Question 1

Mr. Thomas Ryan, a manager with Bakter Construction, has been developing a system which he hopes will help monitor his organization's progress toward fulfilling its mission and achieving its strategic goals. This system would be associated with which stage of the strategic planning process?

Accepted Answer

The system Mr. Thomas Ryan is developing is aimed at monitoring the organization's progress towards its mission and strategic goals, which aligns with the strategic evaluation and control stage. This stage involves assessing the effectiveness of a strategy after it has been implemented, to ensure that the organization's objectives are being met and making adjustments as necessary.

Question 2

Controls designed to predict changes in the external environment or the internal operations of an organization that may affect its ability to fulfill its mission and meet its strategic goals are

Accepted Answer

Feedforward controls are designed to predict changes in the external environment or the internal operations of an organization that may affect its ability to fulfill its mission and meet its strategic goals. They are proactive measures taken before a process begins to ensure that objectives are met.

Question 3

Controls that compare the actual performance of an organization to its planned performance are referred to as

Accepted Answer

Feedback controls involve comparing actual performance against planned performance and making adjustments based on those comparisons. This is a key aspect of management and organizational performance evaluation.

Question 4

Assume that Southwest Airlines is right when the company believes, and states, that a low price and on-time arrival and departure are important to its customers. This is an example of

Accepted Answer

This is an example of defining a mission in terms of what customers value, which in this case are low prices and punctuality.

Question 5

Match each term with the correct statement below.
-those environmental forces that are beyond a firm's influence and over which it has no control

Accepted Answer

The general environment consists of broad external conditions that affect organizations but are beyond their control, such as economic, technological, sociocultural, and political/legal forces.

Question 6

Match each term with the correct statement below.
-a statement of the reason for which the organization exists

Accepted Answer

The organizational mission is a statement that outlines the purpose or reason for the organization's existence, guiding its actions and decisions.

Question 7

Match each term with the correct statement below.
-the fundamental way in which an organization competes in the marketplace

Accepted Answer

Generic strategies refer to the fundamental ways in which an organization competes in the marketplace, typically including cost leadership, differentiation, and focus strategies.

Question 8

Match each term with the correct statement below.
-a strategy for competing on the basis of price

Accepted Answer

Cost leadership is a generic strategy that involves a firm aiming to become the lowest cost producer in its industry, thereby competing on the basis of price.

Question 9

Match each term with the correct statement below.
-a thorough evaluation of the organization's strengths and weaknesses

Accepted Answer

Internal analysis is the process of evaluating an organization's strengths and weaknesses.

Question 10

Match each term with the correct statement below.
-a strategy for competing by targeting a specific and narrow segment of the market

Accepted Answer

Focus strategy involves targeting a specific, narrow segment of the market, distinguishing it from broader strategies that appeal to a wider audience.

Question 11

Match each term with the correct statement below.
-those environmental forces that are within the firm's operating environment and over which the firm has some degree of control

Accepted Answer

The task environment consists of external factors that directly affect an organization and over which the organization has some degree of control, such as suppliers, customers, and competitors.

Question 12

Match each term with the correct statement below.
-a comprehensive, general approach for achieving the strategic goals of an organization

Accepted Answer

Grand strategy is a comprehensive, overarching approach that an organization adopts to achieve its strategic goals, encompassing various aspects of its operations and planning.

Question 13

Match each term with the correct statement below.
-a thorough evaluation of environmental opportunities and threats

Accepted Answer

External analysis involves a thorough evaluation of the environmental opportunities and threats facing an organization.

Question 14

Match each term with the correct statement below.
-the results the organization seeks to achieve in the long run

Accepted Answer

Strategic goals are the long-term outcomes an organization aims to achieve, reflecting its mission and guiding its strategic planning process.

Question 15

Match each term with the correct statement below.
-a strategy for competing by offering products or services that are different from those of competitors

Accepted Answer

Differentiation is a strategy where a company offers products or services that are distinct and different from those of competitors, aiming to attract customers who value those differences.

Question 16

Match each term with the correct statement below.
-a plan that identifies the markets in which an organization competes, as well as the ways in which it competes in those markets

Accepted Answer

A strategic plan is a document that outlines an organization's overall direction, including the markets it competes in and the methods it employs to compete.

Question 17

Match each term with the correct statement below.
-asks the question, "How can the organization get to where it wants to be?"

Accepted Answer

The answer of Match each term with the correct statement...

Question 18

Match each term with the correct statement below.
-asks the question, "Where does the organization want to be?"

Accepted Answer

The answer of Match each term with the correct statement...

Question 19

Match each term with the correct statement below.
-the process by which an organization makes decisions and takes action to enhance its long-run performance

Accepted Answer

Strategic planning is the process through which an organization defines its strategy or direction and makes decisions on allocating its resources to pursue this strategy, aiming to enhance its long-run performance.

Question 20

Match each term with the correct statement below.
-asks the question, "How will the organization know when it has arrived?"

Accepted Answer

Strategic evaluation and control is the phase in strategic management where the organization assesses its progress towards its goals, asking "How will the organization know when it has arrived?" This involves measuring performance, comparing it with the strategic goals, and making adjustments as necessary.

Quiz 4: Strategic Management and Planning in a Global Environment

Mr. Thomas Ryan, a manager with Bakter Construction, has been developing a system which he hopes will help monitor his organization's progress toward fulfilling its mission and achieving its strategic goals. This system would be associated with which stage of the strategic planning process?

Controls designed to predict changes in the external environment or the internal operations of an organization that may affect its ability to fulfill its mission and meet its strategic goals are

Controls that compare the actual performance of an organization to its planned performance are referred to as

Assume that Southwest Airlines is right when the company believes, and states, that a low price and on-time arrival and departure are important to its customers. This is an example of

Match each term with the correct statement below. -those environmental forces that are beyond a firm's influence and over which it has no control

Match each term with the correct statement below. -a statement of the reason for which the organization exists

Match each term with the correct statement below. -the fundamental way in which an organization competes in the marketplace

Match each term with the correct statement below. -a strategy for competing on the basis of price

Match each term with the correct statement below. -a thorough evaluation of the organization's strengths and weaknesses

Match each term with the correct statement below. -a strategy for competing by targeting a specific and narrow segment of the market

Match each term with the correct statement below. -those environmental forces that are within the firm's operating environment and over which the firm has some degree of control

Match each term with the correct statement below. -a comprehensive, general approach for achieving the strategic goals of an organization

Match each term with the correct statement below. -a thorough evaluation of environmental opportunities and threats

Match each term with the correct statement below. -the results the organization seeks to achieve in the long run

Match each term with the correct statement below. -a strategy for competing by offering products or services that are different from those of competitors

Match each term with the correct statement below. -a plan that identifies the markets in which an organization competes, as well as the ways in which it competes in those markets

Match each term with the correct statement below. -asks the question, "How can the organization get to where it wants to be?"

Match each term with the correct statement below. -asks the question, "Where does the organization want to be?"

Match each term with the correct statement below. -the process by which an organization makes decisions and takes action to enhance its long-run performance

Match each term with the correct statement below. -asks the question, "How will the organization know when it has arrived?"