MGMT 3013

Managers and subordinates jointly setting subordinate objectives is the ______ step in management by objectives. first fourth third second

A: First

The company's mission statement tells us ______. A: the company's reason for being B: what the company wants to become C: what the company cares most about D: where the company wants to go strategically

A: the company's reason for being

Without having a plan in place, managers may focus only on ______ instead of keeping a long-range view and anticipating new opportunities. A: whatever is in front of them B: overall company strategy C: competitors' movements D: emerging opportunities for expansion

A: whatever is in front of them

Operating plans accomplish which of the following? Consolidate short-term goals into a long-term vision Break long-term output into short-term targets or goals Turn strategic plans into actionable long-term goals

B: Break long-term output into short-term targets or goals

What are characteristics of SMART goals? (Choose every correct answer.) A: Attainable B: Have target dates C: Specific D: Have sustainability C: Results-oriented E: Are impossible to complete F: Measurable

C: Specific (S) F: Measurable (M) A: Attainable (A) C: Results-oriented (R) B: Have target dates (T)

A ______ sets the long-term goals and direction for an organization. A: model B: mission C: strategy D: policy

C: Strategy

A ______ statement expresses what the company stands for, its core priorities and what its products contribute to the world. A: strategic B: vision C: values D: mission

C: Values

Goals that are challenging but are realistic and achievable within the scope of the resources available to a company satisfy which aspect of SMART goal criteria? Multiple choice question. Measurable Targeted Simplified Attainable

D: Attainable

The process of ensuring that the strategic goals set at the top align with more specific short-term goals at lower organizational levels is known as ______ goals. Multiple choice question. organization-wide SMART divisional cascading

D: Cascading

An organization's ability to produce goods or services more effectively than its competitors is referred to as its ______. A: mission statement B: strategic plan C: strategy innovation D: competitive advantage

D: Competitive advantage

In business, a specific commitment to achieve a measurable result within a stated period of time is called a ______. strategy plan tactic goal

D: Goal

Who is responsible for tactical planning? Middle management Top management First-line management

A: Middle management

The question "what is our reason for being?" should be answered by the organization's ______ statement. A: mission B: vision C: values D: operational

A: Mission

A firm's business _______ should include a description of the need the firm will fill, the operations of the business, its components and functions, and the expected revenues and expenses. A: model B: statement C: strategy D: plan

A: Model

Select all that apply Which of these represent measurable goals? (Choose every correct answer.) A: No more than 50% of cars should be sold below MSRP. B: Customer service agents should improve customer relations by making 10 follow-up calls each week. C :Measures should be taken to drastically improve customer service.

A: No more than 50% of cars should be sold below MSRP. B: Customer service agents should improve customer relations by making 10 follow-up calls each week.

A business strategy, also known as a strategic ______, sets the long-term goals and direction for an organization. A: plan B: model C: goal D: mission

A: Plan

A ______ goal is one that is specific, measurable, attainable, results-oriented, and has target dates. SMART challenging long-term good

A: SMART

______ help us to stay focused on the big picture, concentrate and make quicker decisions rather than putting them off, and ignore unimportant matters. A: Deadlines Employees Cascades Managers

A: Deadlines

Select all that apply What are advantages for a company that establishes deadlines? (Choose every correct answer.) A: Deadlines motivate employees to focus on the goal. B: Deadlines aid in making quicker decisions. C: Deadlines ensure excellent quality work. D: Deadlines create competition among the staff.

A: Deadlines motivate employees to focus on the goal. B: Deadlines aid in making quicker decisions.

Select all that apply For goal setting to be successful, what must occur? (Choose every correct answer.) A: Goals must be applied organization wide. B: Goals must cascade through the organization. C: The goal setting program should be limited to small subsets of workers. D: Divisional goals should supersede strategic goals. E: Top management must be highly committed.

A: Goals must be applied organization wide. B: Goals must cascade through the organization. E: Top management must be highly committed.

Select all that apply Which should be included in a firm's business model? (Choose every correct answer.) A: How the firm will market to customers B: A description of the industry the firm is entering C: The firm's strategy for achieving its goals D: The firm's standards for measuring success E: The firm's expected revenues and expenses

A: How the firm will market to customers B: A description of the industry the firm is entering E: The firm's expected revenues and expenses

Select all that apply Which of the following are reasons that employers value a proactive learning orientation? (Choose every correct answer.) A: It helps employees refine and enhance their skills sets throughout their careers. B: It reduces the amount of time employers spend developing learning objectives. C: It helps drive employee creativity and innovation

A: It helps employees refine and enhance their skills sets throughout their careers. C: It helps drive employee creativity and innovation

Select all that apply Which of the following statements about strategic planning are true? (Choose every correct answer.) A: It should communicate general goals and ways to achieve them. B: It focuses primarily on the organization's short-term goals. C: It requires visionary and directional thinking. D: It should be done approximately every ten years.

A: It should communicate general goals and ways to achieve them. C: It requires visionary and directional thinking.

