Question 1

Briefly describe the questions involved in formulating a mission statement.Provide an example of a real or fictitious mission statement.

Accepted Answer

When developing a mission statement, an

Question 2

In informal planning, goals are usually _________ shared with others in the organisation.

Accepted Answer

A) written, but little is 
B) written and much is 
C) unwritten, but much is 
D) unwritten and little is 
A) written, but little is 
B) written and much is 
C) unwritten, but much is 
D) unwritten and little is

Question 3

Explain the paradox of formal planning.In other words, how can it reinforce success, yet still lead to failure?

Accepted Answer

Success may breed failure in an uncertai

Question 4

Real goals are official statements of what an organisation says, and what it wants its stakeholders to believe, its goals are.

Accepted Answer

A) True 
 B)False

Question 5

Which answer choice is the correct goal setting sequence?

Accepted Answer

A) Identify goals, evaluate resources, communicate goals, link rewards to goals, build feedback mechanisms and review the mission and job tasks 
B) Review the mission and job tasks, evaluate resources, identify goals, communicate goals, build feedback mechanisms and link rewards to goals 
C) Identify goals, communicate goals, evaluate resources, link rewards to goals, build feedback mechanisms and review the mission and job tasks 
D) Link rewards to goals, evaluate resources, identify goals, communicate goals, review the mission and job tasks and build feedback mechanisms 
A) Identify goals, evaluate resources, communicate goals, link rewards to goals, build feedback mechanisms and review the mission and job tasks 
B) Review the mission and job tasks, evaluate resources, identify goals, communicate goals, build feedback mechanisms and link rewards to goals 
C) Identify goals, communicate goals, evaluate resources, link rewards to goals, build feedback mechanisms and review the mission and job tasks 
D) Link rewards to goals, evaluate resources, identify goals, communicate goals, review the mission and job tasks and build feedback mechanisms

Question 6

Briefly describe how a project manager develops a PERT network.

Accepted Answer

To develop a PERT network, a p

Question 7

An external analysis helps identify _________.

Accepted Answer

A) a company's opportunities and threats 
B) the financial ratios the company should use 
C) a company's strengths and weaknesses 
D) the short-term goals for a company 
A) a company's opportunities and threats 
B) the financial ratios the company should use 
C) a company's strengths and weaknesses 
D) the short-term goals for a company

Question 8

A company with a stability strategy will plan to dramatically increase market share in a highly competitive market.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

All of the following are components of a mission statement except _________.

Accepted Answer

A) customers 
B) markets 
C) sustainability 
D) technology 
A) customers 
B) markets 
C) sustainability 
D) technology

Question 11

A mission statement includes identification of an organisation's _________.

Accepted Answer

A) strengths and weaknesses 
B) directional and specific plans 
C) products and philosophy 
D) short-term and long-term plans 
A) strengths and weaknesses 
B) directional and specific plans 
C) products and philosophy 
D) short-term and long-term plans

Question 12

In general, upper-level managers focus on tactical or operational planning.

Accepted Answer

A) True 
 B)False

Question 13

Many organisations are finding that customers are increasingly making decisions based on a supplier's sustainability efforts.A major strength of formal planning is that it generally correlates with higher profits.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

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

Question 15

Strategic plans address _________.

Accepted Answer

A) overall organisational goals 
B) how a single goal is to be achieved 
C) how overall goals are to be achieved 
D) goals for a single branch of the organisation 
A) overall organisational goals 
B) how a single goal is to be achieved 
C) how overall goals are to be achieved 
D) goals for a single branch of the organisation

Question 16

One effect of planning on managers is that it forces them to _________.

Accepted Answer

A) ignore any change that does not directly affect them 
B) work to prevent change 
C) anticipate and consider the effect of change 
D) fear change 
A) ignore any change that does not directly affect them 
B) work to prevent change 
C) anticipate and consider the effect of change 
D) fear change

Question 17

This term describes an electric shaver company that carefully observes its competitor's production line to look for ways to improve its own manufacturing process.

Accepted Answer

A) Reverse marketing 
B) Trademarking 
C) Benchmarking 
D) Quality engineering 
A) Reverse marketing 
B) Trademarking 
C) Benchmarking 
D) Quality engineering

Question 18

Buying a competitor's product for evaluation is a form of environmental scanning.

Accepted Answer

A) True 
 B)False

Question 19

Directional plans leave no room for interpretation.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) create a win-win situation with the competition 
B) replicate the competitor's success 
C) have cordial relationships with the competition 
D) focus on new opportunities 
A) create a win-win situation with the competition 
B) replicate the competitor's success 
C) have cordial relationships with the competition 
D) focus on new opportunities

Briefly describe the questions involved in formulating a mission statement.Provide an example of a real or fictitious mission statement.

In informal planning, goals are usually _________ shared with others in the organisation.

Explain the paradox of formal planning.In other words, how can it reinforce success, yet still lead to failure?

Real goals are official statements of what an organisation says, and what it wants its stakeholders to believe, its goals are.

Which answer choice is the correct goal setting sequence?

Briefly describe how a project manager develops a PERT network.

An external analysis helps identify _________.

A company with a stability strategy will plan to dramatically increase market share in a highly competitive market.

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

All of the following are components of a mission statement except _________.

A mission statement includes identification of an organisation's _________.

In general, upper-level managers focus on tactical or operational planning.

Many organisations are finding that customers are increasingly making decisions based on a supplier's sustainability efforts.A major strength of formal planning is that it generally correlates with higher profits.

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

Strategic plans address _________.

One effect of planning on managers is that it forces them to _________.

This term describes an electric shaver company that carefully observes its competitor's production line to look for ways to improve its own manufacturing process.

Buying a competitor's product for evaluation is a form of environmental scanning.

Directional plans leave no room for interpretation.

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

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

Briefly describe the questions involved in formulating a mission statement.Provide an example of a real or fictitious mission statement.

In informal planning, goals are usually _________ shared with others in the organisation.

Explain the paradox of formal planning.In other words, how can it reinforce success, yet still lead to failure?

Real goals are official statements of what an organisation says, and what it wants its stakeholders to believe, its goals are.

Which answer choice is the correct goal setting sequence?

Briefly describe how a project manager develops a PERT network.

An external analysis helps identify _________.

A company with a stability strategy will plan to dramatically increase market share in a highly competitive market.

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

All of the following are components of a mission statement except _________.

A mission statement includes identification of an organisation's _________.

In general, upper-level managers focus on tactical or operational planning.

Many organisations are finding that customers are increasingly making decisions based on a supplier's sustainability efforts.A major strength of formal planning is that it generally correlates with higher profits.

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

Strategic plans address _________.

One effect of planning on managers is that it forces them to _________.

This term describes an electric shaver company that carefully observes its competitor's production line to look for ways to improve its own manufacturing process.

Buying a competitor's product for evaluation is a form of environmental scanning.

Directional plans leave no room for interpretation.

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

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