Question 1

In the context of the levels of planning, typical strategic goals involve:

Accepted Answer

A)  updating equipment used. 
B)  increasing market share. 
C)  advertising expenditures. 
D)  compliance with civil rights laws. 
E)  human resource utilization. 
A)  updating equipment used. 
B)  increasing market share. 
C)  advertising expenditures. 
D)  compliance with civil rights laws. 
E)  human resource utilization. B

Question 2

Use the paragraph given below to answer the following questions.
Scenario A. The senior management of Alpha Omega, Corp. have conducted a planning meeting. They need to make decisions about the following questions:
1. How many employees should be hired for the cafeteria this month?
2. Should the company expand into a new region in the next ten years?
3. How can the visibility of their marketing campaign be increased?
4. How can the biggest trucks in the business be scheduled for next week?
5. Should the company allow employees to work from home?
-The decision regarding the number of employees to be hired for the cafeteria is a part of operational planning because:

Accepted Answer

A)  it translates broad strategic goals and plans into specific goals and plans relevant to a particular portion of the organization. 
B)  it focuses on the major actions a unit must take to fulfill its part of the strategic plan. 
C)  it involves a specific procedure that is required at lower levels of the organization. 
D)  it involves making decisions about the organization's long-term goals and strategies. 
E)  it has a strong external orientation and covers major portions of the organization. 
A)  it translates broad strategic goals and plans into specific goals and plans relevant to a particular portion of the organization. 
B)  it focuses on the major actions a unit must take to fulfill its part of the strategic plan. 
C)  it involves a specific procedure that is required at lower levels of the organization. 
D)  it involves making decisions about the organization's long-term goals and strategies. 
E)  it has a strong external orientation and covers major portions of the organization. C

Question 3

The first step in strategy implementation involves articulating in simple language what a particular business must do to create or sustain a competitive advantage. This step is known as:

Accepted Answer

A)  assessing organizational capabilities. 
B)  developing an implementation agenda. 
C)  defining strategic tasks. 
D)  creating an implementation plan. 
E)  developing a mission statement. 
A)  assessing organizational capabilities. 
B)  developing an implementation agenda. 
C)  defining strategic tasks. 
D)  creating an implementation plan. 
E)  developing a mission statement. C

Question 4

In the context of decision making in groups, the job of a devil's advocate is to create potentially destructive conflict.

Accepted Answer

A) True 
 B)False

Question 5

In the context of a SWOT analysis, describe at least five elements of an environmental analysis.

Accepted Answer

The environmental analysis includes many

Question 6

The level of planning involving the longest time horizon, usually ranging from three to seven years, is:

Accepted Answer

A)  operational planning. 
B)  missionary planning. 
C)  tactical planning. 
D)  departmental planning. 
E)  strategic planning. 
A)  operational planning. 
B)  missionary planning. 
C)  tactical planning. 
D)  departmental planning. 
E)  strategic planning.

Question 7

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

Accepted Answer

A)  cannot be described in detail. 
B)  competitors are unable to imitate. 
C)  is based on the principle of rigidity. 
D)  cannot be deconstructed. 
E)  can be purchased at a reasonable cost. 
A)  cannot be described in detail. 
B)  competitors are unable to imitate. 
C)  is based on the principle of rigidity. 
D)  cannot be deconstructed. 
E)  can be purchased at a reasonable cost.

Question 8

Party Beverages Corp. had focused only on alcoholic beverages for the last two decades. Now, the company is considering entering the soft drink market. In the context of the above scenario, which of the following corporate strategies will the company adopt?

Accepted Answer

A)  Vertical integration 
B)  Related diversification 
C)  Unrelated diversification 
D)  Concentration 
E)  Low-cost 
A)  Vertical integration 
B)  Related diversification 
C)  Unrelated diversification 
D)  Concentration 
E)  Low-cost

Question 9

Scenario D. Use the information given below to answer the following questions. Healthy Day Regional Medical Center's management team has several decisions to make. They are:
1. Determine which patients have to be admitted the next day.
2. Decide whether to purchase the only other medical center in the region.
3. Decide which candidates will meet the requirements for the nursing training program.
4. Determine whether the medical center should diversify to include more advanced (and substantially more costly) technologies.
-Decision 4 is an example of a _____ decision.

