Management Chapter 5 study guide
at the top of the organization; individual employees.
Cascading goals being _____ and "cascade" to
Three Levels of Planning
The ______ are strategic, tactical, and operational.
What is our reason for being?; What do we want to become?
The planning process begins with two attributes: a mission statement and a vision statement. What questions are answered with each of these?
action plan.
You receive a memo
MBO
____ is the process for motivating employee performance
objective
_____ can be another term used for a goal
Operational planning
______ is planning done by first-line managers to determine how to accomplish specific tasks with available resources within the next 1 to 52 weeks.
To get financing and think through important details
______ is the primary reason that entrepreneurs create business plans
tactical planning
_______ is planning done by middle managers to determine what contributions their departments or similar work units can make with their given resources during the next 6 to 24 months.
Developing MBO
________ is the primary reason for an organization to adopt planning and strategic management
goal
A ______ is a specific commitment to achieve a measurable result within a stated period of time
rule
A ______ is a standing plan that designates specific required action.
procedure
A ______ is a standing plan that outlines the response to particular problems or circumstances.
closer to every one or two years than every five years
A company's strategic planning may have to be done _____ due to frequently changing competition and technology.
controlling the direction of the planning/control cycle
Alicia, a district manager for a global retailer, is traveling to different stores in her district to discuss with store managers how to increase profitability for the rest of the fiscal year. What is Alicia doing?
to jointly set objectives with their employees and to have managers develop action plans.
André, the plant manager, is interested in increasing the facility's productivity by utilizing MBO
Deal with uncertain and competitive conditions.
At the strategic level of planning, managers must pay attention to the environment outside the organization, be future oriented, and
tactical
At this point, the district managers need to determine how the stores in their district will achieve top management's goal with the given resources during the next 6 to 24 months. The district managers are developing ______ planning.
a cat-sitting service, where you take care of people's cats when they are on vacation; you decide to advertise your services on Craigslist and the local newspaper
Based on the VRIO framework, which of the following start-up companies has the least potential to have a competitive advantage, to be profitable, and to grow?
planning and strategic management
. ______ can help workers focus on critical problems, choices, and opportunities.
program
A _____ is a single-use plan encompassing a variety of projects or activities.
SMART goal.
Billy told his boss, Gwen, that he is going to start training for the upcoming marathon
strategic goals
Dave owns several computer repair shops across the Midwest, and he has set a goal for his company of cutting costs in all his locations over the next three years. Dave has set a(n)
write a business plan
Deon is opening a car wash, and he has approached SCORE, an SBA organization that assists small-business owners in setting up their companies. As a new business owner, the SCORE counselors would probably advise Deon to
Vision Statement
During a management meeting, Dave, the CEO of Top Office Equipment
objectives must cascade.
For MBO to be successful, top management must be committed to the program, MBO must be applied organizationwide, and
Mission Statement
Clothing maker Patagonia states that its purpose as an organization is to "build the best product, cause no unnecessary harm, [and] use business to inspire and implement solutions to the environmental crisis." This is the company's
control
John, the owner of a lawn care service,
cascade down
MBO works by objectives moving through the organization; that is, top managers set general organizational objectives, which are translated into divisional objectives, which are translated into departmental objectives. The hierarchy ends in individual objectives set by each employee. This is an example of MBO working as objectives ______ through the organization.
goal-setting process.
Management by objectives (MBO) and goal cascading will not work without an effective
"it should improve employee morale"
One Fortune article states that "vision should describe what's happening to the world you compete in and what you want to do about it" and
1 to 52 weeks; 6 to 24 months.
Operational planning must be completed by first-line managers every ____, and tactical planning is done by middle management every
Business model
Outlines the need the firms will fill, the operations of the business, its components and functions, as well as the expected revenues and expenses
project
Paula, the store manager, asked Tom to organize the prize giveaways for the store's grand reopening open house. Tom is organizing a(n)
operational goal
Susan is a front-line supervisor in a grocery retailer. She desires to decrease the rime she spends working on doing her daily closing work by 45 minutes. this objective set by Susan and for her is an example of a(n)
Goals should specify the target dates or deadline dates when they are to be attained.
The Human Resources department of French Quarter Seafood
values statement.
