Mgt 3100 Ch 5

a smart goal
specific, measurable, achievable, relevant, time-bound
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?
controlling the direction of the planning/ control cycle
The purpose of MBO is to ____.
motivate subordinates
The process for motivating employee performance in which the manager and employee jointly set objectives for the employee, the manager develops action plans, the manager and employee periodically review the employee’s performance, and the manager makes a performance appraisal and rewards the employee according to results is known as ____.
MBO Management by Objectives
At the strategic level of planning, managers must pay attention to the environment outside the organization, be future oriented, and ____.
deal with uncertain and competitive conditions
A company’s mission and vision is the foundation of an organization’s planning and strategic management.
With the first step in management by objectives, it is necessary to have back-and-forth negotiation between managers and their subordinates to make the objectives practicable.
A business model is a type of business plan.
Strategic management involves all managers within the organization.
The planning process begins with two attributes: a mission statement, which answers the question _____, and a vision statement, which answers the question ______
What is our reason for being; what do we want to become
With SMART goals only a few goals should be chosen, and they should be results-oriented, that ____.
support the organizations vision
During a management meeting, Dave, the CEO of Top Office Equipment, reminded his management team of where the company wants to go as an organization: “Top Office Equipment is the expert whom customers should always call regarding all their office equipment needs because Top Office strives to understand customer needs and provide the right answers for them.” This statement is Top Office Equipment’s ____.
vision statement
Research suggests that when writing out and achieving a person’s biggest goals, it is important to ____
make a concrete plan and break goals into manageable bites
Because of frequently changing competition and technology, a company’s strategic planning may have to be done _____.
closer to every 1 or 2 years
To ensure that plans are moving in the right direction, managers can use the ______
planning/control cycle
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. The CEO has expressed her concern over the economy and has told her managers to look closely at the environment outside the organization before making decisions and to be future oriented. In this meeting, top managers of Synergy are _____
doing strategic planning
When the CEO of Tasty Coffee and Bakery dictated that all company districts needed to increase their profitability, district managers across the country focused on improving customer service ratings in their stores by offering customer service training. This goal by the district managers of customer service ratings is an example of a tactical goal.
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 is ____.
tactical planning
Corporate has decided that each of the store managers needs to develop clear goals for next year on how to increase revenue, cash flow, and market share. Geoff, like the other store managers, is also required to develop a specific plan of action on how he plans to accomplish these objectives in his local market. This is an example of an operating plan.
false – needs action plan such as marketing plan or sales plan.
Steve, a hotel general manager, has had great success using MBO. Hannah, his district manager, has found that his employees are highly motivated, and she believes that this is the case because in using MBO, Steve ____.
rewards his employees with compliments, raises, and other benefits as they meet their goals.
For MBO to be successful, top management must be committed, it must be applied organizationwide, and _____
objectives must be cascading
Operational planning must be completed by first-line managers every ____, and tactical planning is done by middle management every ____.
1 to 52 weeks ; 6 to 24 months
The primary reason for an organization to adopt planning and strategic management is to _____
develop a sustainable competitive advantage
According to Richard Branson, founder of Virgin Atlantic airlines, you can set a really hard goal, such as increasing your class study time 50%, which is “stretching yourself beyond what your mind might think is safe,” also known as a(n) ____
stretch goal
Alison, the vice president of marketing for a global company, is planning what contributions she and her department will make to the organization over the next 24 months. This type of planning is
Tactical planning : 6 – 24 months : middle managers
Strategic planning determines goals for an organization for a period of
1-2 years
In a late October marketing meeting, Theresa, the branch manager, told her marketing manager, Sal, that she needed two things by the end of the year from him: “First I want your goals for next year, and then I need your action plan to reach your goals, your ____.
marketing plan
set by and for top management and focus on objectives for the organization as a whole.
strategic goals
With MBO, research shows people are impelled to set more difficult goals—if _____
there is a joint participation by management and subordinates
The management of Quality Carpet Cleaning finalized the company’s action plan for increasing its market share over the next few years. The management then set up a 12-month plan that defines how the organization will conduct its business based on the action plan, including clear sales targets for each week. The second plan is an example of a(n) _____ plan.
A single-use plan encompassing a variety of projects or activities is an example of a(n) __
Andre, the plant manager, is interested in increasing the facility’s productivity by utilizing MBO so that his managers and their employees are more focused on objectives. This month Andre asked his managers to concentrate on the two first steps of MBO, which are ____
to jointly set objectives and have managers develop action plans
Writing employee schedules and a list of things to do for the cook is a type of ___
operational planning
Planning/control cycle
control the direction by comparing results with the plan and control the direction by taking corrective action in two ways, namely by correcting deviations in the plan being carried out or by improving future plans
The upper-level managers of Deluxe Coffee are meeting to discuss the long-range goals and vision of the company. Like any organization, an organization should adopt planning and strategic management for three reasons
hey can (1) provide direction and momentum, (2) encourage new ideas, and (3) develop a sustainable competitive advantage.
a standing plan that designates specific required action.
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) ____
strategic goal
3 types of MBO
Improvement objectiveness, personal development objectiveness, and maintenance objectives
One Fortune article reads that “vision should describe what’s happening to the world you compete in and what you want to do about it” and “it should ___
guide success
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