Question 1

Standing plans are useful in situations that are unusual or situations that are one-of-a-kind.

Accepted Answer

A) True 
 B)False

Question 2

Entering a new business or industry to create a competitive advantage in one or more of an organization's existing divisions or businesses is called _____.

Accepted Answer

A)  related diversification strategy 
B)  international expansion strategy 
C)  low-cost strategy 
D)  concentration on a single industry 
E)  unrelated diversification strategy 
A)  related diversification strategy 
B)  international expansion strategy 
C)  low-cost strategy 
D)  concentration on a single industry 
E)  unrelated diversification strategy

Question 3

The ability of the CEO and top managers to convey to their subordinates a compelling vision of what they want the organization to achieve is called strategic leadership.

Accepted Answer

A) True 
 B)False

Question 4

A firm has a formal, written guide regarding its zero-tolerance attitude toward sexual harassment and the consequences of its violation. By definition, this is a _____ of the firm.

Accepted Answer

A)  standing plan 
B)  mission statement 
C)  policy 
D)  rule 
E)  norm 
A)  standing plan 
B)  mission statement 
C)  policy 
D)  rule 
E)  norm

Question 5

According to an organization's SWOT analysis, which of the following would be a potential strength?

Accepted Answer

A)  The organization has the potential to break the barriers of entry to a new market. 
B)  The organization has the highest profit margin in its market. 
C)  The organization's research and development sector is on the decline. 
D)  The organization's customer preferences are rapidly changing. 
E)  There is a lack of cooperation between the organization's various divisions. 
A)  The organization has the potential to break the barriers of entry to a new market. 
B)  The organization has the highest profit margin in its market. 
C)  The organization's research and development sector is on the decline. 
D)  The organization's customer preferences are rapidly changing. 
E)  There is a lack of cooperation between the organization's various divisions.

Question 6

_____ is the final step in implementing strategy.

Accepted Answer

A)  Drafting detailed action plans that specify how a strategy is to be implemented 
B)  Allocating responsibility for implementation to the appropriate individuals or groups 
C)  Establishing a timetable for implementation that includes precise, measurable goals linked to the attainment of the action plan 
D)  Holding specific individuals or groups responsible for the attainment of corporate, divisional, and functional goals 
E)  Allocating appropriate resources to the responsible individuals or groups 
A)  Drafting detailed action plans that specify how a strategy is to be implemented 
B)  Allocating responsibility for implementation to the appropriate individuals or groups 
C)  Establishing a timetable for implementation that includes precise, measurable goals linked to the attainment of the action plan 
D)  Holding specific individuals or groups responsible for the attainment of corporate, divisional, and functional goals 
E)  Allocating appropriate resources to the responsible individuals or groups

Question 7

An organization attempting to succeed by distinguishing its products from those of the competition is most likely to use a(n) _____.

Accepted Answer

A)  differentiation strategy 
B)  low-cost strategy 
C)  diversification strategy 
D)  stuck-in-the-middle strategy 
E)  association strategy 
A)  differentiation strategy 
B)  low-cost strategy 
C)  diversification strategy 
D)  stuck-in-the-middle strategy 
E)  association strategy

Question 8

Programs and projects are examples of standing plans.

Accepted Answer

A) True 
 B)False

Question 9

A group of managers analyze both the internal strengths and weaknesses of their organization as well as the opportunities and threats of the external environment. What type of analysis is this?

Accepted Answer

A)  Mission analysis 
B)  SWOT analysis 
C)  Functional analysis 
D)  Diversification analysis 
E)  Competition analysis 
A)  Mission analysis 
B)  SWOT analysis 
C)  Functional analysis 
D)  Diversification analysis 
E)  Competition analysis

Question 10

The duration over which a plan is intended to be applied or endured is called _____.

Accepted Answer

A)  an event compass 
B)  goal duration 
C)  plan endurance 
D)  target visibility 
E)  a time horizon 
A)  an event compass 
B)  goal duration 
C)  plan endurance 
D)  target visibility 
E)  a time horizon

Question 11

A brand of cereal attracts customers by offering the lowest prices among other brands of cereals. The company uses a differentiation strategy in this situation.

