MGT 301 - Ch5

Which of the following is an example of a way in which Mi Ola uses core competence to achieve competitive advantage? Check all that apply.

An avid surfer, Helena Fogarty is personally aware of what Mi Ola's customers need in a swimsuit. Helena Fogarty has many years of experience in different aspects of the fashion industry.

On September 30, the manager reports that call center hold times for the summer construction season averaged 42 seconds, with 30 percent of all calls not being put on hold at all but 2 percent of calls exceeding 90 seconds of hold time. The plan is rated mostly successful.

Appraising performance

When conducting a SWOT analysis, budgets, ratios, and sales reports can be used to identify:

Company strengths and weaknesses

Alabama Airlines has three planning specialists who help division managers develop their own division plans. Serving as consultants to the divisions, the planning specialists give advice about strengths, weaknesses, opportunities, and threats. Alabama Airlines is utilizing which of the following approaches to the planning function?

Decentralized planning staff

Jeff is a top manager at a textile factory. He is developing a crisis plan in the event that the company has a toxic spill or accident. Which of the following should Jeff undertake to prepare for such a crisis?

Designating a crisis management team in the event of an environmental disaster

Which of the following is true about the cash cow?

It has a large market share in a slow-growth industry.

Helena mentions that she might "allocate one-third of the revenue that I get from e-commerce into the cost for e-commerce." Which of the following accurately describes this statement?

This is a tactical plan.

A company that strictly controls expenses is likely to use a low-cost leadership strategy. Differentiation strategies can reduce the bargaining power of large customers. When using a focus strategy, a company tries to create a product that will appeal to the broadest possible customer base.

True; True; False

As a manager, you have been asked to work with your employees to develop goals. What can you expect from this process? Check all that apply.

When deciding whether goals and plans will be beneficial, managers should consider whether the environment is more stable or more dynamic. A benefit of goals is that they help motivate employees.

Managers are engaged in ____________ when they determine desired outcomes and the means to achieve them.

planning

For nonprofit organizations, strategy is long-term thinking related to ______________________

responding to the needs of stakeholders

A long-term time frame is most closely associated with:

strategic plans

Last winter, a guest at a nearby motel fell through the ice and was not rescued in time. The motel's name was included in news coverage of the death, resulting in negative publicity. Also, since the incident, the motel has not been able to rent out the room where the dead guest stayed. What should Dave and Betsy do with this information?

Develop a crisis plan that includes a notification system, so anyone using the lake can notify Kozy Korner of an emergency, and a supply of rescue equipment like ropes.

A pool of twelve contingent call center workers who work at home will be hired and trained before April 15. These employees can be activated anytime hold times threaten to exceed 90 seconds.

Developing an action plan

Identify whether each of Julie's ideas is a goal or a plan: By the time I start my next contract, 3 of my unlicensed electricians will be licensed. Two months from now, I will have 15 licensed electricians working for me. I'll recruit people in an International Brotherhood of Electrical Workers apprenticeship program, since they will be more likely to have the skills they need to get their license.

Goal; Goal; Plan

Which of the following is NOT one of the benefits of MBO?

Operational goals are able to displace strategic goals.

Which of the following is a commonly-cited limitation of planning?

Plans can create a false sense of security.

On April 1, the manager sees that nine contingent call center workers have been hired and completed training. On June 30, call center data show 5 percent of calls are on hold for more than 90 seconds.

Reviewing progress

From where does the information about opportunities and threats come?

Scanning the external environments

Based on data on how long people wait before hanging up, the manager decides the maximum time on hold should be 90 seconds.

Setting a goal

Considering all of the factors listed in the preceding SWOT analysis question, which of the following strategies would make the most sense for the Cubs in the upcoming season?

Sign a free-agent outfielder to bolster the current roster and sign the current pitchers to long-term contracts.

__________ refers to the use of managerial and organizational tools to direct resources toward achieving strategic outcomes.

Strategy execution

Investors are looking for a "hockey stick" curve in revenues, meaning that they will increase dramatically. ______________ would be one way to drive such spectacular growth.

Stretch goals

Which of the following factors should be classified as a threat to the team?

Teams like the Texas Rangers and Cleveland Indians have a tough time finding players due to the extreme talent already on their teams.

Imagine that the American Red Cross Board of Governors sets a goal of increasing online donations by 15 percent year over year for the next three years. They view this goal as very challenging but achievable. Why might the organization's leaders set such an ambitious goal? Check all that apply.

To meet goals well beyond what has been accomplished before, members of the organization often find creative and innovative ways to do things. Highly ambitious goals can inspire employees and volunteers.

Double Click, Inc. has a number of strategic business units. Its handheld computer unit has a large market share in this rapidly growing industry. Its handheld computer business would be classified as:

a star

To get his employees on board with his goal of becoming the number car dealership in the Dallas-Ft. Worth area, Tex used ________________. He talked to his customers and other managers, addressed conflicts between managers, and broke down barriers between departments.

coalitional management

At a company located in California, the management team engages in _______________ to develop detailed plans in case of a devastating earthquake.

crisis planning

Typically set by frontline managers, ___________________ are the precise, measurable outcomes expected from departments, work groups, and individuals.

operational goals

Fred has been assigned to conduct a SWOT analysis for his organization, Acme, Inc. As part of this assignment, Fred will:

search for the strengths, weaknesses, opportunities, and threats that impact his firm.

During ________________, managers determine the organization's goals and develop a specific strategic plan.

strategy formulation

To energize employees and inspire excellence, an organization may set _______________ , which are reasonable yet highly ambitious.

stretch goals

When referring to a SWOT analysis, the letter W stands for ________________ , and it refers to factors that are internal Correct to the organization.

weaknesses