Question 1

The decision regarding the number of employees to be hired for the cafeteria is part of operational planning because

Accepted Answer

A)   it translates broad strategic goals and plans into specific goals and plans relevant to a particular portion of the organization.
B)   it focuses on the major actions a unit must take to fulfill its part of the strategic plan.
C)   it involves a specific procedure that is required at lower levels of the organization.
D)   it involves making decisions about the organization's long-term goals and strategies.
E)   it has a strong external orientation and covers major portions of the organization.F) A) and E)
G) A) and C)

Question 2

The level of planning involving the longest time horizon, usually ranging from three to seven years, is

Accepted Answer

A)   operational planning.
B)   missionary planning.
C)   tactical planning.
D)   departmental planning.
E)   strategic planning.F) B) and C)
G) A) and C)

Question 3

Resources are a source of competitive advantage only when they are

Accepted Answer

A)   archival.
B)   difficult to imitate.
C)   equally available.
D)   sequential.
E)   expensive.F) A) and C)
G) A) and E)

Question 4

Businesses using a ________ strategy try to be efficient and offer a standard, no-frills product.

Accepted Answer

A)   high return
B)   low-cost
C)   high-cost
D)   low return
E)   high profitF) B) and D)
G) A) and E)

Question 5

Akins Corp. had focused only on alcoholic beverages for the last two decades. Now, the company is considering entering the soft drink market. Which of the following corporate strategies will most likely be adopted by the company?

Accepted Answer

A)   vertical integration
B)   related diversification
C)   unrelated diversification
D)   concentration
E)   low-cost strategyF) All of the above
G) C) and D)

Question 6

In the context of resources and core capabilities, the tangible assets of an organization include

Accepted Answer

A)   patents.
B)   real estate.
C)   company reputation.
D)   technical knowledge.
E)   learning and experience.F) B) and D)
G) B) and C)

Question 7

Suzanne states she has experience in making all projects succeed. She even states that she is immune to failure. She is displaying

Accepted Answer

A)   llusion of control.
B)   framing effects.
C)   discounting the future.
D)   bargaining.
E)   benchmarking.F) B) and D)
G) D) and E)

Question 8

In _____ planning, frontline managers usually focus on routine tasks such as production runs, delivery schedules, and human resource requirements.

Accepted Answer

A)   acquisition
B)   feasibility
C)   tactical
D)   operational
E)   strategicF) B) and E)
G) A) and C)

Question 9

An advantage in using a group for decision making is that it

Accepted Answer

A)   leads to a higher level of commitment to the decision.
B)   gives authority to one member in heading the discussion.
C)   results in a phenomenon known as groupthink.
D)   leads to a process of decision making known as satisficing.
E)   results in conservation of precious time, money, and resources.F) D) and E)
G) A) and B)

Question 10

In order to reduce production costs, Seuss Inc., an automobile manufacturer, decided to buy out a glass plant and begin manufacturing the glass for the windows of cars on its own. The corporate strategy adopted by the company is known as

Accepted Answer

A)   concentration.
B)   vertical integration.
C)   related diversification.
D)   unrelated diversification.
E)   differentiation.F) C) and E)
G) D) and E)

Question 11

Which of the following is true of the strategic goals of an organization?

Accepted Answer

A)   Strategic goals translate broad tactical goals and plans into specific goals and plans relevant to a particular portion of the organization.
B)   Strategic goals of an organization should be limited to top management.
C)   Strategic goals include fostering quantity and quality of outputs as well as increasing productivity.
D)   Strategic goals identify the specific procedures and processes required at lower levels of the organization.
E)   Strategic goals focus on the major actions a unit must take to fulfill its part of the strategic plan.F) A) and B)
G) None of the above

Question 12

Decision makers who search for ______ solutions use ideas they have tried before or follow the advice of others who have faced similar problems.

Accepted Answer

A)   ready-made
B)   custom-made
C)   unique
D)   original
E)   rareF) A) and B)
G) A) and E)

Question 13

In an attempt to make a conflict between two employees less personal and emotional, their manager instructs them to approach the same problem from a different viewpoint. They have a structured debate and come to a conclusion that suits both employees. This is an example of using the _____ approach.

Accepted Answer

A)   maximizing
B)   satisficing
C)   brainstorming
D)   dialectic
E)   goal displacementF) All of the above
G) None of the above

Question 14

Illusion of control, discounting the future, and framing effects are examples of

Accepted Answer

A)   social realities.
B)   psychological biases.
C)   strategic planning steps.
D)   ready-made solutions.
E)   time pressures.F) A) and C)
G) All of the above

Question 15

In the context of decision making in groups, the job of a devil's advocate is to create

Accepted Answer

A)   potentially destructive conflict.
B)   the likelihood of constructive conflict.
C)   a structured debate.
D)   a task-related conflict.
E)   process related problems.F) None of the above
G) All of the above

Question 16

In brainstorming, group members generate

Accepted Answer

A)   as many ideas about a problem as they can.
B)   a few ideas about a problem.
C)   only three ideas about a problem.
D)   criticism of others ideas.
E)   pressure to conform.F) B) and E)
G) A) and E)

Question 17

In the context of generating alternative solutions during the decision-making process, _____ solutions must be designed for specific problems.

Accepted Answer

A)   ready-made
B)   approved
C)   open-ended
D)   adjustable
E)   custom-madeF) None of the above
G) C) and E)

Question 18

In the context of the decision-making process in an organization, those who _______ a decision must understand the choice and must be committed to its successful implementation.

