Chapter 5

What are steps anyone can take to become a more proactive learner?

Participate in professional conversations Set realistic goals Take initiative and rely on yourself Focus on solutions rather than problems

Match the type of objective used in MBO with its focus

Performance objective: Express the objective as an outcome or end-result Behavioral objective: Express the objective as the behaviors needed to achieve an outcome Learning objective: Express the objective in terms of acquiring knowledge or competencies

Match the type of objective used in MBO with its focus.

Performance objective: Express the objective as an outcome or end-result Behavioral objective: Express the objective as the behaviors needed to achieve an outcome Learning objective: Express the objective in terms of acquiring knowledge or competencies

A(n) ________ learning orientation represents the desire to learn and improve one's knowledge, soft skills, and other characteristics in pursuit of personal development.

Proactive

One of the characteristics of SMART goals is that they are stated in specific rather than vague terms. Match each goals below to indicate whether it is vague or specific

Vague> as many planes as possible should arrive on time Specific> Ninety % of planes should arrive within 15 minutes of their scheduled arrival time

A __________ statement expresses what the company stands for, it's core priorities and what it's products contribute to the world

Values

A company's ________ statement should provide a clear sense of the future and the actions needed to get there.

Vision

A company's _____________ statement should provide a clear sense of the future and the actions needed to get there

Vision

What are the types of planning involved in the strategic management process?

Tactical Operational Strategic

To be effective, a company's vision statement should describe which of the following?

The future as being highly desirable

What is the second step in management by objectives?

The manager develops an action plan.

The vision statement should answer which of these questions?

What do we want to become?

A mission statement addresses which question ?

What is our reason for being?

An organization's vision represents ________

Where the organization wants to go

What would occur in the third step of management by objectives?

You and your manager meet to review progress.

One reason a company might create a bad strategic plan is because they make incorrect assumptions about what will happen in the market going forward

True

Which of the following are career readiness competencies?

Understanding a business Networking

The process of ensuring that the strategic goals set at the top align with more specific short-term goals at lower organizational levels is known as ________ goals.

cascading

In terms of SMART goals, an "attainable" goal is _____.

challenging but achievable

Strategic planning can help encourage new ideas by stressing the importance of __________ in achieving long-range success

innovation

What are the types of goals in business?

long term and short term

What are the planning steps in the planning/control cycle?

making the plan and carrying out the plan

Strategic ______ is a process that involves managers from all levels of the organization in the formulation and the implementation of strategies and strategic goals.

management

Short-term (tactical) goals are connected to long-term (strategic) goals in a hierarchy called the _______.

means-end chain

Who is responsible for tactical planning?

middle management

The __________ statement expresses the purpose of an organization

mission

A firm's business _______ should include a description of the need the firm will fill, the operations of the business, its components and functions, and the expected revenues and expenses.

model

Management by ______ is a four-step process in which managers and employees jointly set objectives, develop action plans, review performance, and appraise and reward employees.

objectives

It is the function of the _____ to take the strategic plan and develop actionable short-term goals that a business can achieve.

operating plan

first-line managers are typically responsible for performing ________ planning within the organization.

operational

An action plan _______

outlines the tactics that will be used to achieve a goal.

A business strategy, also known as a strategic _____, sets the long-term goals and direction for an organization.

plan

Making the plan and carrying out the plan represent the two _____ steps in the planning/control cycle.

planning

The ______ process helps us to cope with uncertainty by formulating future courses of action designed to help achieve specified results

planning

You can use the continuous feedback loop known as the _____ cycle to ensure you're headed in the right direction once you've made plans.

planning and control

Three benefits of _______ are that they can provide a company with direction and momentum, encourage new ideas, and help the company develop a sustainable competitive advantage.

planning and strategic management

To be an effective planner, you should be a(n) __________ learner in areas beyond the technicalities of your profession

proactive

An organization has a sustainable competitive advantage when, for an extended period of time, it can __________.

produce goods and services more effectively than its competitors do.

The management team gave the IT department until October 15 to complete the software installation. Which aspect of SMART goals does this deadline demonstrate?

target dates

The fourth and final step in management by objectives involves:

the manager making a performance appraisal and rewarding the employee according to the results

The manager and employee periodically reviewing the employee's performance represents the _____ step in management by objectives.

third

Which should be included in a firm's business model?

How the firm will market to customers The firms expected revenues and expenses A description of the industry the firm is entering

Match the criteria for successful goal setting with their correct descriptions.

- Top and middle management must be committed----> Average gains in productivity are significantly higher when there is buy-in to the goal setting process from upper levels of management - Goals must be applied organization-wide-----> The goal setting program cannot be applied in only some divisions or departments; it must be put in place throughout the whole company - Goals must cascade----> The strategic goals set at the top must align downward with more specific, short-term goals set at lower organizational levels

Which of the following are reasons that employers value a proactive learning orientation?

-It helps drive employee creativity and innovation. -It helps employees refine and enhance their skills sets throughout their careers.

Match the type of planning with the time frame to which it applies: Strategic planning Tactical planning Operational planning

1-5 years 6 months to 24 months 1 week to 52 weeks

For goal setting to be successful, what must occur?

