Essentials of Planning Study Guide

1926 Words8 Pages
MULTIPLE CHOICE 1. Planning is a. a complex and comprehensive process involving interrelated stages. b. organizing, implementing, and controlling. c. finding the best person for a job. d. communicating effectively with stakeholders. 2. Strategic plans are designed to a. implement operational plans. b. establish day-by-day procedures. c. shape the destiny of the firm. d. carrying out the functions of management. 3. The purpose of tactical planning is to a. establish a general purpose for the organization. b. translate strategic plans into specific goals and plans for organizational units. c. tell entry level workers what to do on a daily basis. d. compensate for past mistakes. 4. Branch manager Hector
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high speed. b. cost leadership. c. product differentiation. d. a strategic alliance. 19. Suppose that Starbucks opens a nation-wide chain of carwashes, called Starbucks Car Wash. After two years, the executive team sells of the car washes, and invests the cash back into building more Starbucks stores. The strategy illustrated is referred to as a. high speed. b. sticking to core competencies. c. product diversification. d. a strategic alliance. 20. A functional strategy for becoming and remaining a successful organization is to a. form a strategic alliance. b. find and retain competent people. c. get to market faster than others. d. export products. 21. Assume that Motorola developed a cell and camera phone so small it comes with a strap to wear on the wrist like a watch. Which strategy does this product launch most likely fit? a. cost leadership b. product differentiation c. focus d. high speed 22. Save-A-Lot has become one of the most successful grocery chains by serving the poor and offering low prices. This is an example of a. focus strategy. b. premium pricing. c. product differentiation d. cost leadership 23. Policies serve as guidelines to action a. that still allow for some interpretation. b. that must be followed quite strictly. c. for workers below the top-management level. d. mostly in the areas of finance and human resources. 24. Management by objectives (MBO)
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