Jean's are likely to include all of the following except _________.

Which term refers to an organisation's capital, workers and patents?

A major strength of formal planning is that it reinforces past successes and incorporates them into the future.

The four reasons that organisations plan is to provide direction, set standards, reduce threat, and reduce uncertainty and the impact of change.

All managers formally plan, however, few informally plan.

The specificity of a plan refers to _________ concerns.

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

Which of the following is an assumption of traditional goal setting?

How do real goals differ from stated goals?

Which of the following would you expect to find in a clothing store that follows a cost leadership strategy?

Discuss how Kraft Foods used big data to increase its sale of Vegemite.

Managers and Management

The Managerial Environment

Foundations of Decision Making

Organisational Structure and Design

Managing Human Resources

Managing Change and Innovation

Foundations of Individual Behaviour

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Managing Communication and Information

Foundations of Control

Filters

Exam 4: Foundations of Planning

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

Which type of planning does the textbook focus on?

Which of the following is a competitive strategy?

In traditional goal setting, goals often become _________ as they become subgoals.

Standing plans typically can be used _________.

Planning gives organisations a way to deal with change that _________.

Planning gives organisations direction that primarily helps them improve _________.

SWOT analysis identifies and analyses an organisation's _________.

Two movie studios combining to form one larger studio is an example of which of the following?

Competitive advantages for a high-prestige, premium coffee franchise like Gloria Jean's are likely to include all of the following except _________.

Which term refers to an organisation's capital, workers and patents?

A major strength of formal planning is that it reinforces past successes and incorporates them into the future.

The four reasons that organisations plan is to provide direction, set standards, reduce threat, and reduce uncertainty and the impact of change.

All managers formally plan, however, few informally plan.

The specificity of a plan refers to _________ concerns.

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

Which of the following is an assumption of traditional goal setting?

How do real goals differ from stated goals?

Which of the following would you expect to find in a clothing store that follows a cost leadership strategy?

Discuss how Kraft Foods used big data to increase its sale of Vegemite.

Managers and Management

The Managerial Environment

Foundations of Decision Making

Organisational Structure and Design

Managing Human Resources

Managing Change and Innovation

Foundations of Individual Behaviour

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Managing Communication and Information

Foundations of Control

Filters