Deck 4: Planning and Strategy

Question 1

Policies,procedures,and rules can apply to many different organizational activities.

Answer 1

True

Question 2

Policies,procedures,and rules are known as single-use plans.

Answer 2

False

Question 3

Single-use plans are assigned and accomplished over a fixed period of time.

Answer 3

True

Question 4

Rules designate "how" to accomplish or carry out work assignments.

Question 5

Long-term goals can be reached within one year.

Question 6

Events such as the terrorist attacks of September 11 have little effect on the mission of companies such as Delta Air Lines.

Question 7

According to management guru Peter Drucker,a mission statement should answer,"What is our business? What should it be?"

Question 8

The mission statement should provide answers to why an organization exists.

Question 9

Tactical plans are narrower in scope than strategic plans,but broader in scope than operational plans.

Question 10

The basic planning process begins with setting objectives.

Question 11

The basic planning process ends with implementing the plan.

Question 12

Organizations use both internal and external sources for forecasting information.

Question 13

The three most common types of plans are strategic,tactical,and objective.

Question 14

Linear programming is a planning tool that can be used to determine the optimum combination of leadership allocation and bureaucratic controls.

Question 15

A strategy is a single-use plan for an operation from its beginning to its end.

Question 16

Operational plans fall into two major categories: single-use and standing plans.

Question 17

Tactics influence and often dictate the choice of strategies.

Question 18

Planning is critical to the success of few organizations.

Question 19

When a mission is formalized in writing and communicated to all organizational members,it becomes the organization's mission statement.

Question 20

Stretch goals are also called BHAGS.

Question 21

Marketing,finance,and R&D are associated directly with differentiation strategy.

Question 22

Strategic planning applies only to large corporations,not smaller firms.

Question 23

A diversification strategy is adopted if the company want to stay with the same or existing products in the same markets.

Question 24

Analyzing the environment is the first step in the strategic planning process.

Question 25

Buying real estate properties for future store locations is a retrenchment strategy.

Question 26

Analyzer strategy is appropriate in an environment in which growth is possible,and the organization is both efficient and creative.

Question 27

There are very few barriers to planning.

Question 28

Focus strategy is one type of competitive strategy.

Question 29

Once the managers of a large diversified organization decide on a portfolio strategy,they develop a grand strategy.

Question 30

Planning and decision making are the heart of strategy formulation.

Question 31

The grand strategy is the overall "plan of attack" for the corporation.

Question 32

Strategic business units are autonomous businesses with their own identities but operate within the framework of many organizations.

Question 33

Competing within the external environment does not impact organizational strategic planning.

Question 34

Managing a portfolio of business units is like managing a portfolio of unrelated investments,such as stocks,bonds,and real estate.

Question 35

Manufacturers of sporting shoes use focus strategies.

Question 36

With a sharp strategic focus,a company can accomplish all of its goals.

Question 37

Defender strategy means capturing more market share.

Question 38

The synergy of a marketing strategy specifies the position or size the firm wants to de-emphasize,given its environment.

Question 39

The Boston Consulting Group (BCG)would label an investment in a new typewriter manufacturing company as a dog.

Question 40

Evaluating results is part of the last step of the strategic planning process.

Question 41

Resources required to attain a goal are addressed with what type of planning question?

A)what
B)when
C)how
D)how much

Question 42

A plan provides specific answers to all of the questions except:

A)how.
B)why.
C)who.
D)when.

Question 43

A plan to determine how many employees will work next weekend would be which of the following objectives?

A)occupational
B)tactical
C)institutional
D)operational

Question 44

The financial strategy of a firm involves decisions about the action to be taken with profits,how funds will be spend or invested,and how any additional funds will be raised.

Question 45

Specifically,rules,policies,and procedures are known as ____________ plans.

A)single-use
B)temporary
C)tactical
D)standing

Question 46

Gathering reviews of a new product before launching the product to the public would best represent a ______________.

A)standing plan
B)management objective
C)product introduction plan
D)program

Question 47

The type of work activity that draws heavily on the leadership abilities of top managers is the implementation of:

A)operating plans.
B)production schedules.
C)strategic planning.
D)PERT diagrams.

Question 48

Which type of planning question addresses the methods or activities to reach the goals?

A)what
B)when
C)how
D)how much

Question 49

Long-term,company-wide goals are the primary responsibility of which level of management?

A)first-line
B)middle-level
C)top-level
D)trainee

Question 50

A single-use plan for an operation from its beginning to its end is called a(n):

A)policy.
B)process.
C)program.
D)project.

Question 51

A course of action created to achieve a long-term goal is called a _________,while a course of action designed to achieve a short-term goal is considered a __________.

