Management and organization chapter 5

Which should be included in a firm's business model? (Choose every correct answer.) Multiple select question. The firm's strategy for achieving its goals A description of the industry the firm is entering The firm's standards for measuring success How the firm will market to customers The firm's expected revenues and expenses

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

First-line managers are typically responsible for performing ______ planning within the organization. Multiple choice question. operational strategic long-term tactical

First lie

Which of the following statements about strategic planning are true? (Choose every correct answer.) Multiple select question. It should be done approximately every ten years. It focuses primarily on the organization's short-term goals. It requires visionary and directional thinking. It should communicate general goals and ways to achieve them.

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

Who is responsible for tactical planning? Multiple choice question. First-line management Middle management Top management

Middle

A company's _____ is the purpose of the organization. Multiple choice question. vision strategy mission plan

Mission

The ______ statement expresses the purpose of an organization. Multiple choice question. operational vision values mission

Mission

______ planning is used to determine how to accomplish specific tasks with available resources within the next 1 -- 52 weeks. Multiple choice question. Strategic Operational Tactical Long-range

Operational

The purpose of ______ is to set goals and decide on the courses of action that will be used to achieve them. Multiple choice question. controlling planning organizing leading

Planning

Strategic planning can help encourage new ideas by stressing the importance of ______ in achieving long-range success. Multiple choice question. competition innovation blinders rigidity

Stragety

Strategic planning is done by ______ managers. Multiple choice question. top operations first-line middle

Top

A ______ statement expresses what the company stands for, its core priorities and what its products contribute to the world. Multiple choice question. strategic values mission vision

Values

The vision statement should answer which of these questions? Multiple choice question. How many people should we hire? What is our reason for being? How much profit do we want to make? What do we want to become?

What do we want to become?

Without having a plan in place, managers may focus only on ______ instead of keeping a long-range view and anticipating new opportunities. Multiple choice question. whatever is in front of them competitors' movements overall company strategy emerging opportunities for expansion

What ever is in front of them

A company's values statement expresses which of the following things? (Choose every correct answer.) Multiple select question. What its products contribute to the world What the company stands for The company's purpose The values its employees embody What the company wants to become The company's core priorities

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

A means-end chain is used in planning to show ______. Multiple choice question. the measurable result of a decision how goals are connected across an organization how product will be delivered to the end consumer the level of competition within an industry

how goals are connected across an organization