Management 3
Operational
A cell phone company manager has a goal of boosting the profitability of her store in the next year. Which type of goal has the manager set?
Tactical
As a middle manager, Luis sets goals for his staff. Which type of goals would Luis be expected to set?
Introduction
As the plant manager, Eli is concerned with having enough employees to meet production needs and managing cash flow for a specific product. Which stage of the product life cycle is Eli likely managing?
Strategy implementation
Sabine is focusing on the processes to use to achieve her strategies and goals for the year. What is Sabine working on?
They must specify resources and time frames.
Which of the following is true of tactical plans?
Strategic goal
Raj has empowered his senior managers and asked them to increase profitability by 20 percent over the next five years. What has Raj set for his senior managers?
Overall cost leadership
Using simple product design coupled with efficient high-volume manufacturing capacity may help a company achieve what?
Overall cost leadership
ZeroBreeze Inc. is an outerwear manufacturer that caters to a large customer base. In addition to the high volume of coats and jackets that it manufactures, the company sells light jackets for low prices. Many customers buy ZeroBreeze jackets because they are durable and inexpensive. Which of the following strategies is illustrated in the scenario?
Operational
_____ goals are set by and for lower-level managers.
Strategic
_____ plans are set by the board of directors and top management.
Weaknesses
What are the skills and capabilities that do not enable an organization to choose and implement strategies that support its mission?
Vertical and horizontal communication
What does proper execution of tactical plans depend on?
Growth rate and market share
What does the BCG matrix use to evaluate an organization's set of businesses?
Competitive position
What does the GE Business Screen use to determine the attractiveness of an organization?
The way it is carried out
What does the ultimate success of a tactical plan depend on?
Policy
What is a standing plan that specifies the organization's general response to a designated problem or situation?
A comprehensive plan for accomplishing an organization's goals
What is a strategy?
Ability to focus efforts in a targeted manner
What is the advantage of setting business-level strategies?
Stable performance over time
What is the advantage to those organizations who use unrelated diversification?
Tactical plans
What is the basis for operational plans?
To set a unified direction for employees
What is the one of the reasons why an organization would have organizational goals?
A SWOT analysis
When devising a new strategy, it is best to start with what?
Standard operating procedure
When training new salespeople, Dezmon teaches the employees a step-by-step process, and the sequence of activities, for qualifying prospects and arranging credit. What does Dezmon use to facilitate this process so he is certain the correct steps are followed in the correct order, every time?
Skills and capabilities that help an organization implement its strategies
When we refer to strengths in a SWOT analysis, what is being referred to?
plan for a large set of activities
A program is a_____.
Concentrating on reducing operating costs
A small retail shop in the local community offers a wide variety of women's clothing at low prices. In order to be competitive with larger chains found at the mall, the store owner frequently works alone, and she has adjusted store hours to capitalize on busy days. What should this retail shop owner be pursuing as part of her general business-level strategy?
cash cows
According to the BCG matrix, businesses that have a large share of a market that is not expected to grow substantially are considered _____.
Strategic management
Amina is working on developing and implementing ideas in order to take advantage of business opportunities and challenges in the market. Which skills will Amina need to use to approach those challenges and opportunities?
conglomerate
An organization that competes in dozens or even hundreds of markets is called a(n) _____.
Maturity
Overall demand growth for a product begins to slow down during which stage of the product life cycle?
They will serve as a mechanism for performance evaluation.
As part of Sushil's performance review, she was given a list of goals and objectives. How will her work on these goals affect her in the future?
Rules and regulations
At Montazar's organization, there is a specific start time, and all employees must be at work on time and ready to be at their workstation. This allows for a smooth transition between shifts. Which type of plan narrowly focuses on specific activities such as start times?
Perceived extra value
Based on differentiation strategy, why are customers willing to pay more for one product over a similar product?
Increasing efforts over the next year to develop a line of children's skin protection products
Bonafide Fresh offers an expanding brand of personal care products that are made with all-natural ingredients. The company has an organizational goal to increase the number of product lines that it offers. Which of the following is the best example of a tactical plan for achieving this objective?
Tactical
Carduci Corporation is a food processing company that specializes in a complete line of artisan sausage products. The top leaders in the organization have established a strategy that involves increasing the marketing budget to grow sales. Neal is the head of the marketing department, and it is his job to develop a plan that flows from and is consistent with the strategic plan. What type of plan will Neal work to develop?
Goals are targets, not absolute objectives.
Due to an explosion at a supplier's plant, L'Meese will no longer be able to achieve goals set by her division manager. What should L'Meese remember about goals?
