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Exam 4: Planning and Strategic Management

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Question 71

True/False

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Situational analysis, as part of the formal planning process, focuses on internal forces at work within the organization and examines influences from the external environment.

A) True
B) False

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Question 72

Multiple Choice

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Which of the following suggestions should Mario make to the board to correct the problem of unavailable upper-level managers?

A) The top team should develop a statement of strategy and priorities that the team is willing to stand behind.
B) Involve the top team in all steps in the change process.
C) Have an honest, fact-based dialogue with lower levels about the new strategy and the barriers to implementing it.
D) Give the educators opportunities to develop their skills and support them with coaching, training, and targeted recruitment.
E) The CEO should create a partnership between the top team and lower levels around the development of a compelling business direction, the creation of an enabling organizational context, and the delegation of authority to clearly accountable individuals and teams.

F) C) and E)
G) A) and E)

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Question 73

Multiple Choice

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Joe is advocating which corporate strategy?

A core competence is something a company does especially well relative to its competitors.

Strategic goals are

Sugarless Specialties manufactures a variety of sugar-free desserts and is widely known in the western United States. Sugarless plans to acquire Rocky Tops, a small firm that makes sugar-free hard candies. Because of concerns about obesity in the United States, the market for sugar-free hard candies is increasing at a growing rate. Rocky Tops is not well known now, though it makes a great product. Rocky Tops is most likely a __________ according to the BCG matrix.

Ideally, strategic management should be an ongoing activity in which all managers are encouraged to focus on long-term, externally oriented issues as well as tactical and operational issues.

Contingency plans are most commonly used in a stable external environment.

The level of planning involving the fewest details is

Traditionally, strategic planning has emphasized a _________________ approach.

A clear and concise expression of what an organization does, whom it does it for, its basic good or service, and its values is known as its

The planning model is often hierarchical, with top-level strategies flowing down through the levels of the organization into more specific goals and plans.

Operational planning identifies the specific procedures and processes required at lower levels of the organization.

Discuss the four basic corporate strategy alternatives. Under what circumstances are each of the strategies utilized?

A corporate strategy is defined as the major actions by which a business competes in a particular industry or market.

If a business gains market share while the industry market growth remains high, it would move from being classified as a __________ to a __________ according to the BCG matrix.

A corporate strategy identifies the type of relationship with regulatory and other government agencies that would create or maintain a profitable foundation for the firm.

Recently a fast-food restaurant chain that specializes in chicken added burgers to its menu. Here the restaurant would be following which type of corporate strategy?

Which of the following is a characteristic of an effective goal?

Doris is advocating which corporate strategy?