Deck 5: Managerial Planning and Goal Setting

Question 1

Goals help managers decide where they need to allocate resources.

Answer 1

False

Question 2

Because everything else stems from leading,of the four management functions,leading is considered the most fundamental.

Answer 2

False

Question 3

A plan tells "why" to achieve the goal.

Answer 3

False

Question 4

The mission is the basis for the strategic level of goals and plans,which in turn shapes the tactical and operational level.

Question 5

Tactical goals and plans are the responsibility of front-line managers and supervisors.

Question 6

Step 1 in the organizational planning process is to review progress.

Question 7

A desired future state that the individual or organization attempts to realize is a goal.

Question 8

Strategic plans and goals are those that focus on where the organization wants to be in the future and pertain to the organization as a whole.

Question 9

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.

Question 10

Goals specify today's means; plans specify future ends.

Question 11

Goal setting is the act of determining the organization goals and the means for achieving them.

Question 12

Managers must understand no plan is perfect,but should grow and change to meet new conditions.

Question 13

Plans provide a standard of assessment.

Question 14

A broad definition of the organization's values,aspiration and reason for being,along with a recognition of the scope and operations that distinguishes the organization refers to a Business Strategic Statement.

Question 15

A broad statement of where the organization wants to be in the future refers to a mission statement.

Question 16

Tactical plans are designed to help execute the major strategic plans and to accomplish a specific part of the company's strategy.

Question 17

An organization's mission describes its reason for existence.

Question 18

In step 1 of the organizational planning process,overall performance is appraised.

Question 19

Tactical goals and plans are the responsibility of middle managers.

Question 20

Tactical goals are specific,measurable results expected from departments,work groups,and individuals within the organization.

Question 21

Management by objectives,single-use plans,and standing plans are all management planning approaches.

Question 22

Crisis plans define company responses to be taken in the case of emergencies,setbacks,or unexpected conditions.

Question 23

Three critical planning methods are contingency planning,building scenarios,and crisis planning.

Question 24

Prevention and preparation are the two stages of crisis management.

Question 25

Specific and measurable goal characteristics apply only to the lower-level goals.

Question 26

Operational planning specifies plans for department managers,supervisors,and individual employees.

Question 27

In a complex and competitive business world,traditional planning done by a select few is the only planning that works.

Question 28

Contingency plans can also be considered as scenarios.

Question 29

Some firms engage in crisis planning to enable them to cope with unexpected events that are so sudden and devastating that they have the potential to destroy the organization.

Question 30

The ABC Corporation should create a crisis management group that is not cross-functional,but does work together well under pressure.

Question 31

An action plan defines the course of action needed to achieve the stated goals.

Question 32

Managers work with planning experts to develop their own goals and plans in decentralized planning.

Question 33

Top managers make the broad strategic plan and identify specific tactical plans.

Question 34

Goals are most effective when they are specific,measurable,challenging and linked to rewards.

Question 35

If Renae,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.

Question 36

The goals should be easy,for employees to feel motivated,so that they can achieve them easily which in turn increases their motivation level.

Question 37

Goals must be set for every aspect of employee behavior or organizational performance to be effective.

Question 38

Standing plans define company responses to specific situations such as natural emergencies or competitive setbacks.

Question 39

The first stage in crisis prevention includes setting up effective communication system.

Question 40

The department manager's tool for daily and weekly operations is called the operational plan.

Question 41

Strategic management largely determines which organizations succeed and which ones struggle.

Question 42

Stretch goals are typically so far beyond the current levels that people have to be innovative to find ways to reach them.

Question 43

Better-Than-The-Rest,Inc.'s ability to market its products better than its competitors is an example of its core competence.

Question 44

Goals and plans are valuable to an organization because they provide rationale for decisions,a guide to action,and an increase in motivation and commitment.

Question 45

In order for goals to be effective,they should be challenging but realistic.

Question 46

One of the biggest benefits of planning is that,in turbulent environments,plans create greater organizational flexibility.

Question 47

Strategic planning tends to be long-term and may define organizational action steps from two to five years in the future.

Question 48

When detecting signals from the external environment as a part of crisis planning,managers are in the preparation stage.

Question 49

The combination of benefits received and costs paid by the customer refers to value.

Question 50

The interaction of Production and Sales working together to produce profit greater than the total of both working separately is an example of synergy.

Question 51

Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.

Question 52

Planning cannot tame a turbulent environment.

Question 53

Crisis planning forces managers to mentally rehearse what they would do if their best laid plans collapse.

Question 54

The essence of formulating strategy is choosing how the organization will be identical to its key competitors in the industry.

Question 55

Managers use strategic goals to direct employees and resources toward achieving specific outcomes that enable the organization to perform efficiently and effectively.

Question 56

Research has shown that strategic thinking and planning positively affect a firm's performance and financial success.

Question 57

In centralized planning,managers work with planning experts to develop their own goals and plans.

Question 58

Goals are typically stated in quantitative terms.

Question 59

Defining operational goals and plans occurs in the plan development phase of the organizational planning process.

Question 60

Core competence is the plan of action that prescribes resource allocation and other activities for dealing with the environment.

Question 61

The task environment sectors are the most relevant to strategic behavior and include the behavior of competitors,customers,suppliers,and the labor supply.

Question 62

With the leveling force of the Internet and information technology,it has become easier for many companies to find ways to distinguish themselves from their competitors.

Question 63

A firms' leadership is responsible for recruiting,selecting,training,transferring,promoting,and laying off employees.

Question 64

The administration and implementation of the strategic plan is strategy execution.

Question 65

As a result of the growth of the Internet,barriers to entry into new markets are now much higher than ever before.

Question 66

The bargaining power of customers is one of Porter's five competitive forces.

Question 67

A top-down management style has been identified as a silent killer of strategy.

Question 68

The Internet tends to lower the bargaining power of suppliers.

Question 69

Cost leadership firms are more likely to reward employee innovation than differentiation firms.

Question 70

For successful execution,alignment of everyone in the organization must occur.

Question 71

Differentiation,cost leadership,and focus are three of Porter's competitive strategies.

Question 72

Internal analysis examines overall organization structure,management competence and quality,and human resource characteristics.

Question 73

Value occurs when the organizational parts interact to produce a joint effect that is greater than the sum of the parts acting alone.

Question 74

The final stage of the strategic management process is execution of the strategy.

Question 75

The concentration of suppliers and the availability of substitute suppliers are significant factors in determining supplier power.

Question 76

SWOT analysis includes a review of the internal threats and opportunities.

Question 77

According to Porter,the bargaining power of the government is one of the five competitive forces affecting an organization's competitive environment.

Question 78

Opportunities are characteristics of the internal environment that have the potential to help the organization achieve or exceed its strategic goals.

Question 79

Threats are characteristics of the internal environment that may prevent the organization from achieving its strategic goals.

Question 80

Strategic thinking is more important for profit businesses than for non-profit organizations.