Question 1

A politician whose ultimate goal is to get elected is planning campaign ads for TV.In planning the ads, the politician is functioning at a ________ level.
A)strategic
B)long-term
C)tactical
D)directional

Accepted Answer

The politician is focusing on immediate actions to achieve their ultimate goal of getting elected. This aligns with the definition of tactical, which refers to short-term planning and action to meet specific objectives.

Question 2

Taco Rocket (Scenario)
Imagine that you are the president of Taco Rocket, a new and successful chain of 8 Mexican fast-food restaurants. The success you have experienced in the last 5 years has you thinking of what to do with the business next. Should you expand the business at the current rate? Open new and different restaurants? What?
-You are thinking of buying a tortilla factory in a nearby state.This action would be an example of ________.
A)forward vertical integration
B)horizontal integration
C)backward vertical integration
D)forward diversification

Accepted Answer

The answer of Taco Rocket (Scenario)
Imagine that you are the...

Question 3

Top managers, for the most part, focus on this type of planning.
A)operational
B)strategic
C)tactical
D)short term

Accepted Answer

Top managers are responsible for long-term planning and decision-making, which falls under the strategic planning category. Operational planning is usually the responsibility of lower-level managers, while tactical planning is a combination of both strategic and operational planning. Short-term planning is focused on immediate actions and is usually executed by middle-level managers.

Question 4

Most managers feel that formal, top-down plans created by corporate planning departments are ________.
A)very useful
B)usually unsatisfactory
C)indispensible
D)excellent

Accepted Answer

Research has shown that most managers find formal, top-down plans created by corporate planning departments to be usually unsatisfactory because they often do not fully take into account the specific needs and experiences of individual departments or employees.

Question 5

Tactical plans are operational plans that identify ________.
A)overall organizational goals
B)how overall goals are to be achieved
C)the mission of an organization
D)specific goals for accomplishing a specific objective

Accepted Answer

The answer of Tactical plans are operational plans that identify...

Question 6

Which goal-setting sequence is correct for the following steps? 1.Evaluate resources.
2)Identify goals.
3)Review the mission and job tasks.
4)Communicate goals.
5)Link rewards to goals.
6)Build feedback mechanisms.
A)1, 2, 4, 6, 3, 5
B)4, 2, 5, 3, 1, 6
C)3, 4, 2, 6, 5, 1
D)3, 1, 2, 4, 6, 5

Accepted Answer

The correct sequence for goal-setting starts with reviewing the mission and job tasks to understand the foundational objectives. Next, evaluating resources is essential to determine what is available to achieve the goals. Identifying goals comes after understanding the mission and available resources. Communicating goals ensures everyone is aligned and understands the objectives. Building feedback mechanisms is crucial for monitoring progress and making adjustments. Finally, linking rewards to goals helps to motivate and reinforce the desired outcomes.

Question 7

MBO programs usually are successful largely because they ________.
A)give employees a sense of ownership of goals
B)free managers from the responsibility of setting goals
C)give managers a sense of ownership of goals
D)free employees from responsibility if goals are not met

Accepted Answer

MBO programs are successful largely because they give employees a sense of ownership of goals. This means that the employees are more likely to be committed to achieving the goals because they feel a sense of responsibility and ownership over them. Additionally, when employees are involved in setting their own goals, they can be more specific and realistic, leading to better performance and productivity.

Question 8

Standing plans typically can be used ________.
A)only once
B)only in conjunction with specific, long-term plans
C)twice at most
D)repeatedly

Accepted Answer

Standing plans are designed to be used repeatedly for recurring events, situations or activities.

Question 9

Taco Rocket (Scenario)
Imagine that you are the president of Taco Rocket, a new and successful chain of 8 Mexican fast-food restaurants. The success you have experienced in the last 5 years has you thinking of what to do with the business next. Should you expand the business at the current rate? Open new and different restaurants? What?
-Up to now your success has been based on selling high-quality tacos and burritos at a price that others can't match.Your business is pursuing which of Porter's strategies?
A)differentiation strategy
B)cost leadership strategy
C)competitive advantage strategy
D)focus strategy

Accepted Answer

The success of Taco Rocket has been based on offering high-quality tacos and burritos at a price that others can't match, suggesting that the business is employing a cost leadership strategy. This strategy entails producing goods or services at a lower cost than the competition, making them more affordable for customers. As a result, Taco Rocket is able to target a broad customer base who are seeking affordable and high-quality fast food options. Expanding the business at the current rate would be the best choice as it will allow the company to continue leveraging this strategy and gain an even larger market share.

Question 10

In the twenty-first century, managers increasingly need to consider their plans as ________.
A)highly explicit recipes that must be scrupulously followed
B)a vague philosophy that should not interfere with actions
C)flexible road maps with destinations that may change
D)rigid road maps with a single destination

Accepted Answer

In the twenty-first century, the business environment is highly dynamic and unpredictable. Therefore, managers need to have plans that are flexible and adaptable to changes. Planning should be seen as a road map that may require revisions along the way as new information emerges. Thus, plans should not be rigid but should be open to modifications to navigate through the changing environment.

