Business 001 Ch. 6

According to the _____ of the New Mexico Nurses Association, the organization "is committed to advocating for all licensed nurses, promoting lifelong learning, and improving health care for all people."

Mission Statement

The Austrian-company Wienerberger is the world's largest brickmaker. It had to use the management function of _____ when it integrated the employees and manufacturing facilities that it gained from a merger with a brickmaking company in Great Britain.

Organizing

Two co-workers at Nortel came up with an idea for renting software over the Internet. Nortel's top management liked the idea and set up a special division called Channelware devoted to taking the idea and making a new product. The establishment of a new company and assigning the employees in the division the task of making an idea a reality requires which management function?

Organizing

_____ provides the structure of people, positions, departments, and activities within which the company objectives can be accomplished.

Organizing

A clothing wholesaler that buys most of its inventory from manufacturers in the Caribbean should have a _____ plan in the event a hurricane demolishes the manufacturing facility of one of its principal suppliers.

Contingency

Management needs to be prepared to deal with problems and seize opportunities as they arise. A company often identifies alternative courses of action to be taken if events undercut a strategic or tactical plan. These are called _____ plans.

Contingency

Strategic Planning

is the process of creating long-range, broad goals for the organization and determining what resources will be needed to accomplish these goals.

Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government owned water and sewerage system for the entire country. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. To achieve this goal, Manila Water's top management will first need to engage in _____ planning to determine what resources are needed to achieve this goal.

strategic

Reader's Digest Association, Inc., has published Reader's Digest magazine for over 80 years, and many believe the publication is dated and can no longer attract many readers. They believe _____ plans are needed to revamp the magazine's content, editorial staff, and readership.

strategic

An organization's _____ is its general purpose or reason for existence.

Mission

A _____ is a formal document that states an organization's purpose and reason for existing and describes its basic philosophy.

Mission Statement

Victorinox is the name of the company that manufactures Swiss army knives. As a result of new regulations governing what passengers could carry with them on airplane trips, the company has lost 30 percent of its business. In other companies, this might have led to business failure, but because Victorinox had _____ plans, it was able to continue to operate profitably.

Contingency

The _____ of the Booth Western Art Museum reads, "The Booth Western Art Museum will educate, entertain, and inspire a diverse audience by creating a place where people feel welcome, find meaning and value, and delight in exploring the uniqueness of Western American art and culture."

Mission Statement

Dean Jager is the supervisor of the volunteer staff at the Booth Western Art Museum. He makes the work assignments, determines work schedules, and makes sure the museum uses all its volunteer staff efficiently. Jager is involved in _____ planning.

Operational

Spring Airlines is a start-up business in China. It uses the management function of ____ to arrange that the three airplanes it operates are where they are supposed to be when they are supposed to be and have the appropriate number of operating personnel.

Organizing

_____ is the process of arranging the structures and relationships of human and material resources to carry out an organization's plans.

Organizing

_____ planning is the creation of long-range, comprehensive objectives and the development of long-term courses of action.

Strategic

Most firms have three distinguishable levels of management. They are:

Supervisory, middle, and top

After the World Cup soccer games, Puma, the German sporting goods manufacturer, increased its end-of-year sales target by $641 million. Puma developed _____ plans with a goal that extra sales would come from new product categories the company was introducing, sale of soccer equipment, and consolidation of several subsidiaries.

Tactical

The world's largest bank, Deutsche Bank, set as its objective to make its brand name as recognizable in the United States as FedEx and Visa are over the next ten years. The implementation of this long-range plan would require _____ planning.

Tactical

_____ planning is short-range, detailed planning that is based on long-range planning. It typically has a time frame that is less than one year long.

Tactical