Question 1

The three levels of planning coordinate with the three levels of

Accepted Answer

A) competition. 
B) stakeholders. 
C) profit. 
D) production. 
E) management. 
A) competition. 
B) stakeholders. 
C) profit. 
D) production. 
E) management. E

Question 2

Scenario A: The Ascent,a mountain bicycle manufacturer,has been in the bicycle industry for a year now.The CEO wishes to better the company.He starts by looking at the sales records of the year that they have been in business and notices that the company's sales have been declining at a steady pace for the past six months and that at present they are selling only half as many bicycles as they want to.In an attempt to increase sales,he either wants to bring down the prices of his bicycles or expand the company by opening a new branch in another area.The CEO shares his views with the sales manager and finance managers.Together they decide that reducing the prices would definitely increase sales,although the profits would come down.They also determine that opening a new branch would only increase expenses.They conclude that they will reduce the prices of the bicycles.The plan is implemented and the CEO keeps a record of the sales every month to make sure the change is effective.
-Which of the following steps in the basic planning process do the managers of The Assent perform by deciding to reduce prices?

Accepted Answer

A) situational analysis 
B) alternative goals and plans 
C) goal and plan selection 
D) monitor and control 
E) implementation 
A) situational analysis 
B) alternative goals and plans 
C) goal and plan selection 
D) monitor and control 
E) implementation C

Question 3

Operational planning is done by ________ managers.

Accepted Answer

A) frontline 
B) strategic 
C) tactical 
D) top-level 
E) middle 
A) frontline 
B) strategic 
C) tactical 
D) top-level 
E) middle A

Question 4

Provide two examples of businesses that practice low-cost strategies and two examples of businesses that practice differentiation strategies.

Accepted Answer

Student answers will vary and should ref

Question 5

Explain what traditional strategic planning was and how it is different in today's business environment.

Accepted Answer

Student answers will vary,but should dem

Question 6

Summarize the six basic steps in a formal planning process.

Accepted Answer

Student answers will vary,but should dem

Question 7

A ________ strategy focuses on a single business competing in a single industry.

Accepted Answer

A) concentration 
B) vertical integration 
C) concentric diversification 
D) conglomerate diversification 
E) focal integration 
A) concentration 
B) vertical integration 
C) concentric diversification 
D) conglomerate diversification 
E) focal integration

Question 8

________ are inputs to production that can be accumulated over time to enhance the performance of a firm.

Accepted Answer

A) Strategies 
B) Core capabilities 
C) Resources 
D) Benchmarks 
E) Patents 
A) Strategies 
B) Core capabilities 
C) Resources 
D) Benchmarks 
E) Patents

Question 9

The Boston Consulting Group Matrix helps managers evaluate their strategy alternatives for the entire business portfolio.

Accepted Answer

A) True 
 B)False

Question 10

Scenario A: The Ascent,a mountain bicycle manufacturer,has been in the bicycle industry for a year now.The CEO wishes to better the company.He starts by looking at the sales records of the year that they have been in business and notices that the company's sales have been declining at a steady pace for the past six months and that at present they are selling only half as many bicycles as they want to.In an attempt to increase sales,he either wants to bring down the prices of his bicycles or expand the company by opening a new branch in another area.The CEO shares his views with the sales manager and finance managers.Together they decide that reducing the prices would definitely increase sales,although the profits would come down.They also determine that opening a new branch would only increase expenses.They conclude that they will reduce the prices of the bicycles.The plan is implemented and the CEO keeps a record of the sales every month to make sure the change is effective.
-Which of the following steps in the basic planning process does the CEO perform by checking the past years sales records?

Accepted Answer

A) monitor and control 
B) implementation 
C) goal and plan selection 
D) situational analysis 
E) goal and plan evaluation 
A) monitor and control 
B) implementation 
C) goal and plan selection 
D) situational analysis 
E) goal and plan evaluation

Question 11

Operational planning identifies the specific procedures and processes required ________ of an organization.

