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Test bank For Management Meeting and Exceeding Customer Expectations by Plunkett, Warren R., Attner, Raymond F., Allen, Gemmy edition test bank

 

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Management Meeting and Exceeding Customer Expectations by Plunkett, Warren R., Attner, Raymond F., Allen, Gemmy edition test bank

CHAPTER 6CHAPTER 6
PLANNING AND STRATEGY

 

TRUE/FALSE
F 1. Planning is critical to the success of few
T 2. When a mission is formalized in writing and communicated to all organizational 154 members, it becomes the organization’s mission statement.
T 3. The mission statement should provide answers to why an organization
F 4. Events such as the terrorist attacks of September 11 have little effect on 155 the mission of companies such as Delta Air Lines.
T 5. According to management guru Peter Drucker, a mission statement 155 should answer, “What is our business? What should it be?”
T 6. Stretch goals are also called
T 7. A program is a single-use plan for an operation from its beginning to its 156 end.
F 8. Tactics influence and often dictate the choice of
F 9. The three most common types of plans are strategic, tactical, and
F 10. Long-term goals can be reached within one
T 11. Tactical plans are narrower in scope than strategic plans, but broader in scope than159 operational plans.
T 12. Operational plans fall into two major categories: single-use and standing
T 13. Single-use plans are assigned and accomplished over a fixed period of
F 14. Policies, procedures, and rules are known as single-use
T 15. Policies, procedures, and rules can apply to many different organizational
F 16. Rules designate “how” to accomplish or carry out work
T 17. The basic planning process begins with setting
F 18. The basic planning process ends with implementing the
T 19. Organizations use both internal and external sources for forecasting
F 20. Linear programming is a planning tool that can be used to determine the optimum 170 combination of leadership allocation and bureaucratic controls.
F 21. There are very few barriers to
F 22. Competing within the external environment does not impact organizational 172 strategic planning.
F 23. Strategic planning applies only to large corporations, not smaller
T 24. With a sharp strategic focus, a company can accomplish all of its
F 25. The synergy of a marketing strategy specifies the position or size the firm wants to 173 de-emphasize, given its environment.
T 26. Planning and decision making are the heart of strategy
F 27. Analyzing the environment is the first step in the strategic planning ;175
T 28. Evaluating results is part of the last step of the strategic planning
T 29. The grand strategy is the overall “plan of attack” for the
F 30. A diversification strategy is adopted if the company want to stay with the same or 179 existing products in the same markets.
F 31. Buying real estate properties for future store locations is a retrenchment
T 32. Managing a portfolio of business units is like managing a portfolio of unrelated 180 investments, such as stocks, bonds, and real estate.
F 33. Once the managers of a large diversified organization decide on a portfolio strategy, 180                         they develop a grand strategy.
F 34. Strategic business units are autonomous businesses with their own identities but 180 operate within the framework of many organizations. T 35. The Boston Consulting Group (BCG) would label an investment in a new typewriter180 manufacturing company as a dog.
T 36. Analyzer strategy is appropriate in an environment in which growth is possible, and 181 the organization is both efficient and creative.
F 37. Defender strategy means capturing more market
T 38. Manufacturers of sporting shoes use focus
T 39. Focus strategy is one type of competitive
F 40. Marketing, finance, and R&D are associated directly with differentiation
F 41. A cost-leadership strategy is one focused on keeping costs as low as possible 182                       through efficient operations and loose controls.
F 42. A management function-level strategy for production involves marketing goods and183 providing services.
T 43. The financial strategy of a firm involves decisions about the action to be taken with 183 profits, how funds will be spend or invested, and how any additional funds will be raised.

MULTIPLE-CHOICE (TEXT)

