Exam 5: Planning and Decision Making

TJ said it did not matter which way the company went because one had a 40% loss and the other had a 60% profit last year. TJ was displaying the bias of

Gallaway Inc. recently decided to expand from its original base in real estate to several wide-ranging industries such as trucking, lawn mower manufacturing, and catering. Gallaway is using the _____ corporate strategy.

According to the _____ plan of Neon Inc., if expansion to new markets in Australia does not materialize, the company will strive for expansion in Asia.

In the context of the BCG matrix, a star represents a company

In the context of managerial decision making, decision evaluation is useful

A plan to integrate employees into a new payroll system, assuming that it is not likely to be repeated in the foreseeable future, is an example of a _____ plan.

The most effective strategy that can be adopted by strategy managers is one that

In the context of the strategic planning process, a critical task in environmental analysis is _____ future trends.

In an effort to combat groupthink and an overall lack of creativity, the group leader assigned Jennifer the job of criticizing ideas, for the sake of argument, throughout the meeting. Jennifer is playing the role of a

List and describe the four related steps involved in strategy implementation.

When a problem is frequent, repetitive, and routine, with much certainty regarding cause-and-effect relationships, a _____ decision may be taken.

A company recently made changes to its organizational structure. While deciding upon the changes to be implemented, the company invited many employees to discuss the issue with the senior management. This enabled the employees to hear the relevant arguments both for the chosen alternative and against the rejected alternatives. An advantage of using employees in the group discussion was that

Which of the following is true of managerial decision making?

Using examples, explain what is meant by "all levels of planning should be aligned"?

What are the major functional areas used to support the business strategy? Give examples.

________________ is a psychological bias that applies to students who do not spend sufficient time studying.

Discounting the future refers to

A meeting was being held at a company, and was attended by five executives. A decision needed to be made about the following year's marketing campaign. Paul, an outspoken and aggressive person, insisted that his ideas be followed since there could not be a better alternative. No one else contributed to the discussion, and Paul's views were accepted. This group discussion suffered from

In the context of the given scenario, which of the following is a threat for Raney Pharmaceuticals Corp.?

Which stage of the planning process is Jekyll Corp. involved in if it is assessing how well alternative plans meet high-priority goals while considering the cost of each initiative and the likely investment return?