Management: MCQ and Essay Questions

1805 Words Apr 10th, 2013 8 Pages
Planning is concerned with how objectives are to be accomplished, not what is to be accomplished.
1. A major argument against formal plans is that they can’t replace intuition and creativity.
2. Directional plans have clearly defined objectives.
3. In MBO, or management by objectives, goals are often less well-defined, giving managers and employees more flexibility to respond to changing conditions.

4. SWOT analysis includes an analysis of an organization’s environmental opportunities and threats.

5. One method of implementing a growth strategy is to develop new products.
6. A retrenchment strategy is used when an organization reduces its size or sells off less profitable
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a. gain of a shorter planning period by specific plans b. gain of a longer planning provided by specific plans c. loss of clarity provided by specific plans d. loss of a shorter planning period by specific plans
20. Management by objectives (MBO) is a management system in which the first steps are setting specific performance goals that are _____________. a. established that can be easily accomplished b. jointly determined by employees and their managers c. determined by top management with clarity so that the objectives are clear to even the most incompetent employee d. developed in such a manner that the employees are self-directed and do not need supervision
21. The first __________ steps of the strategic management process involve planning that precedes the implementation of strategies. a. four b. five c. six d. seven
22. What is the purpose of an organization called? a. the organization’s action plan b. the organization’s mission c. the organization’s vision d. the organization’s contingency plan

23. Competitive intelligence allows managers to _______________. a. react to competitor actions b. cut cost below the competition c. increase market diversification d. anticipate competitor actions
24. ___________ and ___________ are outcomes from a study of the external environment. a. Threats; weaknesses b. Strengths; weaknesses
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