Select all that apply What are the planning steps in the planning/control cycle? (Choose every correct answer.) A: Making the plan. B: Carrying out the plan. C: Correcting deviations in the plan. D: Improving the plan.

A: Making the plan. B: Carrying out the plan.

Select all that apply What are steps anyone can take to become a more proactive learner? (Choose every correct answer.) A: Set realistic goals. B: Follow along with group decisions. C: Engage in groupthink. D: Participate in professional conversations. E: Focus on solutions rather than problems. F: Take initiative and rely on yourself. G: Judge others carefully and thoughtfully.

A: Set realistic goals. D: Participate in professional conversations. E: Focus on solutions rather than problems. F: Take initiative and rely on yourself.

Select all that apply What are the types of goals in business? (Choose every correct answer.) A: Short-term B: Nonspecific C: Long-term D: Noncommittal

A: Short-term C: Long-term

Select all that apply A company's values statement expresses which of the following things? (Choose every correct answer.) A: The company's core priorities B: The values its employees embody C: What its products contribute to the world D: What the company wants to become E: The company's purpose F: What the company stands for

A: The company's core priorities B: The values its employees embody C: What its products contribute to the world F: What the company stands for

Which of the following are true about long-term goals? (Choose every correct answer.) A: They are also referred to as strategic goals. B: They show how goals are linked across an organization. C: They span one to five years. D; They are also referred to as tactical goals. E: They focus on achieving strategies in the company's strategic plan.

A: They are also referred to as strategic goals. C: They span one to five years. E: They focus on achieving strategies in the company's strategic plan.

The vision statement should answer which of these questions? A: What do we want to become? B: What is our reason for being? C: How much profit do we want to make? D: How many people should we hire?

A: What do we want to become?

What would occur in the third step of management by objectives? You and your manager meet to review progress. You and your manager jointly set objectives. You prepare action plans. You are compensated for your work achievements.

A: You and your manager meet to review progress.

Select all that apply Which of the following verbs would be appropriate for a results-oriented goal? (Choose every correct answer.) A: decrease B: develop C: implement D: acquire E: complete

A: decrease D: acquire E: complete

Cascading goals is the process of ______. A: ensuring that strategic goals at the top align with the short-term goals set at lower levels in the organization B: implementing the management by objectives program organization-wide C: gaining strong top and middle management commitment to the goal setting process D: motivating employees by properly appraising goal-directed performance

A: ensuring that strategic goals at the top align with the short-term goals set at lower levels in the organization

You can use the continuous feedback loop known as the ______ cycle to ensure you're headed in the right direction once you've made plans. A: planning/control goal-setting SMART compare/contrast

A: planning/control

An organization has a sustainable competitive advantage when, for an extended period of time, it can ______. A: produce goods and services more effectively than its competitors do B: block out peripheral vision and reduce creative thinking C: set itself on a predetermined course in unknown waters D: unleash the spirit of strategy innovation

A: produce goods and services more effectively than its competitors do

Managers and subordinates meeting to appraise performance, discuss results, and allocate rewards is the ______ step in management by objectives. Multiple choice question. second fourth first third

B: Fourth

In business, a specific commitment to achieve a measurable result within a stated period of time is called a ______. plan goal strategy tactic

B: Goal

Strategic ______ is a process that involves managers from all levels of the organization in the formulation and the implementation of strategies and strategic goals. A: analysis B: management C: governance D: evaluation

B: Management

Short-term (tactical) goals are connected to long-term (strategic) goals in a hierarchy called the _______. operational plan means-end chain tactical link objective commitment

B: Means-end chain

Who is responsible for tactical planning? A: Top management B: Middle management C: First-line management

B: Middle management

A company's _____ is the purpose of the organization. A: plan B: mission C: vision D: strategy

B: Mission

First-line managers are typically responsible for performing ______ planning within the organization. strategic operational long-term tactical

B: Operational

The letter S in the acronym SMART goal stands for what aspect of a good goal? specialized specific standard statistical

B: Specific

A(n) ______ provides a guide for a company's long-term goals. vision statement strategic plan operations plan mission statement

B: Strategic plan

What behavior would a proactive learner most likely exhibit? A: Avoiding personal conversations B: Taking initiative C: Waiting patiently for the outcome of a situation D: Over-promising

B: Taking initiative

What is the second step in management by objectives? The manager and employee periodically review the employee's performance. The employee develops an action plan. The manager makes a performance appraisal and rewards the employee according to the results. The manager and employee jointly set objectives for the employee.

B: The employee develops an action plan.

