Chapter 5

_____ refers to what sets an organization apart from others and provides it with a distinctive edge for meeting customer or client needs in the marketplace. a. Organizational culture b. Due diligence c. Organizational nepotism d. Competitive advantage

d. Competitive advantage

_____ identifies important factors in the environment and defines a range of alternative responses to be taken in the case of emergencies, setbacks, or unexpected conditions. a. Single-use planning b. Tactical planning c. Strategic planning d. Contingency planning

d. Contingency planning

When managers look at current trends, visualize the future, and think about what could be, rather than looking only at history and thinking about what has been, they are most likely using _____. a. random sampling b. job evaluation c. company branding d. scenario building

d. scenario building

Kia, a top-level manager in a software firm, is allocating the company's resources to meet the organization's long-term goals. She is also defining the organization's activities for the next five years. In this scenario, Kia is most likely contributing to developing the company's _____. a. tactical plan b. single-use plan c. ad hoc plan d. strategic plan

d. strategic plan

In the context of competitive advantage, when an organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone, it is referred to as _____. a. turnover b. catharsis c. dysergy d. synergy

d. synergy

A company that strictly controls expenses is likely to use a low-cost leadership strategy. True False

True

Differentiation strategies can reduce the bargaining power of large customers. True False

True

In a BCG matrix, the __________ exists in a new, rapidly growing industry, but has only a small market share a. star b. question mark c. dog d. cash cow

b. question mark

_____ is a system whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance. a. Authoritarian management b. Autocratic leadership c. Management-by-objectives d. Centralized leadership

c. Management-by-objectives

Which of the following goals applies primarily to middle management? a. Operational goals b. Strategic goals c. Tactical goals d. Ad hoc goals

c. Tactical goals

Which of the following statements is a characteristic of effective goals? a. They are not challenging. b. They are not too specific. c. They are linked to rewards. d. They are flexible in terms of time period.

c. They are linked to rewards.

In the context of the BCG (Boston Consulting Group) matrix, the _____ exists in a mature, slow-growth industry but is a dominant business in the industry, with a large market share. a. dog b. star c. cash cow d. question mark

c. cash cow

In the context of the BCG (Boston Consulting Group) matrix, the _____ is a poor performer that has only a small share of a slow-growth market. a. cash cow b. star c. dog d. question mark

c. dog

An organization's _____ is at the top of its goal hierarchy. a. ad hoc goal b. strategic goal c. mission statement d. tactical plan

c. mission statement

The results expected from departments, work groups, and individuals are a. tactical goal b. strategic goal c. operational goal d. distal goal

c. operational goal

Goals that are precise and measurable and carried out by departments, work groups, and individuals are called _____. a. official goals b. tactical goals c. operational goals d. strategic goals

c. operational goals

What is the most fundamental of the 4 management functions? a. Leading b. organizing c. planning d. controlling

c. planning

Opportunities and Threats are:

External

Characteristics of Effective Goals:

Are Specific & Measurable Have Defined Time Period Cover Key Result Areas Challenging but Realistic Are Linked to Rewards

When using a focus strategy, a company tries to create a product that will appeal to the broadest possible customer base. True False

False

_____a desired future circumstance or condition the the organization attempts to realize (future end plans)

Goal

Strength's and Weaknesses are:

Internal

_____ a blueprint for goal achievement and specifies the necessary resource allocations, schedules, tasks, and other actions

Plan

When managers engage in a systematic analysis of the organization's internal and external environment, they are engaged in

SWOT analysis

_____ are broad statements of where an organization wants to be in the future and pertain to the organization as a whole, rather than to specific divisions or departments. a. Strategic goals b. Ad hoc goals c. Tactical goals d. Operational goals

a. Strategic goals

_____means that top executives or planning experts work with managers in major divisions or departments to develop their own goals and plans. a. decentralized planning b. autocratic leadership c. top-down leadership d. centralized planning

a. decentralized planning