Mini Test 12 – Flashcards
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_______________ involves objectives and initiatives that will take more than a year to accomplish and, if successful, will create a sustainable competitive advantage?
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b. Strategic planning
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In class, we discussed several trends in organizational structure. One of them, the _____________ is the result of eliminating middle management positions in order to shorten lines of communication within the organization?
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a. Trend toward flatter organizations
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According to your instructor, if you can't live with the consequences of your ___________ scenario, don't implement the plan?
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a. Worst case
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According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies develop a performance oriented ____________?
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a. Culture
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In class, we discussed several trends in organizational structure. One of them, the _____________ reflects the desire to give employees who interact with customers the authority to solve problems without having to consult with a manager?
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e. Trend toward empowering employees
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The three phases of marketing management include?
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b. Developing the marketing plan, implementing the marketing plan, evaluating the results of the marketing plan.
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Which level of the organization is typically responsible for determining the makeup of the organization's portfolio of businesses?
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a. Corporate level
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A major difference between a business plan and a marketing plan is that a Business plan will include ________ while a marketing plan will not?
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c. Strategies for each functional area
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BruceCo is a coffee shop selling custom-brewed coffee to walk-in customers. In order to boost sales, Bruce started a business selling music CD's on the internet. This is an example of the ____________ growth strategy?
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d. Diversification
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In a multi-market, multi-product firm such as the Nestle Corporation, what is the highest level at which strategic planning might take place?
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d. Corporate level
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What is the relationship between the strategic planning that occurs at different levels in an organization?
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c. Lower-level strategic plans must fulfill what is called for in higher-level strategic plans.
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According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies tend to have flat and flexible ____________?
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b. Organizational structures
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A marketing organization that using (the) _____________ can be structured around geographic territories, product groups or customers?
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d. Sales specialization
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When developing contingency plans, the ____________ scenario represents your best estimate of what actually will happen?
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a. Most likely case
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In order to be useful, criteria used to measure progress toward a goal should be all of these EXCEPT?
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b. Adaptable
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Sales data is frequently used as a measure in marketing plans. Which of the following is NOT a commonly used sales measure?
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d. Advertising expenditures
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Which level of the organization is typically responsible for actually creating value for the organization?
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b. Functional area level
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When using a SWOT analysis, a weakness is an issue that is?
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b. Negative, Internal
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One of the reasons there is confusion between the marketing plan and the business plan is that
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c. These are all reasons why there is confusion between the marketing plan and the business plan for an organization?
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When using a SWOT analysis, an opportunity is an issue that is?
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a. Positive External
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The SWOT analysis can be used to develop marketing strategies by ____________?
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d. Building on a strength
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According to the material presented in class, a bottom-up budget?
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d. Is developed by the managers responsible for implementing the plan.
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The three phases of marketing management include?
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b. Developing the marketing plan, implementing the marketing plan, evaluating the results of the marketing plan.
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Sales data is frequently used as a measure in marketing plans. Which of the following is NOT a commonly used sales measure?
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c. Advertising expenditures
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According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies tend to have flat and flexible ____________?
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d. Organizational structures
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An organizational chart is a useful tool for understanding the structure of an organization. Specifically, the connections between the 'boxes' in an organizational chart show patterns of ____________ and ____________ within the organization.
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d. Communication, accountability
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According to your instructor many strategic plans are not implemented well because?
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c. The long-term strategic objectives are not translated into specific, actionable tasks to be done by people in the organization.
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A ___________ is the criteria against which progress toward a goal is measured?
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e. Metric
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BruceCo planned to introduce a new line of herbal coffees in its coffee shops. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of these people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffee, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend. Which of the following would be an outcome measure associated with the plan?
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a. The number of cups of the new blend sold each day.
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When we say a measure is __________ we mean that it relates directly to the goal it is intended to measure?
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e. Relevant
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Which of the following statements about an organization's mission statement is FALSE? Which of the following statements about an organization's mission statement is FALSE?
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a. The mission statement is something that only applies at the corporate level
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Which level of the organization is typically responsible for determining the makeup of the organization's portfolio of businesses?
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a. Corporate level
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When using a SWOT analysis, a strength is an issue that is?
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d. Positive, Internal
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Which of the following is NOT a characteristic of a good Objective?
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d. It is adaptable
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A ______________ is a tool for evaluating an organization's internal and external strengths and weaknesses?
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d. SWOT analysis
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A ______________ is a tool for evaluating an organization's internal and external strengths and weaknesses?
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d. SWOT analysis
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Which level of the organization is typically responsible for setting the direction of products and markets in order to exploit value-creating opportunities?
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b. Business Unit level
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A _____________ is one of a set of specialized interdependent activities performed within an organization?
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e. Functional area
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A ____________ consists of a set of related products and markets?
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e. Business Unit
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Which of the following is NOT a tactical issue that needs to be addressed in the marketing plan?
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b. Marketing Objectives
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The SWOT analysis can be used to develop marketing strategies by ____________?
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a. Minimizing a weakness or a threat
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According to the material presented in class, a process measure?
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d. A process measure is all of these things
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According to your instructor many strategic plans are not implemented well because?
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e. The long-term strategic objectives are not translated into specific, actionable tasks to be done by people in the organization.
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According to a Harvard Business Review article by Nohria, Joyce and Roberson, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies maintain flawless operational ____________?
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a. Execution
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Contrary to what you would expect, from a planning perspective?
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e. It is just as bad to exceed the goal as it is to fail to reach the goal
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BruceCo competes in the premium coffee market in the San Francisco area. The biggest competitor, Starbucks controls 48% of the market while BruceCo controls only 1% of the market. BruceCo is measuring _________?
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e. Market Share
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