c 1. A formalized, written set of organizational ideas result in the corporate                .154 a. philosophy* b. motto c. mission statement d. rules manual b 2. Rules for writing and implementing mission statements include the following except:155 a. Keep the statement simple* b. Utilize statutory laws. c. Allow company-wide Rely on the statement for guidance.
b 3. A plan provides specific answers to all of the questions except:155 a. how.* b. why. c. who. d. when.
c 4. Which of the following questions applies directly to the function of planning?155 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? c 5. Which type of planning question addresses the methods or activities to reach the 156 goals?* a. what b. when c. how d. how much d 6. Resources required to attain a goal are addressed with what type of planning 156 question?* a. what b. when c. how d. how much b 7. A course of action created to achieve a long-term goal is called a _________, while a 157 course of action designed to achieve a short-term goal is considered a __________.* a. stretch goal, tacticb. strategy, tacticc. strategy, goald. LT tactic, ST tactic
c 8. The type of work activity that draws heavily on the leadership abilities of top 157 managers is the implementation of:** a. operating plans. b. production schedules. c. strategic planning. d. PERT diagrams. c 9. Long-term, company-wide goals are the primary responsibility of which 157 level of management?* a. first-line b. middle-level c. top-level d. trainee
c 10. Short-term goals set by middle managers that must be achieves in order 158 to reach top management’s goals are called:* a. strategic plan. b. operational goals. c. tactical plans. d. standing goals. d 11. A plan to determine how many employees will work next weekend would be which 160 of the following objectives?** a. occupational b. tactical c. institutional d. operational
c 12. A single-use plan for an operation from its beginning to its end is called a(n):160 a. policy.* b. process. c. program. d. project. d 13. Specifically, rules, policies, and procedures are known as                 a. single-use* b. temporary c. tactical d. standing d 14. Which type of plan would determine how many employees work next 160 week?* a. occupational b. tactical c. institutional d. operational
c 15. “No food or drink in the auditorium” is an example of which of 161 the following?* a. plan b. rule c. policy d. strategic goal
a 16. Programs and budgets are which type of operational plan?160 a. single-use* b. standing c. continuous, ongoing d. occupational d 17. Gathering reviews of a new product before launching the product to the public would 160 best represent a ;* a. standing planb. management objective c. product introduction pland. program
d 18. While                 are broad, general guidelines;                 are much more specific and161 control the do’s and don’ts of employees.* a. policies; programs b. rules; plans c. policies; plans d. policies; rules
b 19. Rules, policies, procedures, programs, and budgets are all known as __________160-161 plans.* a. strategic b. operational c. tactical d. single-use d 20. Procedures spell out the “               ” for a task or a. what* b. who c. when d. how d 21. A _______ is a broad guide for organizational members to follow when dealing with 161 important and recurring areas of decision making.* a. program b. budget c. standing plan d. policy
d 22. A series of administrative activities to process employee time cards is a               .161 a. rule* b. policy c. program d. procedure a 23. The authors recommend using a traditional management pyramid in the planning 162 process so that there is a ;* a. hierarchy of objectivesb. well thought out management by objectives systemc. a planning flowd. a bottom-up movement of ideas
a 24. The final step in the basic planning process is                .166 a. controlling and evaluating the results* b. implementing the plan c. evaluating the alternatives d. selecting the best solution b 25. The step in the basic planning process would the statement “This organization will165 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. b. 26. When developing alternatives, managers should:167 a. chose the ones that are most cost effective* b. create as many as possible to reach desired objectivesc. always include subordinates in the decisiond. stick with the one that makes most sense to the manager
c 27. Managers increase their chance of success in planning by beginning with:169 a. strong assumptions about the trends* b. a team leader who can manager his/her team c. quality informationd. all of the above
c 28. All planning is based on assumptions and:169 a. strategic controls.** b. leadership expectations. c. forecasts. d. organization restructuring.
c 29. Management by objectives (MBO) is a unique planning method because 169 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 d 30. Which level of management is “assigned” or associated initially with strategic 172                         planning?* a. first-line b. regional c. intermediate d. top
d 31. Resource deployment defines how the company intends to allocate its resources to 173 achieve its strategic goals include the following except:* * a. material. b. human. c. financial. d. cognitive.  c 32. For many organizations, what customers value often becomes the company’s:173 a. core competency* b. deployable resourcec. distinctive competitive advantaged. internal strength
c 33. A few dynamic thinking, top-level managers delegate strategic planning to            .174 a. stockholders* b. the general public c. line managers d. the board of directors d 34. Communication, incentives, structural changes, and new technology are the means 174 for                 the strategic plan.* a. growing b. positioning c. reacting d. implementing
a 35. The three levels of strategies are corporate, business, and                .174 a. functional * b. institutional c. situational d. operational b 36. If Taco Bell fast-food restaurants decided to start offering hamburgers on their menu,174 this decision would be considered a                .* * a. reactor strategy b. corporate-level strategy c. functional-level strategy d. retrenchment strategy b 37. The first step in the strategic planning process is to                .175 a. analyze the environment* b. take a close look at the mission c. define the mission d. formulate the strategy
b 38. An example of __________ strategy is Southwest Airlines’ marketing department 175 designing a pricing incentive for ;* a. business-level strategyb. functional-level strategyc. industry-specific strategyd. corporate-level strategy
d 39. In determining an organization’s strengths, a company’s strategist must consider177 which of the following* a. management structureb. market sharec. employee talentd. all of the above
a 40. When implementing strategy, the leadership challenge involves the ability to:178 a. influence subordinates to embrace the new strategy * b. coordinate information gathering sessions with employeesc. influence departments to design functional-level corporate strategiesd. coordinate a bottom-up focus on core competencies d 41. The “push and pull” or opposing nature between presidents and Congress in 178 recent decades specifically identifies with which element of organizational culture?* * a. human b. information systems c. structure d. leadership
d 42. Strategy objectives for human resources include all of the following except           .178-179 a. hiring/selecting* b. training c. developing d. leading d 43. Pepsi’s and McDonald’s plan to spread to various or new customer markets would179 be a strategic                .* * a. retrenchment strategy b. integration strategy c. diversification strategy d. growth strategy
c 44. Capturing a larger portion of an existing product market would be considered a(n) 179               .* a. retrenchment strategy b. stability strategy c. growth strategy d. diversification strategy a 45. A portfolio strategy is a proper mixture of                .180 a. business units and product lines* b. goals and objectives c. business products and services d. corporate and functional operations b 46. According to the BCG Matrix, Budweiser/Anheiser-Busch Brewing Corporation is a(n) 180              .* * a. star b. cash cow c. question mark d. cow c 47. According to the BCG Matrix, a type of business referred to as a question mark 180 would have a                .* a. low market share and low market growth rate b. low market growth rate and high market share c. low market share and a high market growth rate d. high market share and a high market growth rate d 48. Which of the following is not a type of business unit identified or labeled by the 180-181 Boston Consulting Group (BCG) Matrix? a. stars b. dogs c. question marks d. tigers
d 49. Which two “market” axes form the dimensions of the BCG Matrix?180 a. stars and dogs** b. increases and decreases c. cash cows and question marks d. growth rates and shares
b 50. If an organization is focused on holding current market share, the kind of strategy that 181 is being performed may be considered:* a. prospector strategyb. defender strategyc. analyzer strategyd. market share strategy a 51. If the proportionate number of consumers for cigarettes (smokers) continues to 181   decline, larger and more established tobacco corporations such as Reynolds** should definitely not formulate which strategy?