Goals must be applied organization wide. Top management must be highly committed. Goals must cascade through the organization.

What is the usual span of time for a tactical goal?

12 months

Which type of objectives used in management by objectives (MBO)?

Behavioral Performance Learning

Operating plans accomplish which of the following?

Break long-term output into short-term targets or goals

What are characteristics of effective vision statements?

Clarity Idealism Future focus

An organization's ability to produce goods or services more effectively than its competitors is referred to as its _________

Competitive advantage

What are the control steps in the planning/control cycle?

Control the direction by comparing results with the plan. Control the direction by taking corrective actions.

Which of these represents measurable goals?

Customer service agents should improve customer relations by making 10 follow-up calls each week No more than 50% of cars should be sold below MSRP

What are advantages for a company that establishes deadlines?

Deadlines aid in making quicker decisions. Deadlines motivate employees to focus on the goal.

Which goals meet the SMART goal characteristic of specifying a target date?

Increase sales by the end of the first quarter File tax return by April 15

What are specific reasons why organizations should adopt planning and strategic management?

It encourages new ideas., It provides direction and momentum., and It helps the firm develop a sustainable competitive advantage.

Which of the following statements about strategic planning are true?

It requires visionary and directional thinking. It should communicate general goals and ways to achieve them.

Place the steps of the planning/control cycle in the correct order, with step one listed first and step four listed last

Make the plan Carry out the plan Control the direction by comparing results with the plan Control the direction by taking corrective action in two-ways

What is the first step in management by objectives?

Managers and employees jointly set objectives for the employee.

In the Strategic Management Process, the organization's strategies and strategic goals are formulated and implemented using _______

Managers from all parts of the organization

A company's ___________ is the purpose of the organization

Mission

The question "what is your reason for being?" Should be answered by the organization's ___________ statement.

Mission

The "measurable" aspect of a SMART goal refers to its ability to be __________

Quantified

In which phase of the planning/control cycle does a company have the opportunity to get a project back on track if it is failing to meet assigned objectives?

Step 4 - Control the direction by taking corrective action

A(n) ________ provides a guide for a company's long-term goals

Strategic plan

Organizations use _____ planning to determine what contributions the departments or work units can make toward the organization's strategic priorities and policies during the next 6-24 months

Tactical

A company's values statement expresses which of the following things?

The values it's employees embody What the company stands for The company's core priorities What it's products contribute to the world

Which of the following statements is true about short-term goals?

They are also known as operational goals They are also knows as tactical goals They are connected to strategic goals

Which of the following are true about long-term goals?

They focus on achieving strategies in the company's strategic plan. They are also referred to as strategic goals. They span one to five years.

Match the level of management with the type of planning for which it is typically responsible.

Top Management: Strategic Planning Middle Management: Tactical Planning First-line Management: Operational Planning

Which of the following verbs would be appropriate for a results-oriented goal?

acquire complete decrease

A(n) _________ plan defines the course of action a company should follow to achieve the stated goal

action

Goals that are challenging but are realistic and achievable within the scope of the resources available to a company satisfy which aspect of SMART goal criteria?

attainable

A document that outlines a proposed firm's goals, its strategy for achieving those goals, and the standards for measuring success is known as a _______.

business plan

________ help us to stay focused on the big picture, concentrate and make quicker decisions rather than putting them off, and ignore unimportant matters.

deadlines

Cascading goals is the process of

ensuring that strategic goals at the top align with the short-term goals set at lower levels in the organization

Managers and subordinates jointly setting subordinate objectives is the _____ step in management by objectives.

first

Managers and subordinates meeting to appraise performance, discuss results, and allocate rewards is the _____ step in management by objectives.

fourth

In business, a specific commitment to achieve a measurable result within a stated period of time is called a _____.

goal

A means-end chain is used in planning to show ___________

how goals are connected across an organization

When stating a goal, it is a good idea to start with the word "To" and follow with an action-oriented verb such as "increase" or "acquire." This describes the _____ aspect of SMART goals.

results oriented

Employees preparing action plans represents the _____ step in management by objectives.

second

A _________ goal is one that is specific, measurable, attainable, results-oriented, and has target dates.

smart

The letter S in the acronym SMART goal stands for what aspect of a good goal?

specific

What are characteristics of SMART goals?

specific, measurable, attainable, results-oriented, and have target dates.

Top managers use _______ planning to determine what the organization's long-term goals should be for the next one to five years with the resources they expect to have available.

strategic

A ______ sets the long-term goals and direction for an organization

strategy

According to management scholar Gary Hamel, companies like Apple have succeeded because their spirit of _____ has allowed them to reinvent the basis of competition within an existing industry.

strategy innovation

What behavior would a proactive learner most likely exhibit?

taking initiative

The purpose of management by objectives (MBO) is to _______ subordinates

to motivate

What groups should be involved in the strategic management process?

top managers, middle managers, first-line managers

Without having a plan in place, managers may focus only on _____ instead of keeping a long-range view and anticipating new opportunities.

whatever is in front of them