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Exam 4: Planning and Strategic Management

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Question 41

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Stakeholders are

A) those who are affected by the organization.
B) those who might affect the organization.
C) those who own the organization.
D) those who work in the organization.
E) all of the above.

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Question 42

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A strategic control system must simultaneously pursue both efficiency and flexibility.

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Question 43

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A business's basic statement of purpose refers to its

An organization's strategic,operational and tactical goals must be

Which of the following is a component of strategic management?

Environmental analysis examines which of the following?

Scenario D. Mario has been hired as a consultant by the board of Conscious Commitment, a self-help education service company, to align the corporate strategy with its tactical and operational plans. Somehow things have gone awry. The board and senior management developed a thorough strategic plan centered on commitment to the customer and quality delivery of its services. To their dismay, recent customer evaluations indicate customers are treated poorly by the front-line educators. The educators complain that they are asked to serve the customer well yet do not have adequate resources to do it. Additionally, when the educators need advice, upper-level managers never seem to be available and a recent survey of the educators found that most of them were not aware of the strategic plan at all! -Which of the following suggestions should Mario make to the board to correct the problem of unavailable upper-level managers?

Inputs to a system that can enhance performance are called

Sallie's Candies manufacturers fine chocolates and is widely known in the Western U.S.Sallie's is thinking of purchasing Tempting Toffees,a small firm that specializes in the manufacture of sugar-free hard candies.Because of the uptick in obesity in the U.S. ,the market for sugar-free hard candies is increasing at a growing rate.However,Tempting Toffees is not well known in the U.S.market though Sallie's believes Tempting Toffees makes a great product.Tempting Toffees is most likely a __________ according to the BCG matrix.

The process of assessing how well one company's basic functions and skills compare to those of another company or set of companies is called

Making decisions about the organization's short-term goals and strategies is called strategic planning.

Recently McDonald's opened McCafes that sell various types of specialty coffees within its stores.In this example,McDonald's would appear to be following which type of corporate strategy?

Strategic management involves managers from all parts of the organization in the formulations and implementation of strategic goals and strategies.

There are four key drivers of a firm's long-term success: people,processes,customer value,and growth in financial assets.

Given that Kleenex Facial Tissue has the largest market share but is in a declining growth industry,it is probably safe to assume that Kleenex Facial Tissue would be located where on the Boston Consulting Group Matrix for its parent corporation?

Tactical planning would include which of the following?

Traditionally,strategic planning has emphasized a _______ approach.

A tactic is a pattern of actions and resource allocations designed to achieve the goals of the organization.

Which is the first step in the formal planning process?

_______ planning translates broad strategic goals and plans into specific goals and plans that are relevant to a definite portion of the organization.