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Exam 5: Planning and Decision Making

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Question 61

Multiple Choice

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In the context of the levels of planning, the formal planning model is _____, with top-level strategies flowing down through the levels of the organization into more specific goals and plans.

A) horizontal
B) hierarchical
C) tactical
D) concentrated
E) uncertain

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Question 62

Multiple Choice

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Raheem is quick to point out how much money will need to be spent up front, discounting the fact that in the long term the payout could be large. He is displaying

A) illusion of control.
B) framing effects.
C) discounting the future.
D) bargaining.
E) benchmarking.

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Question 63

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An organization's operational plans serve as the foundation for its strategic plans and tactical plans.

In the context of managerial decision making, when one can estimate the likelihood of various consequences but still does not know with certainty what will happen, he or she is facing

______ planning involves a process of translating broad strategic goals and plans into specific goals and plans relevant to a particular portion of an organization.

Satisficing is less likely with groups.

________ is a technique that helps managers summarize relevant and important facts from the internal and external analyses of an organization in order to formulate strategy.

List and explain the components of a strategic control system.

Senior managers throughout an organization may be involved in

If an organization's mission statement describes the organization as it currently operates then its strategic vision points to the

In the context of planning, a different ___________ plan is created.

Resources are a source of competitive advantage except when they are

Which of the following is one of the four levels of managers who use planning?

In the context of the levels of planning, an organization's strategic, tactical, and operational goals and plans must be _____ in order to be fully effective.

The manager of a restaurant noticed that the number of customers in the evening was decreasing. She promptly ordered the chef to revise the evening menu. Later, customer feedback indicated that the problem was not the menu but poor service from the wait staff. The manager's decision to have the menu revised suggests that she failed to

In the context of making a choice, _____ requires searching thoroughly for a complete range of alternatives, carefully assessing each alternative, comparing one to another, and then choosing or creating the very best.

When a group accepts an alternative to end a meeting, the group has reached an) _____ decision.

Pat has to select the right paper clips to purchase for her office. She looks at the office supply catalog and picks the first one that is priced reasonably. Which method of making a decision does she use?

_____ refers) to a decision bias influenced by the way in which a problem or decision alternative is phrased or presented.

Submarines Inc., a chain of sub shops, periodically compares the quality of its food and service with its competitors in order to continually improve its performance. This corporate strategy is known as