Exam 8: The Manager As a Planner and a Strategist

Though not formally written, an organization allows its employees to dress casually on Fridays.This is a(n) _____ of the organization.

Cameo Ltd., a record label company, subsequently entered the airline industry to expand business.This example of a record label company entering the airline industry is an example of

Focused low-cost strategy serves a major segment of the overall market and tries to be the lowest-cost organization in the entire market.

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

Japanese consumer electronics company Sony Corporation and the Swedish telecommunications company Ericsson combining a part of their resources to manufacture mobile phones is an example of a(n)

Employees tend to be motivated and perform better if they are taken in by the vision of the top managers of their organizations.It therefore becomes essential for top managers to develop a strong sense of

Define the three levels of planning and their respective strategies.For an organization of choice, give an example of a strategy that can be applied at each level.

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

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

Planning is important for an organization since a plan can be used as a device for controlling managers within an organization.

______ is the first step in implementing a strategy.

In order to cater to local tastes and culinary traditions, and often in respect of particular laws or religious beliefs, McDonald's offers customized versions of its menu to suit different countries.This is an example of a(n) _______ strategy.

Another name for contingency planning is ________ planning.

After defining new corporate strategies to accomplish the organization's mission and goals, managers face the challenge of

A _____ plan enables managers to make midcourse corrections if environmental changes warrant or to change the thrust of the plan altogether if it no longer seems appropriate.

_____ raises costs and forces companies to raise the prices of their products.

_____ strategy is a plan of action to improve the ability of each of an organization's functions to perform its task-specific activities in ways that add value to an organization's goods and services.

In a ____________, 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.

As the managers plan for the future, they want to be able to handle unexpected circumstances.They are developing backup plans with alternative courses of action in case conditions change.This is an example of

In large organizations the functional level of management is also known as the _____ of management.