Accepted Answer

A) by the external relationships 
B) by the internal structure 
C) at the lower levels 
D) at the middle levels 
E) at the upper levels 
A) by the external relationships 
B) by the internal structure 
C) at the lower levels 
D) at the middle levels 
E) at the upper levels

Question 12

A technique for assessing an organization's internal and external environments in order to formulate strategy is called a

Accepted Answer

A) BCG Matrix. 
B) SWOT analysis. 
C) benchmarking strategy. 
D) diversification exercise. 
E) functional strategy. 
A) BCG Matrix. 
B) SWOT analysis. 
C) benchmarking strategy. 
D) diversification exercise. 
E) functional strategy.

Question 13

Scenario D: A global cosmetics company called Nature's Beauty is considering its corporate strategy.Several members of its board of directors believe they have the "perfect" strategy for the company.Bill believes that the best option is for Nature's Beauty to stay on its current track of offering only organic cosmetics to customers who like organic products.Chita wants the company to expand by purchasing the manufacturing plants that produce the Nature's Beauty products.Another director,Manuel,wants to build the company by adding related products,such as skin care and perfume,to be sold alongside its current products.Finally,the original owner of the company,Nuri,wants to expand the company by doing something completely new,such as building restaurants or perhaps starting an entertainment park.
-Which of the following corporate strategies does Chita favor?

Accepted Answer

A) concentration 
B) vertical integration 
C) lateral diversification 
D) differentiation 
E) conglomerate diversification 
A) concentration 
B) vertical integration 
C) lateral diversification 
D) differentiation 
E) conglomerate diversification

Question 14

The final step in the formal planning process-monitoring and controlling-is overemphasized by many companies.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following corporate strategies is being employed when a large grocery store purchases a dairy farm to supply all of the store-brand milk,yogurt,butter,and cheese?

Accepted Answer

A) differentiation strategy 
B) conglomerate diversification 
C) vertical integration 
D) low-cost strategy 
E) functional strategy 
A) differentiation strategy 
B) conglomerate diversification 
C) vertical integration 
D) low-cost strategy 
E) functional strategy

Question 16

A corporate strategy is defined as the major actions by which a business competes in a particular industry or market.

Accepted Answer

A) True 
 B)False

Question 17

A strategy used to add new businesses that produce unrelated products or are involved in unrelated markets and activities is called a ________ strategy.

Accepted Answer

A) concentration 
B) vertical integration 
C) concentric diversification 
D) conglomerate diversification 
E) differentiation 
A) concentration 
B) vertical integration 
C) concentric diversification 
D) conglomerate diversification 
E) differentiation

Question 18

The actions or means managers intend to use to achieve organizational goals are called

Accepted Answer

A) visions. 
B) scenarios. 
C) benchmarks. 
D) plans. 
E) missions. 
A) visions. 
B) scenarios. 
C) benchmarks. 
D) plans. 
E) missions.

Question 19

Marcela's Mini Pizzas tries to offer higher-quality food products,more product variety,and wider distribution than its competitors do.What business strategy is Marcela's Mini Pizzas pursuing?

Accepted Answer

A) conglomerate diversification 
B) differentiation strategy 
C) vertical integration 
D) concentration strategy 
E) lateral diversification 
A) conglomerate diversification 
B) differentiation strategy 
C) vertical integration 
D) concentration strategy 
E) lateral diversification

Question 20

Scenario D: A global cosmetics company called Nature's Beauty is considering its corporate strategy.Several members of its board of directors believe they have the "perfect" strategy for the company.Bill believes that the best option is for Nature's Beauty to stay on its current track of offering only organic cosmetics to customers who like organic products.Chita wants the company to expand by purchasing the manufacturing plants that produce the Nature's Beauty products.Another director,Manuel,wants to build the company by adding related products,such as skin care and perfume,to be sold alongside its current products.Finally,the original owner of the company,Nuri,wants to expand the company by doing something completely new,such as building restaurants or perhaps starting an entertainment park.
-Which of the following corporate strategies is Bill advocating?

