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Q:
The approach that managers use to make decisions usually falls into one of three typesthe classical model, the administrative model, and the political model.
a. True
b. False
Q:
People who prefer simple, clear-cut solutions to problems use the directive style.
a. True
b. False
Q:
The behavioral style is often adopted by managers who like to consider complex solutions based on as much data as they can gather.
a. True
b. False
Q:
Most bad decisions are errors in judgment that originate in the human mind's limited capacity and in the natural biases of the manager.
a. True
b. False
Q:
Brainstorming uses a face-to-face interactive group to spontaneously suggest as many ideas as possible for solving a problem.
a. True
b. False
Q:
Pointcounterpoint is a decision-making technique in which people are assigned to express competing points of view.
a. True
b. False
Q:
Evidence shows that people who make poor decisions under the influence of strong emotions tend to continue that behavior in the future.
a. True
b. False
Q:
Step 1 in the managerial decision-making process is recognition of decision requirement.
a. True
b. False
Q:
Making a choice is the most significant part of the decision-making process.
a. True
b. False
Q:
Most people underestimate their ability to predict uncertain outcomes.
a. True
b. False
Q:
The most effective managers are consistent in using their own decision style rather than shifting among styles.
a. True
b. False
Q:
Managers will frequently look for new information that contradicts their instincts or original point of view.
a. True
b. False
Q:
Two employees in Stacey's department quit, which is normal for her department. She is faced with the decision to fill these positions. This would be considered a nonprogrammed decision.
a. True
b. False
Q:
Groupthink refers to the tendency of people in groups to suppress contrary opinions.
a. True
b. False
Q:
Briefly discuss Porter's three competitive strategies.
Q:
Compare the four levels of goals and plans.
Q:
In what ways do plans and goals benefit an organization?
Q:
List the five characteristics of effective goals.
Q:
List the four major activities that must occur in order for MBO to succeed.
Q:
List the four components of a SWOT analysis.
Q:
Plans that define company responses to be taken in the case of emergencies, setbacks, or unexpected conditions are called __________ plans.
Q:
__________ involves activities that managers undertake to try to prevent crises from occurring and to detect warning signs of potential crises.
Q:
Of executives whose companies had no formal strategic planning process, about half said they were dissatisfied with the company's development strategy.
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
Q:
In the BCG matrix, the dog has __________ market share and __________ business growth rate.
Q:
Operational plans and goals are those that focus on the outcomes that major divisions and departments must achieve in order for the organization to reach its overall goals.
a. True
b. False
Q:
A special type of contingency plan that is used when events are sudden and devastating and require immediate response is called __________.
Q:
Goals should be easy for employees to feel motivated so that they can achieve them easily, which in turn increases their motivation level.
a. True
b. False
Q:
A(n) __________ is a blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals.
Q:
A broad definition of the organization's values, aspirations and reason for being, along with a recognition of the scope and operations that distinguishes the organization, refers to a business plan.
a. True
b. False
Q:
Goals that define the outcomes that major departments must achieve in order for the organization to reach its overall goals are known as __________ goals.
Q:
Front-line managers have the final responsibility for strategic planning.
a. True
b. False
Q:
__________ is a system whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance.
Q:
One of the biggest benefits of planning is that, in turbulent environments, plans create greater organizational flexibility.
a. True
b. False
Q:
With a(n) __________ strategy, the organization aggressively seeks efficient facilities, cuts costs, and uses tight cost controls to produce products more efficiently than competitors.
Q:
Trend management is looking at trends and discontinuities and imagining possible alternative futures.
a. True
b. False
Q:
The use of managerial and organizational tools to direct resources toward accomplishing strategic outcomes is known as __________.
Q:
Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.
a. True
b. False
Q:
A business activity that an organization does particularly well relative to its competition is known as a(n) __________.
Q:
Goals are most effective when they are specific, measurable, challenging, and linked to rewards.
a. True
b. False
Q:
__________ is the set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.
Q:
Defining operational goals and plans occurs in the execution phase of the organizational planning process.
a. True
b. False
Q:
__________ assess what is important to the organization and how well the organization is progressing toward attaining its strategic goal.
Q:
Prevention and preparation are the two stages of crisis management.
a. True
b. False
Q:
Broad statements describing where the organization wants to be in the future are called __________.
Q:
Research has shown that strategic thinking and planning positively affect a firm's performance and financial success.
a. True
b. False
Q:
A group of planning specialists assigned to major departments and divisions to help managers develop their own strategic plans is called __________.
Q:
The BCG (Boston Consulting Group) matrix evaluates SBUs with respect to their business growth rate and geographical location.
a. True
b. False
Q:
Which of the following is true about the cash cow?
a. It generates tremendous profits in a rapidly growing industry.
b. It has a small market share in a rapidly growing industry.
c. It has a small market share in a slow-growth industry.
d. It has a large market share in a slow-growth industry.
e. It is generally a dead business that should be divested.
Enter the appropriate word(s) to complete the statement.
Q:
Executives acquire information about external opportunities and strengths from a variety of reports, including budgets, financial ratios, profit and loss statements, and surveys of employee attitudes and satisfaction.
a. True
b. False
Q:
__________ refers to the use of managerial and organizational tools to direct resources toward achieving strategic outcomes.
a. Strategy formulation
b. Strategy coordination
c. Strategy execution
d. Strategy control
e. Strategy planning
Q:
Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.
a. True
b. False
Q:
A blueprint specifying the resource allocations schedules, and other actions necessary for attaining goals is referred to as a(n):
a. goal.
b. plan.
c. mission.
d. vision.
e. objective.