Accepted Answer

A) True 
 B)False

Question 12

Synergy is obtained when the value created by two divisions operated separately and independently is greater than the value that would be created by two divisions cooperating.

Accepted Answer

A) True 
 B)False

Question 13

In a typical organization, corporate-level planning is the primary responsibility of divisional heads.

Accepted Answer

A) True 
 B)False

Question 14

A specific action plan created to complete various aspects of a program is called a project.

Accepted Answer

A) True 
 B)False

Question 15

When considering vertical integration as a strategy to add value, managers must be careful because sometimes it may reduce a company's ability to create value when the environment changes.

Accepted Answer

A) True 
 B)False

Question 16

Nokia has established production operations in foreign countries to sell its phones in those regions. The production operations perform as separate entities without any local direct involvement. These production operations are _____ of Nokia.

Accepted Answer

A)  joint ventures 
B)  acquisitions 
C)  wholly owned subsidiaries 
D)  mergers 
E)  hostile takeovers 
A)  joint ventures 
B)  acquisitions 
C)  wholly owned subsidiaries 
D)  mergers 
E)  hostile takeovers

Question 17

Two divisions of a company decide to use the same manufacturing facilities to capitalize on the organization's excess capacity and reduce fixed costs. This is an example of _____.

Accepted Answer

A)  concentration 
B)  rivalry 
C)  counteraction 
D)  adversity 
E)  synergy 
A)  concentration 
B)  rivalry 
C)  counteraction 
D)  adversity 
E)  synergy

Question 18

An agreement in which managers pool or share their organization's resources and know-how with a foreign company, and the two organizations share the rewards and risks of starting a new venture is called a(n) _____.

Accepted Answer

A)  takeover agreement 
B)  franchise sharing 
C)  license lending 
D)  strategic alliance 
E)  foreign subsidiary 
A)  takeover agreement 
B)  franchise sharing 
C)  license lending 
D)  strategic alliance 
E)  foreign subsidiary

Question 19

_____ are used in situations in which programmed decision making is appropriate.

Accepted Answer

A)  Single-use plans 
B)  Functional plans 
C)  Rolling plans 
D)  Scenario plans 
E)  Standing plans 
A)  Single-use plans 
B)  Functional plans 
C)  Rolling plans 
D)  Scenario plans 
E)  Standing plans

Question 20

In performing a SWOT analysis, a furniture company realized that the number of competing firms in its industry was increasing. The company would classify this as a(n) _____.

Accepted Answer

A)  strength 
B)  weakness 
C)  opportunity 
D)  threat 
E)  advantage 
A)  strength 
B)  weakness 
C)  opportunity 
D)  threat 
E)  advantage

Standing plans are useful in situations that are unusual or situations that are one-of-a-kind.

Entering a new business or industry to create a competitive advantage in one or more of an organization's existing divisions or businesses is called _____.

The ability of the CEO and top managers to convey to their subordinates a compelling vision of what they want the organization to achieve is called strategic leadership.

A firm has a formal, written guide regarding its zero-tolerance attitude toward sexual harassment and the consequences of its violation. By definition, this is a _____ of the firm.

According to an organization's SWOT analysis, which of the following would be a potential strength?

_____ is the final step in implementing strategy.

An organization attempting to succeed by distinguishing its products from those of the competition is most likely to use a(n) _____.

Programs and projects are examples of standing plans.

A group of managers analyze both the internal strengths and weaknesses of their organization as well as the opportunities and threats of the external environment. What type of analysis is this?

The duration over which a plan is intended to be applied or endured is called _____.

A brand of cereal attracts customers by offering the lowest prices among other brands of cereals. The company uses a differentiation strategy in this situation.

Synergy is obtained when the value created by two divisions operated separately and independently is greater than the value that would be created by two divisions cooperating.

In a typical organization, corporate-level planning is the primary responsibility of divisional heads.

A specific action plan created to complete various aspects of a program is called a project.

