Question 1

Managers use _____ to analyze how to respond effectively to multiple forecasts of future conditions.

Accepted Answer

A) scenario planning 
B) a rolling plan 
C) a standing plan 
D) time horizons 
E) a long-term plan

Question 2

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 Henri Fayol, does this plan have?

Accepted Answer

A) unity 
B) flexibility 
C) continuity 
D) accuracy 
E) synergy

Question 3

With a _____ strategy, managers aim to make their organization the most distinguished company serving just one or a few segments of the overall market.

Accepted Answer

A) hypercompetition 
B) low-cost 
C) focused low-cost 
D) differentiation 
E) focused differentiation

Question 4

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

Accepted Answer

A) business-level 
B) corporate-level 
C) functional-level 
D) departmental-level 
E) global-level

Question 5

_____ are used in situations in which programmed decision making is appropriate.

Accepted Answer

A) Single-use plans 
B) Functional plans 
C) Rolling plans 
D) Scenario plans 
E) Standing plans

Question 6

A computer operating system software manufacturer invests its profits in creating newer versions of its operating system software to make best use of the continuous changes in computer hardware.This is called diversification.

Accepted Answer

A) True 
 B)False

Question 7

Because of the hostile external environment, AKY Consulting treats its multiyear corporate-level plan as a _____ plan in order to maintain flexibility without losing sight of the need to plan for the long term.

Accepted Answer

A) fixed 
B) general 
C) standing 
D) rolling 
E) business

Question 8

In a first of its kind, a multinational tire manufacturer introduces a new range of premium tires that can handle extreme temperatures better at a higher price.The tires are designed keeping in mind the climatic conditions in the Middle East and products are marketed only in the Middle East.The manufacturer is pursuing

Accepted Answer

A) a focused differentiation strategy. 
B) a focused low-cost strategy. 
C) a general differentiation strategy. 
D) a general low-cost strategy. 
E) both a low-cost and a differentiation strategy.

Question 9

Which of the following will most likely be an opportunity according to an organization's SWOT analysis?

Accepted Answer

A) The company can take over one of its bankrupt competitors. 
B) The sales of the organization's products are the highest in the industry. 
C) The organization is growing with a strong product line. 
D) Consumers are familiar with the organization's logo and its strong reputation. 
E) The organization faces increased competition in its market.

Question 10

Explain why scenario planning is one of the most widely used planning methods or techniques.Also, explain how scenario planning improves the planning process.

Accepted Answer

The answer of Explain why scenario planning is one of...

Question 11

To lower costs, the divisional head of an organization decides to set up the division's technical support center in another country.This is an example of a business-level strategy.

Accepted Answer

A) True 
 B)False

Question 12

A toy manufacturing company which previously sold its products through a popular toy and juvenile-product retailer decides to enter the retail industry, quickly establishing several retail outlets exclusively for its products.The toy manufacturing company is engaging in

Accepted Answer

A) forward horizontal integration. 
B) backward vertical integration. 
C) forward vertical integration. 
D) backward horizontal integration. 
E) unrelated diversification.

Question 13

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

Accepted Answer

A) differentiation strategy. 
B) low-cost strategy. 
C) diversification strategy. 
D) stuck-in-the-middle strategy. 
E) association strategy.

Question 14

_______ plans are developed to handle nonprogrammed decision making in unusual or one-of-a-kind situations.

Accepted Answer

A) Standing 
B) Single-use 
C) General 
D) Global 
E) Rolling

Question 15

_____ is a corporate-level strategy in which a company expands its business operations into a new industry that produces inputs for the company's products.

Accepted Answer

A) Forward vertical integration 
B) Forward horizontal integration 
C) Unrelated diversification 
D) Backward horizontal integration 
E) Backward vertical integration

Question 16

_____ is the final step in implementing strategy.

Accepted Answer

A) Drafting detailed action plans that specify how a strategy is to be implemented 
B) Allocating responsibility for implementation to the appropriate individuals or groups 
C) Establishing a timetable for implementation that includes precise, measurable goals linked to the attainment of the action plan 
D) Holding specific individuals or groups responsible for the attainment of corporate, divisional, and functional goals 
E) Allocating appropriate resources to the responsible individuals or groups

Question 17

Corporate-, business-, and functional-level plans usually require similar time horizons.

Accepted Answer

A) True 
 B)False

Question 18

A functional-level plan states the goals that the managers of each function will pursue to help their division attain its ______ goals, which, in turn, will allow the entire company to achieve its ______ goals.

Accepted Answer

A) departmental-level; functional 
B) business-level; departmental 
C) divisional-level; divisional 
D) business-level; corporate 
E) functional-level; corporate

Question 19

Which of the following statements about simultaneously pursuing both a low-cost strategy and a differentiation strategy is true?

Accepted Answer

A) Organizations stuck in the middle tend to have higher levels of performance than those that pursue a low-cost or a differentiation strategy. 
B) Focusing on the differentiation of a product will result in reduced costs for a company. 
C) Extremely well managed companies may be able to keep low costs and differentiate their products. 
D) Managers try to gain a competitive advantage by focusing only on driving the company's costs down below the costs of industry rivals. 
E) Managers try to gain a competitive advantage by focusing only on distinguishing an organization's products from the products of competitors on dimensions such as product design, quality, or after-sales service.

Question 20

List the five steps involved in implementing an organizational strategy and explain why these steps are important for managers.

Accepted Answer

The answer of List the five steps involved in implementing...

Exam 8: The Manager As a Planner and a Strategist

Managers use _____ to analyze how to respond effectively to multiple forecasts of future conditions.

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 Henri Fayol, does this plan have?

With a _____ strategy, managers aim to make their organization the most distinguished company serving just one or a few segments of the overall market.

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

_____ are used in situations in which programmed decision making is appropriate.

A computer operating system software manufacturer invests its profits in creating newer versions of its operating system software to make best use of the continuous changes in computer hardware.This is called diversification.

Because of the hostile external environment, AKY Consulting treats its multiyear corporate-level plan as a _____ plan in order to maintain flexibility without losing sight of the need to plan for the long term.

Which of the following will most likely be an opportunity according to an organization's SWOT analysis?

Explain why scenario planning is one of the most widely used planning methods or techniques.Also, explain how scenario planning improves the planning process.

To lower costs, the divisional head of an organization decides to set up the division's technical support center in another country.This is an example of a business-level strategy.

A toy manufacturing company which previously sold its products through a popular toy and juvenile-product retailer decides to enter the retail industry, quickly establishing several retail outlets exclusively for its products.The toy manufacturing company is engaging in

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

_______ plans are developed to handle nonprogrammed decision making in unusual or one-of-a-kind situations.

_____ is a corporate-level strategy in which a company expands its business operations into a new industry that produces inputs for the company's products.

_____ is the final step in implementing strategy.

Corporate-, business-, and functional-level plans usually require similar time horizons.

A functional-level plan states the goals that the managers of each function will pursue to help their division attain its goals, which, in turn, will allow the entire company to achieve its goals.

Which of the following statements about simultaneously pursuing both a low-cost strategy and a differentiation strategy is true?

List the five steps involved in implementing an organizational strategy and explain why these steps are important for managers.