1.The managers of Kai’s Catering want to increase the number of events booked by 20%. To accomplish this, a(n) ________ was established to include clear weekly targets for number of deposits received. Multiple Choice means-end chain operating plan strategic plan scenario analysis 2. Prior to Apple’s debut of the iPhone, Microsoft was also working on a revolutionary smart phone. Microsoft was already one of the world’s leading technology companies with thousands of engineers and designers with hundreds of millions of dollars for their R&D budget. Despite having a solid strategy and adequate resources, Microsoft derailed cross-departmental cooperation, perpetuated unhealthy competition among its employees, and ultimately Multiple Choice closed the business due to a labor strike. failed to implement its strategy. developed a competitive advantage in smart phones. fired Bill Gates. 3. You receive a memo that reads as follows: “In recent months, our customer evaluations have dropped, and our sales have decreased by 10 percent. To restore our business, we will do the following: (1) We will contact all of our customers and offer a 10 percent discount on their next purchase. (2) For the customers who spend more than $1,000 per year, we will invite them to join our Insiders’ Club, which gives them discounted tickets to concerts and sporting events. (3) Effective immediately, we will begin staffing our call center 24 hours a day, 7 days a week. (4) Customer-service personnel will be given more discretion in helping customers resolve problems, with minimal interference from supervisors.” This memo is a(n) Multiple Choice action plan. VRIO analysis. mission statement. business model.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

1.The managers of Kai’s Catering want to increase the number of events booked by 20%. To accomplish this, a(n) ________ was established to include clear weekly targets for number of deposits received.

Multiple Choice

means-end chain

operating plan

strategic plan

scenario analysis

2. Prior to Apple’s debut of the iPhone, Microsoft was also working on a revolutionary smart phone. Microsoft was already one of the world’s leading technology companies with thousands of engineers and designers with hundreds of millions of dollars for their R&D budget. Despite having a solid strategy and adequate resources, Microsoft derailed cross-departmental cooperation, perpetuated unhealthy competition among its employees, and ultimately

Multiple Choice

closed the business due to a labor strike.

failed to implement its strategy.

developed a competitive advantage in smart phones.

fired Bill Gates.

3. You receive a memo that reads as follows: “In recent months, our customer evaluations have dropped, and our sales have decreased by 10 percent. To restore our business, we will do the following: (1) We will contact all of our customers and offer a 10 percent discount on their next purchase. (2) For the customers who spend more than $1,000 per year, we will invite them to join our Insiders’ Club, which gives them discounted tickets to concerts and sporting events. (3) Effective immediately, we will begin staffing our call center 24 hours a day, 7 days a week. (4) Customer-service personnel will be given more discretion in helping customers resolve problems, with minimal interference from supervisors.” This memo is a(n)

Multiple Choice

action plan.

VRIO analysis.

mission statement.

business model.

4. Aliya is a line supervisor in a denim apparel factory. Aliya has set a(n) ________ to reduce the time she spends training new workers.

Multiple Choice

operational goal

supervisory objective

vision statement

front-line goal

5. Managers can use an operating plan to

Multiple Choice

describe what an organization wants to become.

segment strategic goals into short-term targets.

show how goals are connected across an organization.

determine the organization’s goals over the next five years.

6. Terin, the chief human resources officer for a major financial services company, has met with each of her employees to set their objectives. Now, Terin expects the employees to

Multiple Choice

set deadlines that emphasize immediate results.

develop action plans.

be less motivated.

adopt new media literacy skills.

7. Cooper has created and carried out a plan for his business. For Cooper, the benefit of enacting the control steps will be

Multiple Choice

retention of employees with strong technical skills.

arranging tasks to be done and clarifying the reporting structure.

evaluation of how competitors will respond to his company’s innovations.

a continuous feedback loop that ensures plans stay headed in the right direction.

8. To prepare for an upcoming interview, Loic has reviewed his résumé, prepared his questions, and thought through answers for the most common interview questions. He feels well prepared. At the interview, Loic is asked to respond to a scenario question in which a problem is presented. If the interviewer prioritizes critical thinking, she is probably trying to determine if Loic

Multiple Choice

can consider alternative solutions and remain open-minded.

demonstrate strategic planning experience.

can make quick decisions.

understands the inner workings of the company.

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