Accepted Answer

A)  programmed 
B)  nonprogrammed 
C)  trivial 
D)  certain 
E)  risk-free 
A)  programmed 
B)  nonprogrammed 
C)  trivial 
D)  certain 
E)  risk-free

Question 10

In the context of the levels of planning, an organization's strategic, tactical, and operational goals and plans must be _____ in order to be fully effective.

Accepted Answer

A)  aligned 
B)  independent 
C)  mutually exclusive 
D)  focused on long-term gains only 
E)  focused on short-term benefits only 
A)  aligned 
B)  independent 
C)  mutually exclusive 
D)  focused on long-term gains only 
E)  focused on short-term benefits only

Question 11

The outcome of situational analysis is the:

Accepted Answer

A)  evaluation of the merits and feasibility of a range of alternatives. 
B)  prioritization and elimination of goals. 
C)  identification and diagnosis of planning assumptions, issues, and problems. 
D)  selection of the most appropriate and feasible alternative. 
E)  proper implementation of a plan. 
A)  evaluation of the merits and feasibility of a range of alternatives. 
B)  prioritization and elimination of goals. 
C)  identification and diagnosis of planning assumptions, issues, and problems. 
D)  selection of the most appropriate and feasible alternative. 
E)  proper implementation of a plan.

Question 12

Individuals usually make higher-quality decisions when compared to groups, provided there is enough time.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is true of strategic control systems?

Accepted Answer

A)  They must rigidly enforce the strategic plan in the face of changing conditions. 
B)  Unlimited spending may be allowed as long as the organization is progressing according to its strategy. 
C)  Corrective action is taken when discrepancies exist between an organization's progress and its strategy. 
D)  The first component of the strategic management process is strategic control. 
E)  These systems are designed to help determine the organization's output by evaluating price competition. 
A)  They must rigidly enforce the strategic plan in the face of changing conditions. 
B)  Unlimited spending may be allowed as long as the organization is progressing according to its strategy. 
C)  Corrective action is taken when discrepancies exist between an organization's progress and its strategy. 
D)  The first component of the strategic management process is strategic control. 
E)  These systems are designed to help determine the organization's output by evaluating price competition.

Question 14

GR Real Estate 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. This corporate strategy is known as:

Accepted Answer

A)  vertical integration. 
B)  unrelated diversification. 
C)  related diversification. 
D)  concentration. 
E)  low-cost. 
A)  vertical integration. 
B)  unrelated diversification. 
C)  related diversification. 
D)  concentration. 
E)  low-cost.

Question 15

Differentiate between programmed and nonprogrammed decisions. Which type is more typical for managerial decisions?

Accepted Answer

The answer of Differentiate between programmed and nonprogrammed decisions. Which...

Question 16

Businesses using a low-cost strategy try to be efficient and offer a standard, no-frills product.

Accepted Answer

A) True 
 B)False

Question 17

Shadow Blinds, an American company, is trying to decide whether to open its first international branch in Europe or Asia. The managers of the company are operating under a condition of _____.

Accepted Answer

A)  goal displacement 
B)  illusion of control 
C)  social reality 
D)  uncertainty 
E)  maximization 
A)  goal displacement 
B)  illusion of control 
C)  social reality 
D)  uncertainty 
E)  maximization

Question 18

Scenario C. Use the information given below to answer the following questions. Shine cosmetics, a global company, is considering its corporate strategy. Several people on the board of directors believe they have the "perfect" strategy for the company. Joe believes that the best option is to continue their present strategy of offering cosmetics to customers who like the "look" of the products. Martin wants the company to expand by purchasing the manufacturing plants that produce Shine products. Cathy wants to add products like skin care and perfume to the product line. Ruth wants to develop the company by opening restaurants or setting up an amusement park.
-Which of the following corporate strategies does Cathy advocate?

Accepted Answer

A)  Concentration 
B)  Vertical integration 
C)  Related diversification 
D)  Unrelated diversification 
E)  Price skimming 
A)  Concentration 
B)  Vertical integration 
C)  Related diversification 
D)  Unrelated diversification 
E)  Price skimming

Question 19

_____ refer(s) to a decision bias influenced by the way in which a problem or decision alternative is phrased or presented.