Accepted Answer

A) concentration 
B) vertical integration 
C) concentric diversification 
D) differentiation 
E) conglomerate diversification 
A) concentration 
B) vertical integration 
C) concentric diversification 
D) differentiation 
E) conglomerate diversification

The three levels of planning coordinate with the three levels of

Operational planning is done by ________ managers.

Provide two examples of businesses that practice low-cost strategies and two examples of businesses that practice differentiation strategies.

Explain what traditional strategic planning was and how it is different in today's business environment.

Summarize the six basic steps in a formal planning process.

A ________ strategy focuses on a single business competing in a single industry.

________ are inputs to production that can be accumulated over time to enhance the performance of a firm.

The Boston Consulting Group Matrix helps managers evaluate their strategy alternatives for the entire business portfolio.

Operational planning identifies the specific procedures and processes required ________ of an organization.

A technique for assessing an organization's internal and external environments in order to formulate strategy is called a

The final step in the formal planning process-monitoring and controlling-is overemphasized by many companies.

Which of the following corporate strategies is being employed when a large grocery store purchases a dairy farm to supply all of the store-brand milk,yogurt,butter,and cheese?

A corporate strategy is defined as the major actions by which a business competes in a particular industry or market.

A strategy used to add new businesses that produce unrelated products or are involved in unrelated markets and activities is called a ________ strategy.

The actions or means managers intend to use to achieve organizational goals are called

Marcela's Mini Pizzas tries to offer higher-quality food products,more product variety,and wider distribution than its competitors do.What business strategy is Marcela's Mini Pizzas pursuing?

Managing and Performing

The External and Internal Environments

Managerial Decision Making

Ethics, corporate Responsibility, and Sustainability

International Management

Entrepreneurship

Organization Structure

Organizational Agility

Human Resources Management

Managing the Diverse Workforce

Leadership

Motivating for Performance

Teamwork

Communicating

Managerial Control

Managing Technology and Innovation

Creating and Leading Change

Filters

Exam 4: Planning and Strategic Management

The three levels of planning coordinate with the three levels of

Operational planning is done by ________ managers.

Provide two examples of businesses that practice low-cost strategies and two examples of businesses that practice differentiation strategies.

Explain what traditional strategic planning was and how it is different in today's business environment.

Summarize the six basic steps in a formal planning process.

A ________ strategy focuses on a single business competing in a single industry.

________ are inputs to production that can be accumulated over time to enhance the performance of a firm.

The Boston Consulting Group Matrix helps managers evaluate their strategy alternatives for the entire business portfolio.

Operational planning identifies the specific procedures and processes required ________ of an organization.

A technique for assessing an organization's internal and external environments in order to formulate strategy is called a

The final step in the formal planning process-monitoring and controlling-is overemphasized by many companies.

Which of the following corporate strategies is being employed when a large grocery store purchases a dairy farm to supply all of the store-brand milk,yogurt,butter,and cheese?

A corporate strategy is defined as the major actions by which a business competes in a particular industry or market.

A strategy used to add new businesses that produce unrelated products or are involved in unrelated markets and activities is called a ________ strategy.

The actions or means managers intend to use to achieve organizational goals are called

Marcela's Mini Pizzas tries to offer higher-quality food products,more product variety,and wider distribution than its competitors do.What business strategy is Marcela's Mini Pizzas pursuing?

Managing and Performing

The External and Internal Environments

Managerial Decision Making

Ethics, corporate Responsibility, and Sustainability

International Management

Entrepreneurship

Organization Structure

Organizational Agility

Human Resources Management

Managing the Diverse Workforce

Leadership

Motivating for Performance

Teamwork

Communicating

Managerial Control

Managing Technology and Innovation

Creating and Leading Change

Filters