Accepted Answer

A)   make
B)   influence
C)   implement
D)   finalize
E)   createF) B) and D)
G) C) and D)

Question 19

Sager Inc., a manufacturing company, developed a strategic plan that assumed improved growth in its industry. Additionally, it generated several _____ for different economic settings. When recession started, Sager Inc. quickly implemented the plan based on those conditions. As a consequence, it survived more easily than other firms in the industry.

Accepted Answer

A)   financial reports
B)   annual reports
C)   roadmaps
D)   projection statements
E)   scenariosF) A) and C)
G) C) and E)

Question 20

Describe the two broad categories of resources and describe each one. Describe how resources can be a source of competitive advantage.

Accepted Answer

Resources can take many forms,...

Exam 5: Planning and Decision Making

Describe the two broad categories of resources and describe each one. Describe how resources can be a source of competitive advantage.

Correct Answer
verified
Resources can take many forms,...
View Answer

In brainstorming, group members generate

Correct Answer
verified

Decision makers who search for ______ solutions use ideas they have tried before or follow the advice of others who have faced similar problems.

Correct Answer
verified

In the context of resources and core capabilities, the tangible assets of an organization include

Correct Answer
verified

In order to reduce production costs, Seuss Inc., an automobile manufacturer, decided to buy out a glass plant and begin manufacturing the glass for the windows of cars on its own. The corporate strategy adopted by the company is known as

Correct Answer
verified

An advantage in using a group for decision making is that it

Correct Answer
verified

Correct Answer
verified

Akins Corp. had focused only on alcoholic beverages for the last two decades. Now, the company is considering entering the soft drink market. Which of the following corporate strategies will most likely be adopted by the company?

Correct Answer
verified

The decision regarding the number of employees to be hired for the cafeteria is part of operational planning because

Correct Answer
verified

The level of planning involving the longest time horizon, usually ranging from three to seven years, is

Correct Answer
verified

Suzanne states she has experience in making all projects succeed. She even states that she is immune to failure. She is displaying

Correct Answer
verified

Businesses using a ________ strategy try to be efficient and offer a standard, no-frills product.

Correct Answer
verified

In the context of decision making in groups, the job of a devil's advocate is to create

Correct Answer
verified

Illusion of control, discounting the future, and framing effects are examples of

Correct Answer
verified

In _____ planning, frontline managers usually focus on routine tasks such as production runs, delivery schedules, and human resource requirements.

Correct Answer
verified

Which of the following is true of the strategic goals of an organization?

Correct Answer
verified

In an attempt to make a conflict between two employees less personal and emotional, their manager instructs them to approach the same problem from a different viewpoint. They have a structured debate and come to a conclusion that suits both employees. This is an example of using the _____ approach.

Correct Answer
verified

In the context of the decision-making process in an organization, those who _______ a decision must understand the choice and must be committed to its successful implementation.

Correct Answer
verified

In the context of generating alternative solutions during the decision-making process, _____ solutions must be designed for specific problems.

Correct Answer
verified

Resources are a source of competitive advantage only when they are

Correct Answer
verified

Exam 5: Planning and Decision Making

Describe the two broad categories of resources and describe each one. Describe how resources can be a source of competitive advantage.

Correct AnswerverifiedResources can take many forms,...View AnswerShow Answer

In brainstorming, group members generate

Correct AnswerverifiedShow Answer

Decision makers who search for ______ solutions use ideas they have tried before or follow the advice of others who have faced similar problems.

Correct AnswerverifiedShow Answer

In the context of resources and core capabilities, the tangible assets of an organization include

Correct AnswerverifiedShow Answer

In order to reduce production costs, Seuss Inc., an automobile manufacturer, decided to buy out a glass plant and begin manufacturing the glass for the windows of cars on its own. The corporate strategy adopted by the company is known as

Correct AnswerverifiedShow Answer

An advantage in using a group for decision making is that it

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Akins Corp. had focused only on alcoholic beverages for the last two decades. Now, the company is considering entering the soft drink market. Which of the following corporate strategies will most likely be adopted by the company?

Correct AnswerverifiedShow Answer

The decision regarding the number of employees to be hired for the cafeteria is part of operational planning because

Correct AnswerverifiedShow Answer

The level of planning involving the longest time horizon, usually ranging from three to seven years, is

Correct AnswerverifiedShow Answer

Suzanne states she has experience in making all projects succeed. She even states that she is immune to failure. She is displaying

Correct AnswerverifiedShow Answer

Businesses using a ________ strategy try to be efficient and offer a standard, no-frills product.

Correct AnswerverifiedShow Answer

In the context of decision making in groups, the job of a devil's advocate is to create

Correct AnswerverifiedShow Answer

Illusion of control, discounting the future, and framing effects are examples of

Correct AnswerverifiedShow Answer

In _____ planning, frontline managers usually focus on routine tasks such as production runs, delivery schedules, and human resource requirements.

Correct AnswerverifiedShow Answer

Which of the following is true of the strategic goals of an organization?

Correct AnswerverifiedShow Answer

In an attempt to make a conflict between two employees less personal and emotional, their manager instructs them to approach the same problem from a different viewpoint. They have a structured debate and come to a conclusion that suits both employees. This is an example of using the _____ approach.

Correct AnswerverifiedShow Answer

In the context of the decision-making process in an organization, those who _______ a decision must understand the choice and must be committed to its successful implementation.

Correct AnswerverifiedShow Answer

In the context of generating alternative solutions during the decision-making process, _____ solutions must be designed for specific problems.

Correct AnswerverifiedShow Answer

Resources are a source of competitive advantage only when they are

Correct AnswerverifiedShow Answer

Correct Answer
verified
Resources can take many forms,...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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