Accepted Answer

A)  Framing effects 
B)  Discounting the future 
C)  An illusion of control 
D)  Social realities 
E)  Time pressures 
A)  Framing effects 
B)  Discounting the future 
C)  An illusion of control 
D)  Social realities 
E)  Time pressures

Question 20

Use the paragraph given below to answer the following questions.
Scenario A. The senior management of Alpha Omega, Corp. have conducted a planning meeting. They need to make decisions about the following questions:
1. How many employees should be hired for the cafeteria this month?
2. Should the company expand into a new region in the next ten years?
3. How can the visibility of their marketing campaign be increased?
4. How can the biggest trucks in the business be scheduled for next week?
5. Should the company allow employees to work from home?
-Which of the following questions is related to strategic planning?

Accepted Answer

A)  How many employees should be hired for the cafeteria this month? 
B)  How can the visibility of their marketing campaign be increased? 
C)  How can the biggest trucks in the business be scheduled for next week? 
D)  Should the company allow employees to work from home? 
E)  Should the company expand into a new region in the next ten years? 
A)  How many employees should be hired for the cafeteria this month? 
B)  How can the visibility of their marketing campaign be increased? 
C)  How can the biggest trucks in the business be scheduled for next week? 
D)  Should the company allow employees to work from home? 
E)  Should the company expand into a new region in the next ten years?

In the context of the levels of planning, typical strategic goals involve:

The first step in strategy implementation involves articulating in simple language what a particular business must do to create or sustain a competitive advantage. This step is known as:

In the context of decision making in groups, the job of a devil's advocate is to create potentially destructive conflict.

In the context of a SWOT analysis, describe at least five elements of an environmental analysis.

The level of planning involving the longest time horizon, usually ranging from three to seven years, is:

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

Party Beverages Corp. had focused only on alcoholic beverages for the last two decades. Now, the company is considering entering the soft drink market. In the context of the above scenario, which of the following corporate strategies will the company adopt?

In the context of the levels of planning, an organization's strategic, tactical, and operational goals and plans must be _____ in order to be fully effective.

The outcome of situational analysis is the:

Individuals usually make higher-quality decisions when compared to groups, provided there is enough time.

Which of the following is true of strategic control systems?

GR Real Estate 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. This corporate strategy is known as:

Differentiate between programmed and nonprogrammed decisions. Which type is more typical for managerial decisions?

Businesses using a low-cost strategy try to be efficient and offer a standard, no-frills product.

Shadow Blinds, an American company, is trying to decide whether to open its first international branch in Europe or Asia. The managers of the company are operating under a condition of _____.

_____ refer(s) to a decision bias influenced by the way in which a problem or decision alternative is phrased or presented.

Managing in a Global World

The Evolution of Management

The Organizational Environment and Culture

Ethics and Corporate Responsibility

Entrepreneurship

Organizing for Success

Managing Human Resources

Managing Diversity and Inclusion

Leadership

Motivating People

Teamwork

Communicating

Managing Control

Innovating and Changing

Filters

Exam 5: Planning and Decision Making

In the context of the levels of planning, typical strategic goals involve:

The first step in strategy implementation involves articulating in simple language what a particular business must do to create or sustain a competitive advantage. This step is known as:

In the context of decision making in groups, the job of a devil's advocate is to create potentially destructive conflict.

In the context of a SWOT analysis, describe at least five elements of an environmental analysis.

The level of planning involving the longest time horizon, usually ranging from three to seven years, is:

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

Party Beverages Corp. had focused only on alcoholic beverages for the last two decades. Now, the company is considering entering the soft drink market. In the context of the above scenario, which of the following corporate strategies will the company adopt?

In the context of the levels of planning, an organization's strategic, tactical, and operational goals and plans must be _____ in order to be fully effective.

The outcome of situational analysis is the:

Individuals usually make higher-quality decisions when compared to groups, provided there is enough time.

Which of the following is true of strategic control systems?

GR Real Estate 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. This corporate strategy is known as:

Differentiate between programmed and nonprogrammed decisions. Which type is more typical for managerial decisions?

Businesses using a low-cost strategy try to be efficient and offer a standard, no-frills product.

Shadow Blinds, an American company, is trying to decide whether to open its first international branch in Europe or Asia. The managers of the company are operating under a condition of _____.

_____ refer(s) to a decision bias influenced by the way in which a problem or decision alternative is phrased or presented.

Managing in a Global World

The Evolution of Management

The Organizational Environment and Culture

Ethics and Corporate Responsibility

Entrepreneurship

Organizing for Success

Managing Human Resources

Managing Diversity and Inclusion

Leadership

Motivating People

Teamwork

Communicating

Managing Control

Innovating and Changing

Filters