Question 1

The final step in the basic planning process is ____________.

Accepted Answer

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

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Tactics influence and often dictate the choice of strategies.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Manufacturers of sporting shoes use focus strategies.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

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

Question 7

Match the options below with the correct phrase:
-(BCG) Matrix star

Accepted Answer

A)  a type of business with large market share in a rapidly growing industry
B)  a type of business with a large market share in a stable, slow-growth industry
C)  managers use this strategy to stabilize supply lines, reduce costs, or consolidate competition
D)  responding to environmental threats in a somewhat haphazard way
E)  a strategy for holding your own ground in the marketF) an autonomous business division within a corporation that has its own product, market, and competitorsG) a corporate-level strategy for moving into new products or marketsH) the size or position of the business in the environmentI) the overall or total plan of actionJ) a plan that focuses on how each product line or business unit competes within an organization

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Defender strategy means capturing more market share.

Accepted Answer

A) True 
 B)False

Question 10

Match the options below with the correct phrases:
-cost-leadership strategy

Accepted Answer

A)  a business-level strategy to keep tight controls over expenses
B)  a strategy to acquire similar products or services
C)  a strategy to accept the status quo
D)  a business unit with low market share and low market growth rate
E)  the processes associated with putting the strategic plan into motionF) a strategy element that identifies the current position and its relationship to competitorsG) a strategy to explore "uncharted waters"H) a planning tool grouping businesses based on market growth rate and market shareI) a strategy to reduce the size or scope of activitiesJ) major organizational departments such as marketing and human resources are critical to this strategy

Question 11

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

Accepted Answer

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

Question 12

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.

Accepted Answer

A) True 
 B)False

Question 13

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 __________.

Accepted Answer

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

Question 14

Match the options below with the correct phrases:
-growth strategy

Accepted Answer

A)  a business-level strategy pinpointing a specific market
B)  a plan to maximize competitive advantage by using the proper mix of units and products
C)  includes assessing the environment, analyzing core competencies, and creating goals and plans
D)  a strategy as to how managers will allocate resources
E)  a corporate-level plan to expand and increase to higher levelsF) a search for pros and cons, opportunities, and threats as well as positives and negatives of an organizationG) a plan that maps out the destiny for the entire organizationH) a long-term course of action using planning and decision-making processesI) a business-level strategy that attempts to set products or services apart from those of other companiesJ) a business unit with small market shares in an expanding industry

Question 15

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

Accepted Answer

A) True 
 B)False  False

Question 16

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

Accepted Answer

A) True 
 B)False  False

Question 17

Capturing a larger portion of an existing product market would be considered a(n) ____________.

Accepted Answer

A)  retrenchment strategy
B)  stability strategy
C)  growth strategy
D)  diversification strategy

Question 18

Strategy objectives for human resources include all of the following except ____________.

Accepted Answer

A)  hiring/selecting
B)  training
C)  developing
D)  leading

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 4: Planning and Strategy

The final step in the basic planning process is ____________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Tactics influence and often dictate the choice of strategies.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Manufacturers of sporting shoes use focus strategies.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedB

Match the options below with the correct phrase: -(BCG) Matrix star

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Defender strategy means capturing more market share.

Correct AnswerverifiedShow Answer

Match the options below with the correct phrases: -cost-leadership strategy

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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 __________.

Correct AnswerverifiedShow Answer

Match the options below with the correct phrases: -growth strategy

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedFalse

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

Correct AnswerverifiedFalse

Capturing a larger portion of an existing product market would be considered a(n) ____________.

Correct AnswerverifiedShow Answer

Strategy objectives for human resources include all of the following except ____________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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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 __.

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False

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