When considering vertical integration as a strategy to add value, managers must be careful because sometimes it may reduce a company's ability to create value when the environment changes.

Nokia has established production operations in foreign countries to sell its phones in those regions. The production operations perform as separate entities without any local direct involvement. These production operations are _____ of Nokia.

Two divisions of a company decide to use the same manufacturing facilities to capitalize on the organization's excess capacity and reduce fixed costs. This is an example of _____.

An agreement in which managers pool or share their organization's resources and know-how with a foreign company, and the two organizations share the rewards and risks of starting a new venture is called a(n) _____.

_____ are used in situations in which programmed decision making is appropriate.

In performing a SWOT analysis, a furniture company realized that the number of competing firms in its industry was increasing. The company would classify this as a(n) _____.

Managers and Managing

The Evolution of Management

Values, Attitudes, Emotions, and Culture: The Manager As a Person

Ethics and Social Responsibility

Managing Diverse Employees in a Multicultural Environment

Managing in the Global Environment

Decision Making, Learning, Creativity, and Entrepreneurship

Value Chain Management: Functional Strategies for Competitive Advantage

Managing Organizational Structure and Culture

Organizational Control and Change

Human Resource Management

Motivation Performance

Leadership

Effective Groups and Teams

Promoting Effective Communication

Managing Conflict, Politics, and Negotiation

Used Advanced Information Technology to Increase Performance

Filters

Exam 8: The Manager As a Planner and a Strategist

Standing plans are useful in situations that are unusual or situations that are one-of-a-kind.

Entering a new business or industry to create a competitive advantage in one or more of an organization's existing divisions or businesses is called _____.

The ability of the CEO and top managers to convey to their subordinates a compelling vision of what they want the organization to achieve is called strategic leadership.

A firm has a formal, written guide regarding its zero-tolerance attitude toward sexual harassment and the consequences of its violation. By definition, this is a _____ of the firm.

According to an organization's SWOT analysis, which of the following would be a potential strength?

_____ is the final step in implementing strategy.

An organization attempting to succeed by distinguishing its products from those of the competition is most likely to use a(n) _____.

Programs and projects are examples of standing plans.

A group of managers analyze both the internal strengths and weaknesses of their organization as well as the opportunities and threats of the external environment. What type of analysis is this?

The duration over which a plan is intended to be applied or endured is called _____.

A brand of cereal attracts customers by offering the lowest prices among other brands of cereals. The company uses a differentiation strategy in this situation.

Synergy is obtained when the value created by two divisions operated separately and independently is greater than the value that would be created by two divisions cooperating.

In a typical organization, corporate-level planning is the primary responsibility of divisional heads.

A specific action plan created to complete various aspects of a program is called a project.

When considering vertical integration as a strategy to add value, managers must be careful because sometimes it may reduce a company's ability to create value when the environment changes.

Nokia has established production operations in foreign countries to sell its phones in those regions. The production operations perform as separate entities without any local direct involvement. These production operations are _____ of Nokia.

Two divisions of a company decide to use the same manufacturing facilities to capitalize on the organization's excess capacity and reduce fixed costs. This is an example of _____.

An agreement in which managers pool or share their organization's resources and know-how with a foreign company, and the two organizations share the rewards and risks of starting a new venture is called a(n) _____.

_____ are used in situations in which programmed decision making is appropriate.

In performing a SWOT analysis, a furniture company realized that the number of competing firms in its industry was increasing. The company would classify this as a(n) _____.

Managers and Managing

The Evolution of Management

Values, Attitudes, Emotions, and Culture: The Manager As a Person

Ethics and Social Responsibility

Managing Diverse Employees in a Multicultural Environment

Managing in the Global Environment

Decision Making, Learning, Creativity, and Entrepreneurship

Value Chain Management: Functional Strategies for Competitive Advantage

Managing Organizational Structure and Culture

Organizational Control and Change

Human Resource Management

Motivation Performance

Leadership

Effective Groups and Teams

Promoting Effective Communication

Managing Conflict, Politics, and Negotiation

Used Advanced Information Technology to Increase Performance

Filters