Assigning two key employees as liaisons to the local high schools for the next year
Eastside Community Center (ECC) operates to "foster inclusiveness and empower teens" in the underprivileged neighborhoods of East Dalton, MN. Jane, the center's executive director, is one year into a three-year plan to double ECC membership. At this point, she has seen only a 10 percent increase in membership.Which of the following is the best tactical plan to better achieve the organization's goals?
mission
Eastside Community Center (ECC) operates to "foster inclusiveness and empower teens" in the underprivileged neighborhoods of East Dalton, MN. This statement of purpose, defined by the ECC's founding board of directors, is known as the organization's _____.
Distinctive competence
Eli makes custom-made leather handbags and wallets in a small shop. He is known for his fine leather products and hand stitching, as well as the lifetime warranty he offers on his products. His items are expensive, and he has no desire to increase the size of his shop. What has Eli developed within his shop?
Differentiation
Firms that successfully implement what type of strategy are generally able to charge more than competitors because customers are willing to pay more to obtain the extra value they perceive?
Single-product
Gnomatics sells just one type of product in the local marketplace. The staff works hard to ensure their product is successful, even though there really are no other companies that compete with them. Which type of strategy does Gnomatics use?
To determine asset allocation
How can managers use information provided by the GE Business Screen to manage their various business opportunities more effectively?
Strategy formulation is the set of processes involved in creating an organization's strategies, whereas strategy implementation is the methods by which those strategies are operationalized.
How does strategy formulation relate to strategy implementation?
Threats are uncovered by analyzing the organization's environment, while weaknesses are internal to the organization.
How is an organizational threat different from an organizational weakness?
Weakness
If your prices are higher than your competitor's prices, what does your company have?"
business scope
In Pleasantville, JJ's Auto Repair is where most residents go for any type of car repair. Inspired by his entrepreneurial son, JJ has decided to open a detailing shop on an adjoining property. If JJ elected to open an auto repair shop in the neighboring county, he would be expanding his _____.
Business-level
In Pleasantville, JJ's Auto Repair is where most residents go for any type of car repair. Inspired by his entrepreneurial son, JJ has decided to open a detailing shop on an adjoining property.Which type of strategy targets the market of local automobile owners for the purpose of increasing revenues?
distinctive competence
In Pleasantville, JJ's Auto Repair is where most residents go for any type of car repair. JJ employs six knowledgeable mechanics and provides these car experts with ongoing training to continually expand their knowledge and skill sets. By maintaining exceptional capabilities at his shop, JJ is solidifying his _____.
resource deployment
In Pleasantville, JJ's Auto Repair is where most residents go for any type of car repair. JJ wants to use his profits to expand the business. He is not sure whether to open a detailing shop on an adjoining property or to open an auto repair shop in the neighboring county. This choice of how to invest in his business would be a decision about _____.
By allowing the exploitation of skills and capabilities
In a SWOT analysis, how will the identification of strengths help to accomplish an organization's mission?
Specific resources and time frames
In order for a tactic to be successful, what must it include?
Unique reputation
In the context of SWOT analysis, which of the following would be considered as an organization's strength?
Low cash reserves
In the context of SWOT analysis, which of the following would be considered as an organization's weakness?
Crisis management
In the event of a disaster or other unexpected calamity, where can a plan with procedures for handling the disaster be found?
Maturity
In which stage of the product life cycle should an organization begin to search for new products or services as part of their strategy?
Focus
In which type of strategy does an organization concentrate on a specific regional market, product line, or group of buyers?
Related diversification
In which type of strategy does an organization operate in several businesses that are somehow linked with one another?
To determine which strategies for products need to evolve
In which way can managers use information from the product life cycle?
By setting business-level strategies
In which way do organizations determine alternatives for working in a particular industry or market?
Inventory and ordering occur regularly.
Jewel often uses standing plans while managing inventory levels and ordering within her organization. Why are standing plans effective for this process?
Related diversification
Jones International uses a mix of strategic business units (SBUs) allows the company to exploit its strengths and capabilities in more than one line of business and to exploit synergies across business lines. Jones International employs which type of corporate-level strategy?
Strategic plans
Marah has been tasked with the job of outlining decisions about resource allocation, priorities, and action steps that are necessary to reach one of his company's strategic goals. What is Marah developing?
Standard operating procedure
Neal is the head of the marketing department. Under his guidance, marketing supervisors have developed a three-stage operating plan to support the organization's goals. They are launching an online ordering system for retail and restaurant accounts. The new system simplifies and clearly outlines the steps to be followed from sales inquiry to final order payment. Which type of standing plan will be used to enhance the ongoing efficiency of the order management process?
