Test #2 Study Guide

Test #2 Study Guide - Test on Chapters 4 Strategic Planning...

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Test on Chapters: 4 - Strategic Planning, 5 - Entrepreneurship, 6 - Organizing for Action True / False Questions 1. The basic planning cycle goes in one dimension - into the future. True False 3. Goals should be linked to a time frame and should be measurable. True False 5. When doing scenario planning, a different contingency plan is attached to each scenario. True False 7. Making decisions about the organization's short-term goals and tactics is called strategic planning. True False 9. Traditionally, strategic planning has emphasized a bottom-up approach. True False 11. To be effective, the organization's strategic plans should focus on different and more important goals than those of its tactical and operational plans. True False 13. An organization's mission statement is long-term oriented while a strategic vision is short-term oriented. True False 15. Stakeholders are groups and individuals who have a financial stake in the company. True False 18. One critical task in environmental analysis is forecasting future trends. True False 20. Resources are a source of competitive advantage only when they are valuable, rare, difficult to imitate and organized. True False 22. A concentration strategy involves expanding the domain of the organization into supply channels and to distributors. True False 23. The Boston Consulting Group Matrix is used to help managers of businesses evaluate their strategic alternatives related to their portfolios. True False 25. Functional strategies are implemented at the top levels of management. True False 26. A strategic control system must simultaneously pursue both efficiency and flexibility. True False 27. Managers typically face novel and unstructured problems, which is one reason decision makers are sometimes uncertain about how to proceed. True False 30. Generating alternative solutions is the first stage in decision making. True False 32. Those who implement a decision must understand the choice and must be committed to it. True False 33. Evaluation of the decision, the final stage of the decision process, is only useful if the feedback is negative. True False 36. In decision making, it is always better to use a group than an individual. True False 37. Some experts advise that in today's complex business environment, significant problems should always be tackled by groups. True False
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Test on Chapters: 4 - Strategic Planning, 5 - Entrepreneurship, 6 - Organizing for Action 42. The outcome of situational analysis is A. the identification of alternative plans of action. B. the identification of contingency plans to be followed under various scenarios. C. the identification of planning assumptions, issues and problems. D. the identification of the consequences of those alternatives under consideration. E. None of the above
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This note was uploaded on 02/28/2011 for the course MGMT 2021 taught by Professor Parah during the Spring '11 term at Edison State College.

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Test #2 Study Guide - Test on Chapters 4 Strategic Planning...

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