Question 11

Which of the following defines the time frame of a long-term plan?
A)over seven years
B)over three years
C)under three years
D)over one year

Accepted Answer

The answer of Which of the following defines the time...

Question 12

In addition to being made by by both managers and employees, MBO goals must be ________.
A)nonspecific and open-ended with regard to time
B)specific and open-ended with regard to time
C)specific and include an explicit time limit
D)nonspecific and include no time limit

Accepted Answer

MBO goals must be specific and include an explicit time limit in order to be effective. This allows for clear and measurable goals to be set and progress to be tracked within a defined timeframe.

Question 13

Directional plans ________.
A)leave no room for interpretation
B)are flexible general guidelines
C)are difficult to modify
D)must be short-term plans

Accepted Answer

Directional plans provide general guidelines and allow for flexibility in interpretation and adaptation.

Question 14

The specificity of a plan refers to ________ concerns.
A)long-term versus short-term
B)strategic versus tactical
C)specific versus directional
D)single use versus standing

Accepted Answer

The specificity of a plan refers to how detailed and specific it is in addressing particular issues or concerns. Plans can be either specific or directional, with specific plans providing detailed objectives, actions, and timelines, and directional plans providing broader guidance and goals without specific details. The other options (long-term versus short-term, strategic versus tactical, single use versus standing) refer to different dimensions of planning that are not directly related to specificity.

Question 15

The breadth of a plan refers to ________ concerns.
A)long-term versus short-term
B)strategic versus tactical
C)specific versus directional
D)single use versus standing

Accepted Answer

The breadth of a plan refers to strategic versus tactical concerns, distinguishing between overarching, long-term goals (strategic) and the specific, short-term actions taken to achieve those goals (tactical).

Question 16

The more uncertain a situation is, the more ________ plans must be.
A)unspecific
B)long term
C)flexible
D)short term

Accepted Answer

Flexible plans are essential in uncertain situations as they allow for adaptation to changing circumstances. Unspecific plans may not address specific issues and long-term plans may not be practical in ever-changing situations. Short-term plans may provide immediate solutions but may not be suitable for long-term goals.

Question 17

The commitment concept states that plans should ________.
A)always stake out a longer time period than is estimated
B)always stake out a shorter time period than is estimated
C)stake out a time period that is neither too long nor too short
D)not include time periods because they are too confining

Accepted Answer

The commitment concept suggests that plans should stake out a time period that is neither too long nor too short. This means that the estimated time frame should be realistic and achievable, without providing too much leeway or being too restrictive. A balanced time frame can help ensure that plans are successfully executed without causing undue stress or delays.

Question 18

A cell phone company might ask managers to do some environmental scanning of blogs that deal with electronics as a way to ________.
A)obtain new customers
B)identify emerging trends
C)obtain new advertisers
D)identify potential rivals

Accepted Answer

Environmental scanning of blogs that deal with electronics can help the cell phone company identify emerging trends in the market. This information can then be used to make informed business decisions such as launching new products or services, updating existing products, or changing marketing strategies.

Question 19

Strategic plans address ________.
A)overall organizational goals
B)goals for a single branch of the organization
C)how overall goals are to be achieved
D)how a single goal is to be achieved

Accepted Answer

Strategic plans are designed to address the overall organizational goals of an entity. A strategic plan outlines the mission, vision, values, and objectives of an organization, and sets forth the strategies and tactics to achieve those goals. It often includes an analysis of the internal and external environment, competitive forces, trends, and the organization's strengths and weaknesses. It is a comprehensive plan that covers all aspects of the organization, rather than a single branch or goal.

Question 20

Which of the following is NOT something that a company would be likely to do as a part of a competitive intelligence program?
A)buy competitors' products
B)attend trade shows
C)have employees evaluate competing products
D)buy stock in a competitor's company

Accepted Answer

Buying stock in a competitor's company is not a typical action taken in a competitive intelligence program. The other options involve gathering information about competitors' products, marketing strategies, and industry trends. Buying stock could potentially lead to conflicts of interest or legal issues.

Quiz 5: Foundations of Planning

A politician whose ultimate goal is to get elected is planning campaign ads for TV.In planning the ads, the politician is functioning at a ________ level.

Top managers, for the most part, focus on this type of planning.

Most managers feel that formal, top-down plans created by corporate planning departments are ________.

Tactical plans are operational plans that identify ________.

Which goal-setting sequence is correct for the following steps? 1.Evaluate resources. 2) Identify goals. 3) Review the mission and job tasks. 4) Communicate goals. 5) Link rewards to goals. 6) Build feedback mechanisms.

MBO programs usually are successful largely because they ________.

Standing plans typically can be used ________.

In the twenty-first century, managers increasingly need to consider their plans as ________.

Which of the following defines the time frame of a long-term plan?

In addition to being made by by both managers and employees, MBO goals must be ________.

Directional plans ________.

The specificity of a plan refers to ________ concerns.

The breadth of a plan refers to ________ concerns.

The more uncertain a situation is, the more ________ plans must be.

The commitment concept states that plans should ________.

A cell phone company might ask managers to do some environmental scanning of blogs that deal with electronics as a way to ________.

Strategic plans address ________.

Which of the following is NOT something that a company would be likely to do as a part of a competitive intelligence program?