A)stretch goal,tactic
B)strategy,tactic
C)strategy,goal
D)LT tactic,ST tactic

Question 52

A management function-level strategy for production involves marketing goods and providing services.

Question 53

Rules for writing and implementing mission statements include the following except:

A)Keep the statement simple
B)Utilize statutory laws.
C)Allow company-wide input.
D)Rely on the statement for guidance.

Question 54

A cost-leadership strategy is one focused on keeping costs as low as possible through efficient operations and loose controls.

Question 55

Programs and budgets are which type of operational plan?

A)single-use
B)standing
C)continuous,ongoing
D)occupational

Question 56

Which type of plan would determine how many employees work next week?

A)occupational
B)tactical
C)institutional
D)operational

Question 57

Short-term goals set by middle managers that must be achieved in order to reach top management's goals are called:

A)strategic plan.
B)operational goals.
C)tactical plans.
D)standing goals.

Question 58

A formalized,written set of organizational ideas result in the corporate ____________.

A)philosophy
B)motto
C)mission statement
D)rules manual

Question 59

Which of the following questions applies directly to the function of planning?

A)Are we doing what we intended to do?
B)Is the production process effective?
C)What do we want to accomplish?
D)Why were the employees paid late?

Question 60

"No food or drink in the auditorium" is an example of which of the following?

A)plan
B)rule
C)policy
D)strategic goal

Question 61

The three levels of strategies are corporate,business,and ____________.

A)functional
B)institutional
C)situational
D)operational

Question 62

A few dynamic thinking,top-level managers delegate strategic planning to ____________.

A)stockholders
B)the general public
C)line managers
D)the board of directors

Question 63

The final step in the basic planning process is ____________.

A)controlling and evaluating the results
B)implementing the plan
C)evaluating the alternatives
D)selecting the best solution

Question 64

Which level of management is "assigned" or associated initially with strategic planning?

A)first-line
B)regional
C)intermediate
D)top

Question 65

Rules,policies,procedures,programs,and budgets are all known as __________ plans.

A)strategic
B)operational
C)tactical
D)single-use

Question 66

A series of administrative activities to process employee time cards is a ____________.

A)rule
B)policy
C)program
D)procedure

Question 67

Managers increase their chance of success in planning by beginning with:

A)strong assumptions about the trends
B)a team leader who can manager his/her team
C)quality information
D)all of the above

Question 68

All planning is based on assumptions and:

A)strategic controls.
B)leadership expectations.
C)forecasts.
D)organization restructuring.

Question 69

For many organizations,what customers value often becomes the company's:

A)core competency
B)deployable resource
C)distinctive competitive advantage
D)internal strength

Question 70

Resource deployment defines how the company intends to allocate its resources to achieve its strategic goals include the following except:

A)material.
B)human.
C)financial.
D)cognitive.

Question 71

When developing alternatives,managers should:

A)chose the ones that are most cost effective
B)create as many as possible to reach desired objectives
C)always include subordinates in the decision
D)stick with the one that makes most sense to the manager

Question 72

A _______ is a broad guide for organizational members to follow when dealing with important and recurring areas of decision making.

A)program
B)budget
C)standing plan
D)policy

Question 73

Procedures spell out the "____________" for a task or function.

A)what
B)who
C)when
D)how

Question 74

The authors recommend using a traditional management pyramid in the planning process so that there is a _______________.

A)hierarchy of objectives
B)well thought out management by objectives system
C)a planning flow
D)a bottom-up movement of ideas

Question 75

Communication,incentives,structural changes,and new technology are the means for ____________ the strategic plan.

A)growing
B)positioning
C)reacting
D)implementing

Question 76

The first step in the strategic planning process is to ____________.

A)analyze the environment
B)take a close look at the mission
C)define the mission
D)formulate the strategy

Question 77

If Taco Bell fast-food restaurants decided to start offering hamburgers on their menu,this decision would be considered a ____________.

A)reactor strategy
B)corporate-level strategy
C)functional-level strategy
D)retrenchment strategy

Question 78

Management by objectives (MBO)is a unique planning method because subordinates have the opportunity to ____________.

A)work a lot of overtime hours
B)evaluate their peers
C)communicate and reciprocate with managers to set their own goals
D)become leaders of work teams

Question 79

The step in the basic planning process would the statement "This organization will capture 5% more of the product market in the next 2 years" focus upon:

A)organization restructuring.
B)setting objectives.
C)production schedules.
D)organization control.

Question 80

While ____________ are broad,general guidelines;____________ are much more specific and control the do's and don'ts of employees.

A)policies;programs
B)rules;plans
C)policies;plans
D)policies;rules