Mngt 301 Quiz 2
Which of the following statements is true about strategic plans? a. They focus on the immediate functional aspects of an organization. b. They have moderate interdependence and cross-functional relevance. c. They focus on the broad future of the organization. d. They have a narrow scope, a departmental focus, and a short time frame.
They focus on the broad future of the organization.
Which of the following is the purpose of operational plans? a. They focus on the broad future of the organization. b. They align tactical planning with the overall strategic direction of the company. c. They underscore the interdependence of tactical and strategic plans. d. They translate tactical plans into specific goals/actions for small organizational units.
They translate tactical plans into specific goals/actions for small organizational units.
An external analysis, the second step of the strategic management process, helps identify ________. a. the long-term goals of a company b. a company's concern for its employees c. a company's opportunities and threats d. the products that a company makes
a company's opportunities and threats
In the process of strategic management, the ________ strategy determines what business or businesses the firm wishes to operate. a. unit-level b. functional c. corporate-level d. business-level
corporate-level
SockUp is a company that manufactures socks of different sizes, types, and colors for men, women, and children. The company aims at being the lowest-cost provider and charges slightly lower than the market price. This is an example of ________. a. multipoint competition strategy b. cost leadership strategy c. differentiation strategy d. integrated leadership strategy
cost leadership strategy
A ________ facilitates the use of modular products, each of which is different but which contain some of the same parts. Thus, modular parts are produced and assembled in different ways to produce several different products. a. matrix structure b. division structure c. customer structure d. regional structure
division structure
Ferrari differentiates its products based on style and performance and targets a narrow segment of customers. Ferrari is pursuing a(n) ________. a. focused cost leadership strategy b. multipoint competition strategy c. integrated differentiation-cost leadership strategy d. focused differentiation strategy
focused differentiation strategy
Multinational firms usually use ________ structures when customer needs for a given product are similar throughout the international markets in which the firm participates. a. multiproduct b. global product c. functional d. divisional
global product
Which of the following makes up the three main types of corporate strategies? a. renewal, retrenchment, diversification b. growth, retrenchment, renewal c. growth, stability, renewal d. growth, vertical integration, horizontal integration
growth, stability, renewal
Campacola is a soda company that is seeking to enter the market by introducing an unusual line of sodas that contain granules that pop in the mouth. It intends to sell these sodas at no greater cost than normal sodas. What strategy is the company using in entering the soda market? a. cost leadership strategy b. multipoint differentiation strategy c. integrated differentiation-cost leadership strategy d. focused differentiation strategy
integrated differentiation-cost leadership strategy
When a firm decides to outsource its manufacturing operations, a ________ allows it to maintain close contact with the firms to which it is outsourcing the work. a. geographic structure b. functional structure c. division structure d. network structure
network structure
Which of the following types of plans is the least complex and rarely has a direct effect on other plans outside of the department or unit for which they were developed? a. tactical plans b. operational plans c. strategic plans d. directional plans
operational plans
A firm's value chain consists of ________. a. primary and secondary activities b. regional and global activities c. primary and support activities d. observable and surreptitious activities
primary and support activities
A bank organizes itself around the basic services it provides: personal banking, corporate and business banking, and rural banking. Each service group has its own finance, marketing, operations, and human resource management departments. The bank is using a ________. a. matrix structure b. functional structure c. product structure d. division structure
product structure
The ________ specifies the number of employees reporting to a given supervisor. a. unity of command b. Organizational chart c. line of authority d. span of control
span of control
A(n) ________ provides a view of the firm over the long term and what it should achieve in the future. a. annual report b. strategic vision c. multipoint competitive analysis d. differentiated leadership strategy
strategic vision
SWOT analysis stands for ________. a. strengths, weaknesses, opportunities, and tools b. strengths, weaknesses, opportunities, and threats c. strengths, weaknesses, organizations, and tools d. strengths, weaknesses, organizations, and threats
strengths, weaknesses, opportunities, and threats
Growth strategies include ________. a. diversification, concentration, integration, stabilization b. vertical integration, horizontal integration, lateral integration, horizontal concentration c. vertical integration, horizontal integration, concentration, diversification d. integration, renewal, horizontal diversification, vertical diversification
vertical integration, horizontal integration, concentration, diversification
________ is the the process of assessing an organization's strategy and environmental demands and then determining the appropriate organizational structures. a. Organizational development b. Organizational chartering c. Organizational structuring d. Organizational design
Organizational design
_______ is a decision-making process that focuses on the future of an organization and how it will achieve its goals. a. Implementation b. Budgeting c. Planning d. Programming
Planning