Q:
The essence of formulating strategy is choosing how the organization will conform to become like its key competitors in the industry.
a. True
b. False
Q:
A long-term time frame is most closely associated with:
a. operational plans.
b. tactical plans.
c. strategic plans.
d. mission plans.
e. tactical goals.
Q:
A desired future circumstance or condition that the organization attempts to realize is a goal.
a. True
b. False
Q:
When top executives work with managers in major divisions or departments to develop their own goals and plans, it is known as __________ planning.
a. interdepartmental
b. crisis
c. focus
d. decentralized
e. competitive
Q:
Some companies hire competitive intelligence professionals to scan the external environment and provide data and research on relevant domestic and global trends.
a. True
b. False
Q:
Alabama Airlines has three planning specialists who help division managers develop their own division plans. Serving as consultants to the divisions, the planning specialists give advice about strengths, weaknesses, opportunities, and threats. Alabama Airlines is utilizing which of the following approaches to the planning function?
a. Centralized planning department
b. Decentralized planning staff
c. Planning task force
d. Centralized planning committee
e. TQM
Q:
One of the limitations of setting goals and making plans is that they can get in the way of creativity.
a. True
b. False
Q:
Darren set goals for each of his employees. Each employee ended up with at least 25 goals. This process violates which of the following criteria for effective goals?
a. Specific and measurable
b. Challenging but realistic
c. Covers key result areas
d. Defined time period
e. Linked to rewards
Q:
If Renee, manager at Leak Free Roofing, wanted to develop a contingency plan for Leak Free, she would need to look at factors such as new equipment, the economy, and the company workers' compensation cases.
a. True
b. False
Q:
Focusing manager and employee efforts on activities that will lead to goal attainment is a benefit of what management method?
a. Tactical planning
b. Contingency planning
c. Single-use planning
d. Management-by-objectives
e. Management by walking around
Q:
The task environment sectors are the most relevant to strategic behavior and include the behavior of competitors, customers, suppliers, and the labor supply.
a. True
b. False
Q:
Which of the following strategies involves rewarding an employee's innovation?
a. Cost leadership
b. Differentiation
c. Focus
d. Internal growth
e. Liquidation
Q:
Goals are typically stated in quantitative terms.
a. True
b. False
Q:
Of the strategic management functions, which of the following is considered the most fundamental?
a. Executing
b. Analyzing
c. Controlling
d. Planning
e. Leading
Q:
The dog, according to the BCG matrix, is a poor performer.
a. True
b. False
Q:
Double Click, Inc. has a number of strategic business units. Its handheld computer unit has a large market share in this rapidly growing industry. Its handheld computer business would be classified as:
a. a dog.
b. a star.
c. a question mark.
d. a cash cow.
e. stuck in the middle.
Q:
The CEO of Andre's Autos, Inc. must do all of the planning for the company because that is the way to do things in today's workplace.
a. True
b. False
Q:
Jeff is a top manager at a textile factory. He is developing a crisis plan in the event that the company has a toxic spill or accident. Which of the following should Jeff undertake to prepare for such a crisis?
a. Building relationships with neighboring businesses
b. Detecting signals from the natural environment
c. Polling employees on the likelihood of an environmental disaster
d. Designating a crisis management team in the event of an environmental disaster
e. Dismantling the companys ties to the external media
Q:
Mingles, Inc. concentrates its efforts on its target market of 18- to 25-year-olds. It is using a(n) __________ strategy.
a. focus
b. differentiation
c. cost leadership
d. multidomestic
e. universal
Q:
"We respect our employees and value their diversity" is an example of a statement you are most likely to find in the organization's:
a. mission.
b. strategic goals.
c. tactical goals.
d. strategic plans.
e. tactical plans.
Q:
From where does the information about opportunities and threats come?
a. An analysis of the organization's internal environment
b. A department-by-department study of the organization
c. Scanning the external environments
d. Employee grievances
e. Financial ratios of the organization
Q:
Which of the following is a commonly-cited limitation of planning?
a. Plans limit employee motivation and commitment.
b. Plans make resource allocation more difficult.
c. Plans make it more difficult to measure standards of performance.
d. Plans boost intuition and creativity.
e. Plans can create a false sense of security.
Q:
Fred has been assigned to conduct a SWOT analysis for his organization, Acme, Inc. As part of this assignment, Fred will:
a. conduct an external wage survey.
b. search for the strengths, weaknesses, opportunities, and threats that impact his firm.
c. choose a grand strategy for his firm.
d. do a cost/benefit analysis.
e. develop a mission.
Q:
Sarah is a middle manager at Stylin' Sneakers Corporation. She is most likely responsible for the achievement of __________ goals.
a. operational
b. tactical
c. strategic
d. lower-level
e. top-level
Q:
The planning process begins with which of the following?
a. The development of operational goals
b. The development of a mission statement
c. Communication of goals to the rest of the organization
d. A company-wide meeting
e. Brainstorming
Q:
Which of the following is NOT one of the benefits of MBO?
a. Performance can be improved at all company levels.
b. Employees are motivated.
c. Efforts are focused on activities that will lead to goal attainment.
d. Operational goals are able to displace strategic goals.
e. Individual and department goals are aligned with company goals.
Q:
The plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining the organizations goals is known as a(n):
a. goal.
b. objective.
c. mission.
d. vision.
e. strategy.
Q:
A(n) __________ is a formal statement of the company's values concerning ethics and social issues; it communicates to employees what the company stands for.