Exam 8: The Manager As a Planner and a Strategist

A furniture company is trying to keep the costs of the company low by switching its suppliers and ordering materials in larger quantities to reduce overall costs. The company is employing a _____.

Functional goals and strategies should be independent of divisional and corporate goals and strategies.

Another name for contingency planning is _____.

In performing a SWOT analysis, a firm realized that its managers were untrained to handle the requirements of its new division. The firm would classify this as a(n) _____.

According to Henry Fayol, _____ means that managers need to make every attempt to collect and use all available information in the organization's planning process.

The final step in the planning process of an organization is to determine the organization's mission and goals.

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 strategic alliance.

Divisional managers' decisions pertaining to divisions' long-term goals, overall strategy, and structure is called an organization's _____ plan.

A written set of instructions that describes the series of actions that a manager should take in a specific situation is called the standing operating procedure (SOP) of an organization.

Which method of international expansion poses the least amount of risk?

Which of the following can be defined as a threat according to the five forces model?

Selling the same standardized product and using the same basic marketing approach in each national market is called multidomestic strategy.