The manager and employee periodically reviewing the employee's performance represents the ______ step in management by objectives. first third second fourth

B: Third

Strategic planning is done by ______ managers. A: middle B: top C: operations D: first-line

B: Top

Select all that apply Which of the following are career readiness competencies? (Choose every correct answer.) A: Being opinionated B: Understanding a business C: Networking D: Being reactive instead of proactive

B: Understanding a business C: Networking

A company's ______ statement should provide a clear sense of the future and the actions needed to get there. A: mission B: vision C: values D: operational

B: Vision

In terms of SMART goals, an "attainable" goal is ______. one that meets cost guidelines B: challenging but achievable impossible to meet easily achieved by employees

B: challenging but achievable

A means-end chain is used in planning to show ______. the measurable result of a decision how goals are connected across an organization how product will be delivered to the end consumer the level of competition within an industry

B: how goals are connected across an organization

The "measurable" aspect of a SMART goal refers to its ability to be ______. achieved quantified attained specific

B: quantified

An organization's vision represents ______. A: what the organization cares most about B: where the organization wants to go C: the values the organization wants to emphasize D: the organization's purpose

B: where the organization wants to go

To be an effective planner, you should be a(n) ____________ learner in areas beyond the technicalities of your profession.

Blank 1: proactive

A document that outlines a proposed firm's goals, its strategy for achieving those goals, and the standards for measuring success is known as a _______. A: vision statement B: mission statement C: business plan D: SMART goal

C: Business Plan

What is the first step in management by objectives? Managers and employees periodically review the employee's performance. Managers make a performance appraisal and reward the employee according to the results. C: Managers and employees jointly set objectives for the employee. Employees propose action plans.

C: Managers and employees jointly set objectives for the employee.

The purpose of management by objectives (MBO) is to ______ subordinates. organize scrutinize motivate control

C: Motivate

Management by ______ is a four-step process in which managers and employees jointly set objectives, develop action plans, review performance, and appraise and reward employees. goals mission objectives means

C: Objectives

It is the function of the ______ to take the strategic plan and develop actionable short-term goals that a business can achieve. Multiple choice question. mission statement tactical plan operating plan vision statement

C: Operating plan

First-line managers are typically responsible for performing ______ planning within the organization. strategic tactical operational long-term

C: Operational

______ planning is used to determine how to accomplish specific tasks with available resources within the next 1 -- 52 weeks. Tactical Long-range Operational Strategic

C: Operational

The purpose of ______ is to set goals and decide on the courses of action that will be used to achieve them. A: leading B: organizing C: planning D: controlling

C: Planning

Organizations use ______ planning to determine what contributions the departments or work units can make toward the organization's strategic priorities and policies during the next 6 -- 24 months. A: strategic B: operational C: tactical D: mission

C: Tactical

The fourth and final step in management by objectives involves ______. A: the employee developing an action plan B: the manager and employee periodically reviewing the employee's performance C: the manager making a performance appraisal and rewarding the employee according to the results D: the manager and employee jointly setting objectives for the employee

C: the manager making a performance appraisal and rewarding the employee according to the results

Strategic planning can help encourage new ideas by stressing the importance of ______ in achieving long-range success. A: blinders B: competition C: rigidity D: innovation

D: Innovation

In the strategic management process, the organization's strategies and strategic goals are formulated and implemented using ______. A: A few key organizational players B: Top-level executives only C: Mostly first-line managers D: Managers from all parts of the organization

D: Managers from all parts of the organization

A(n) ______ learning orientation represents the desire to learn and improve one's knowledge, soft-skills, and other characteristics in pursuit of personal development. Multiple choice question. reactive perceptive objective proactive

D: Proactive

When stating a goal, it is a good idea to start with the word "To" and follow with an action-oriented verb such as "increase" or "acquire." This describes the ______ aspect of SMART goals. attainable specific time-oriented results-oriented

D: Results- oriented

Employees preparing action plans represents the ______ step in management by objectives. first third fourth second

D: Second

A(n) ______ provides a guide for a company's long-term goals. vision statement mission statement operations plan strategic plan

D: Strategic Plan

According to management scholar Gary Hamel, companies like Apple have succeeded because their spirit of _____ has allowed them to reinvent the basis of competition within an existing industry. A: sustainable advantage B: common ground C: operational planning D: strategy innovation

D: Strategy Innovation

A business plan is a document that outlines ______. A: the need the firm will fill, the operations of the business, and its expected revenues and expenses B: the organization's long-term goals and direction C: a firm's resources or capabilities along with their competitive strategic potential D: a proposed firm's goals, strategy for achieving them, and standards for measuring success

D: a proposed firm's goals, strategy for achieving them, and standards for measuring success

Short-term (tactical) goals are connected to long-term (strategic) goals in a hierarchy called the _______. Multiple choice question. tactical link operational plan objective commitment D: means-end chain

D: means-end chain

The document that details how a company's goals are to be met is called a(n) ______. A: mission B: investment C: vision D: plan

D: plan

True or false: One reason a company might create a bad strategic plan is because they make incorrect assumptions about what will happen in the market going forward. True false question. True False

TRUE

A company's strategy can best be described as a(n) ______ about what long-term goals or direction to pursue for the survival or prosperity of the organization. A: shot in the dark B: after thought C: educated guess D: placeholder

c: Educated guess