Exam 8: The Manager As a Planner and a Strategist

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 _____.

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 managers of an organization develop a single, well-researched, and effective plan to complete a set of tasks. Which of the following qualities, according to Henry Fayol, does this plan have?

There is constant, fierce competition between telecommunication companies due to the continuous advances in mobile technology and a wide range of customers tastes. This is called _____.

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

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

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.

The mission statements of organizations in the same market will typically be the same.

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

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 _____.

The second and intermediate step in an organization's planning process is to analyze the current situation and develop a strategy which is also called strategy formulation.

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

Discuss the five steps involved in implementing an organizational strategy.

The method of international expansion which presents managers with many threats and is the most expensive due to the high level of foreign investment is the method of international expansion through _____.

Differentiate between the main types of business-level strategies by explaining how they give an organization a competitive advantage.

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.

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

It is impossible for an organization to have both, low-cost as well as differentiated products.

The possibility of expanding into a global market is a potential weakness of an organization.

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