MGT exam 3 – Flashcards
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Plan
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A blueprint specifying resource allocations schedules, and other actions necessary for attaining goals is referred to as an
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Mission, tactical, operational
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The ______ is the basis for the strategic level of goals and plans which in turn shapes the ____ and ____ level
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Top management
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is primarily responsible for strategic goals/plans
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Lower management
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is primarily responsible for operational goals/plans
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Middle management
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Which of these are concerned with tactical goals/plans?
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Operational goals
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Sherry is a first-line supervisor at Rooftop Corporation. She is most concerned with which level of goals?
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Mission statement
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Which of the following symbolizes the legitimacy of the organization to external audiences?
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a guide to action
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Roxanne is a manager at Geronimo gaming. She recently attended a seminar on goal setting. She wishes to use goals to provide a sense of direction to her staff. She is using goals as ...
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Strategy map
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Which of the following is a visual representation of the key drivers of an organizations success showing the cause-and-effect relationships among goals and plans?
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Operational goals
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Managers use _____ to direct employees and resources toward achieving specific outcomes that enable the organization to perform efficiently and effectively
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Setting goals
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is the first step in the MBO process
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Management by objectives
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Which of these is a method of management whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance?
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Reviewing process
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High fence corporation is currently implementing an MBO program. Managers and employees jointly set objectives and develop action plans, and goal achievement is evaluated on an annual basis. High fence is missing which major activity that must occur in order for MBO to be successful?
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Jointly by the supervisor and the employee
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In using MBO, objectives should be set
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to develop new objectives based on the review of last year's performance
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Frostburg Fireplaces has used MBO for the past year. Top management just finished evaluating overall performance. The next step in the MBO process should be
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Appraise overall performance
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______ is the final step in the MBO process.
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Operational goals are able to displace strategic goals
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Which of the following is not one of the benefits of MBO?
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Core competence
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Which of the following is a business activity that an organization does especially well relative to its competition?
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Synergy
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The condition that exists when the organizations parts interact to produce a joint effect that is greater than the sum of parts acting alone is known as
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Synergy
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When properly managed, _________ can create additional value with existing resources, providing a big boost to the bottom line.
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Corporate-level strategy
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When AT decided to buy media one, a cable company, it was pursuing a
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Corporate-level strategy
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When Philip Morris , the tobacco giant, bought Kraft, INC. it was pursing a
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Corporate-level strategy
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Sears' decision to sell off much of its financial services division is an example of a
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Business-level strategy
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When coca-cola introduced Surge, a new citrus soft-drink, what type of strategy was being pursued?
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How do we support our chosen strategy?
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Which of these questions is ventral to a functional-level strategy?
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Strategy formulations
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Which of the following refers to the planning and decision making that lead to the establishment of the organizations goals and of a specific strategic plan?
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An external threat
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Flush away, inc is particularly concerned about pending legislation in congress that would further regulate their organization. This legislation would be classified as
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A new legislation that opens the international markets
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Which of the following is not a strength of the social network company, Facebook?
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Business growth rate and market share
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The BCG matrix organizes along which of the following dimensions?
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a star
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Double click, inc. has a number of strategic business units. Their hand-held computer unit has a large market share in this rapidly growing industry. Their hand-held computer business would be classified as
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question marks
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Gillette operates numerous strategic business units. Most of its units in the personal care division have low market share but high growth. These units are classified as____
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diversification
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The purpose of ______ is to expand the firms business operations to produce new kinds of valuable products and services.
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Related diversification
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Which of the following strategies refers to moving into a new business that is related to the company's existing business activities
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Differentiation
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Which of the following strategies involve an attempt to distinguish the firm's products or services from others in the industry?
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Differentiation
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Which strategy can be profitable for an organization when customers are loyal and willing to pay high prices
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Overall cost leadership
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The human resource department at paula's powerwheels is implementing a number of functional level strategies. These strategies include focusing on ways to retain and develop a stable work force and ways to improve efficiency in the organization. These functional-level strategies are consistent with which of the following strategies?
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Clear roles and accountability
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People need to understand how their individual actions can contribute to achieving an organizational strategy. This can be accomplished by delegating authority , creating teams, and defining roles. These actions are part of which tool for putting strategy into action?
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Globalization strategy
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If ABC international has standardization its product line throughout the world it is pursuing a
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Multi domestic strategy
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________ refers to the modification of product design and advertising strategies to suit the specific needs of
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Transnational strategy
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Which of the following refers to a strategy that combines global coordination to attain efficiency with flexibility to meet specific needs in various countries?
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strategic execution
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Some people argue that _____ is the most difficult and most important part of strategic management
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synergy
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Increased employee collaboration between the two units , costs were down and revenues increased within both areas. This is an example of what business phenomenon?
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What business are we in?
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Janessa is the CEO of a privately-held software company. In defining corporate-level strategies, which of the following questions would she most likely be concerned with?
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Functional
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level strategies pertains to the major functional departments within the business unit.
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Strategic business unit
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Gatekeep utilities is a subsidiary of GW Enterprises. Gatekeep has a mission and product line that is unique from GW. Gatekeep's competitors are also very different from those of its parent, and the subsidiary markets to a very different group of customers. As such, Gatekeep can be described as an:
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unrelated diversification
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When an organization expands into a totally new line of business, it is implementing a strategy of:
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Related diversification
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Semway, a regional bank, recently announced that it would soon begin offering financial planning services. This is an example of which of these?
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Decision-making
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Mark, a production manager at Kaylie's Kookware, recently chose to schedule his workers to work overtime. His alternative was to hire more workers. He is now monitoring the consequences of his choice. This is an example of
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A programmed decision
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Bierderlack has a policy that states that more than three absences in a six month period shall result in a suspension. Colleen, the manager, has just decided to suspend one of her shift employees for violating this policy. This is an example of
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nonprogrammed decision
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Two are banks, Bank A and Bank B, decided to merge their operations. This is an example of a
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Certainty
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Which of the following means that all the information the decision-maker needs is fully available
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uncertainty
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Bobby, a product manager, wants to increase the market share of his product. He is unsure about how to go about it, not knowing for sure how costs, price, the competition, and the quality of his product will interact to influence market share. Bobby is operating under a condition of
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uncertainty
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When managers know which goals they wish to achieve, but information about alternatives and future events is incomplete, the condition of ______ exists.
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Ambiguity
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Which of the following means that the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable?