The Whole Foods chain of supermarkets has stated, "With great courage, integrity, and love, we embrace our responsibility to co-create a world where each of us, our communities, and our planet can flourish. All the while, celebrating the sheer love and joy of food." This proclamation is Whole Foods'
rule
The department chair of the IT department issued a directive that "Absolutely no food or drink are allowed in any computer lab."
writing a mission statement, creating a vision statement, and strategic planning
The first three steps in planning his organization are (in the correct order)
operating
The management of Quality Carpet Cleaning finalized the company's action plan for increasing its market share over the next few years.
Mission Statement
Elite Coffee and Bakery, a café
Managers determine each employee's strengths and weaknesses.
Which of the following is NOT a step in the process of management by objectives (MBO)?
"to offer the lowest prices on new hardcover books, anywhere in the world"
Which of the following is an example of a mission statement?
"An employee who comes to work intoxicated will be terminated immediately."
Which of the following is an example of a rule?
program
Which of the following is intended for one-time use and is not likely to be repeated in the future?
strategic goals > divisional goals > department goals > individual goal
Which sequence of goals is consistent with "cascading" goals that begin at the top of the organization?
It is not attainable.
While preparing a self-assessment of your job performance the previous year, you are required to list three goals for the coming year.
planning
While sitting at her desk, Ann is setting goals and deciding how to achieve them. She is
planning
With increasing competition in the restaurant business, Sal, owner of Mom's Pizza. . .
support the organization's vision.
With setting SMART goals, you should choose only a few goals on which to focus. These goals should be results-oriented and
a strategic plan
You are reading a business document that outlines your company's long-term goals
Is the resource or capability costly for other firms to imitate?
You have an idea for a company that sources fruits from local farms and makes fresh juices on a daily basis.
Motivating employees
___ is the overall goal of MBO.
operational goals
_______ are goals set by and for first-line managers and are concerned with short-term matters associated with realizing tactical goals.
single-use plans
_______ are plans developed for activities that are not likely to be repeated in the future, such as plans for programs or projects.
purpose of an organization
a mission statement expresses the
motivate subordinates.
The purpose of MBO is to
12 months; 1 to 5 years.
A short-term usually spans ______ while a long-term goal typically spans
procedure
A(n) _______ is being implemented when directing that the trucks be loaded in this specific manner.
code of ethics
Prior to opening her new restaurant, Nia is determining what items to offer on the menu, the anticipated profits and expenses, the tasks of various employees, and how those jobs will be handled. Nia is creating her
both management and subordinates participate.
Research on MBO shows that people are impelled to set more difficult goals when
make a concrete plan and break goals into manageable bites
Research suggests that when writing out a plan to achieve your biggest goals, it is important to
stretch goal
Setting a very challenging goal for yourself
rewards his employees with compliments, raises, and other benefits as they meet their goals
Steve, a hotel general manager, has had great success using MBO. Because Steve _________, Hannah is able to discern that he is using MBO.
ways to achieve them
Strategic planning should communicate not only general goals about growth and profits but also
Operational planning
Suppose you manage an upscale restaurant in New York City. __________ would involve writing employee schedules and a list of things to do for the chef and other kitchen staff.
correcting deviations in the plan being carried out or improving future plans.
The planning/control cycle has two control steps: (1) control the direction by comparing results with the plan and (2) control the direction by taking corrective action in two ways—namely, by
(1) make the plan, then (2) carry out the plan.
The planning/control cycle has two planning steps. They are
poor planning
The profits of ABC Grocery have dropped significantly over the last several months.
Tactical goals
The top management of Tasty Foods. . .
Doing strategic planning.
The upper-level managers of Synergy Technology are meeting for the week to look at the long-term company goals and overall direction of the organization. . . .
policy
This month, Alice, the branch manager of Quality Computer Sales, has heard several complaints
planning/control cycle.
To ensure that plans are moving in the right direction, managers can use the
value, rarity, imitability, and organization.
VRIO is a framework for analyzing a resource or capability to determine its competitive strategic potential by answering four questions. VRIO stands for
Vision Statement
Warby Parker, a manufacturer of fashionable prescription eyewear, notes on its website,
It outlines how goals are going to be met.
What is the primary objective of a plan?
big picture; the necessary details
When utilizing SMART goals or MBO, deadlines can help you keep your eye on the ______ while simultaneously paying attention to ______.
Which of the following companies is NOT one of the "frightful five" companies that dominate the Internet economy?
"In the next quarter, our Houston sales rep will increase sales by 10%."
Which of the following goals satisfies the SMART criteria?