Program
Neal is the head of the marketing department. Under his guidance, marketing supervisors have developed a three-stage operating plan to support the organization's goals. They are planning an elaborate six-month campaign to distribute samples to a wide variety of retail and restaurant outlets for the purpose of increasing brand identity. Which type of single-use plan will Neal's department use to accomplish this goal?
Portfolio management techniques
Olesia is managing the diversification of divisions for her organization. She wants to monitor how to engage and manage subsidiaries to maximize corporate performance. What should Olesia use to track this information?
Goals and plans
Ozlem has just finished reviewing the new mission for his organization. What will this mission help to determine?
A source of motivation
Pallavi knows that if she is able to achieve the goals set by her manager, she is likely to receive a bonus. In this case, what does the setting of goals serve as for Pallavi?
SWOT analysis
Petra is uncertain where to begin in formulating strategy for her division. What is a good place for her to start?
Synergy
Polani's company is a leader in the creation of mobile phone cases, and it recently has expanded to make cases for tablets and laptops. Polani's company is using related diversification. What is an advantage of this strategy for the firm?
Decline
Product differentiation, low costs, and the development of new products or services are key to a company's success at which stage of the product life cycle?
Strategic
Rebeya is setting goals with the executive team of her organization. These goals include financial and productivity goals, as well as environmental and sustainability goals. Which type of goals is Rebeya establishing?
Superior alignment with her environment
Rumi has found that selling gluten-free products at her bakery has been an effective strategy and has allowed her to achieve some of her strategic goals for sales. Which of the following makes this an effective strategy for Rumi?
Related diversification
Scott works for a firm that specializes in oil and gas products. During the last recession, one of the business units lost considerable income, but other parts of the business were healthy enough to offset that loss. Which type of corporate strategy was Scott's company using?
Operational plan
Tariq knows the production levels he wants to achieve this week and for the next three months. What does Tariq need to use when he determines the schedules of his employees?
threat
The area that increases the difficulty of an organization performing at a high level is a _____.
Rules and regulations
The exact description of how specific activities are to be carried out would be found in which type of plan?
question mark
The market for memory chips for electronic devices is growing at an incredible rate, and Whizz Industries has a small share of that market. According to the BCG matrix, Whizz Industries is a _____.
cash cow
The market for mountain bikes, while large, is not expected to grow much more. Ruff'n'Tuff Bikes has a major share of that market. According to the BCG matrix, Ruff'n'Tuff Bikes is a _____.
diversification
The number of different businesses that an organization runs, and the extent to which these businesses relate to one another, is represented by _____.
environmental
The planning process takes place within a(n) _____ context.
Evaluate every possible course of action in light of the goal it is intended to reach.
What is the first step that a manager should take in executing a tactical plan?
Strategy implementation
What is the method by which processes are operationalized or executed within the organization?
Strategy formulation
What is the process of creating or determining the organization's strategies?
Corporate-level strategy
What is the set of strategic alternatives from which an organization chooses as it manages its operations simultaneously across several industries and several markets?
It can modify its mission.
When a firm identifies a weakness within its organization, what can it do to address that weakness?
Step-by-step processes
When developing tactical plans, what should be included so they can be properly executed?
Related
Which is the most common type of diversification strategy for larger businesses in the United States?
Tactics
Which of the following focuses primarily on people and action?
Organizations can allocate capital to maximize corporate performance.
Which of the following is an advantage of unrelated diversification?
Understanding the environment
Which of the following is considered to be the first step in the planning process?
Standing plan
Which of the following is developed for activities that recur regularly over a period of time?
Goals
Which of the following is used to provide a source of motivation for an organization's employees?
Scope
Which of the following specifies the range of markets in which an organization will compete?
Differentiation
Which strategy would Pepsi use to promote its Aquafina brand on the basis of its purity?
Contingency
Which type of planning process requires a manager to determine alternative courses of action that can be taken if the intended plan becomes inappropriate?
Strategic
Which type of plans are an organized sequence of steps designed to execute which type of plans?
Only those that will impact the organization
Which types of events are used in the contingency-planning process?
They might indicate poor managerial skills.
Why do organizations have a difficult time focusing on weaknesses?
To ensure they achieve desired results
Why is it important that a manager continuously monitor ongoing activities tied to a tactical plan?
To correct them
Why is it important to identify weaknesses in a SWOT analysis?
