Question 1

The formal planning model emphasizes a ________ approach.

Accepted Answer

A)   bottom-up
B)   top-down
C)   left-right
D)   horizontal
E)   verticalF) A) and B)
G) D) and E)

Question 2

In an organization, the process of planning moves in a linear fashion.

Accepted Answer

A) True 
 B)False

Question 3

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 each other's ideas.
E)   pressure to conformF) All of the above
G) C) and D)

Question 4

A ________ strategy identifies the set of businesses, markets, or industries in which the organization competes and the distribution of resources among those businesses.

Accepted Answer

A)   vertical
B)   differentiation
C)   low-cost
D)   functional
E)   corporateF) C) and D)
G) All of the above

Question 5

In brainstorming,

Accepted Answer

A)   a group is encouraged to say anything that comes to mind, except to criticize other people.
B)   a time pressure is necessary to enhance creativity.
C)   total and consistent agreement among group members can be useful.
D)   innovative ideas must lead to immediate payoffs.
E)   a task-related conflict cannot hurt performance.F) C) and D)
G) A) and E)

Question 6

In the context of the levels of planning, the formal planning model is ________, with top-level strategies flowing down through the levels of the organization into more specific goals and plans.

Accepted Answer

A)   horizontal
B)   hierarchical
C)   tactical
D)   concentrated
E)   uncertainF) B) and E)
G) A) and C)

Question 7

Compare and contrast strategic, tactical, and operational planning.

Accepted Answer

Planning is used by managers at all four...

Question 8

In working with her management team to develop a business plan for her 15-person department for the next fiscal year, Jennifer notes that the corporate strategies for next year include: (1) expand into international markets; (2) broaden scope of services with key clients; and (3) leverage new technologies to increase sales. The corporation employing Jennifer and her team is large, employing over 20,000 staff. How do Jennifer and her management team use the corporate strategies in developing a business plan for their small department?

Accepted Answer

The answer of In working with her management team to...

Question 9

Individuals usually make higher-quality decisions when compared to groups, provided there is enough time.

Accepted Answer

A) True 
 B)False

Question 10

"The dam is on the verge of failing, and the downstream residents are in danger!" cried the on-scene reporter. Tamara Johnson, the power plant manager, replied, "Stay calm. We implemented the emergency protocol over 24 hours ago, and we have evacuated all potentially affected residents." The emergency protocol is an example of a ________ plan.

Accepted Answer

A)   strategic
B)   single-use
C)   standing
D)   contingency
E)   SWOTF) A) and C)
G) D) and E)

Question 11

________ planning involves a process of translating broad strategic goals and plans into specific goals and plans relevant to a particular portion of an organization.

Accepted Answer

A)   Strategic
B)   Operational
C)   Tactical
D)   Contingency
E)   FeasibilityF) A) and E)
G) B) and E)

Question 12

Resources provide competitive advantage only under certain circumstances, including when they are

Accepted Answer

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

Question 13

The corporate strategy of ________ involves expanding the domain of an organization into supply channels and to distributors.

Accepted Answer

A)   concentration
B)   horizontal integration
C)   vertical integration
D)   benchmarking
E)   satisficingF) A) and C)
G) None of the above

Question 14

In managerial decision making, the state that exists when decision makers have insufficient information is known as

Accepted Answer

A)   certainty.
B)   uncertainty.
C)   risk.
D)   probability.
E)   irresolution.F) D) and E)
G) A) and B)

Question 15

Situational analysis, as part of the formal planning process, focuses on

Accepted Answer

A)   the internal forces at work within an organization and examines influences from the external environment.
B)   the external forces at work within an organization and examines influences from the internal environment.
C)   the internal forces at work within an organization and examines influences from the internal environment.
D)   the external forces at work within an organization and examines influences from the external environment.
E)   past conditions, current trends, and future events.F) B) and C)
G) A) and E)

Question 16

In the context of formal decision making, negative feedback indicates that

Accepted Answer

A)   too much time has been dedicated in implementing the decision.
B)   implementation of the decision may need more resources.
C)   the decision has been made under undue pressure from top management.
D)   the problem has been incorrectly diagnosed.
E)   the decision has been unfairly beaten down by competitors.F) A) and B)
G) None of the above

Question 17

As part of a strategic planning process, Midwest Power's senior executives determined positive findings from their SWOT analysis: (1)  New regulations will provide tax credits for renewable ("green")  power sources. (2)  Their customers will pay higher prices for green power. (3)  A competing power utility that owns renewable power sources is struggling and might be a target to be acquired by Midwest Power. (4)  As compared to their competitors, Midwest Power's management team is one of the best in the industry. A strength of Midwest Power, per the SWOT analysis, is that

Accepted Answer

A)   new regulations will provide tax credits for renewable power sources.
B)   their customers will pay higher prices for green power.
C)   a competing power utility is struggling.
D)   the competing power utility might be a target to be acquired.
E)   their management team is one of the most skilled in the industry.F) D) and E)
G) B) and D)

Question 18

Jim Starnes, finance manager, told his boss, "Ben, just like last month, I have determined appropriate revenue recognition for each of the 55 projects this month, based upon company policy and our standard procedures. Each of the projects has routine revenue accrual. I have prepared financial affidavits for each of these 55 projects, and I recommend that you approve the revenues by signing the affidavits." Ben's decision to approve the revenues is an example of a programmed decision because the underlying problem

Accepted Answer

A)   is frequent, repetitive, and routine.
B)   is novel and unstructured.
C)   is trivial.
D)   has a predetermined outcome.
E)   is risk-free.F) All of the above
G) A) and B)

Question 19

Management decisions typically

Accepted Answer

A)   lack structure.
B)   are always free of risks.
C)   are made under conditions of perfect certainty.
D)   are consistent in addressing novel problems.
E)   have the characteristics of programmed decisions.F) A) and D)
G) A) and C)

Question 20

When 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) B) and D)
G) A) and E)

Exam 5: Planning and Decision Making

Correct Answer
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The corporate strategy of ________ involves expanding the domain of an organization into supply channels and to distributors.

Correct Answer
verified

A ________ strategy identifies the set of businesses, markets, or industries in which the organization competes and the distribution of resources among those businesses.

Correct Answer
verified

Correct Answer
verified

In managerial decision making, the state that exists when decision makers have insufficient information is known as

Correct Answer
verified

Correct Answer
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In an organization, the process of planning moves in a linear fashion.

Correct Answer
verified

The formal planning model emphasizes a ________ approach.

Correct Answer
verified

________ planning involves a process of translating broad strategic goals and plans into specific goals and plans relevant to a particular portion of an organization.

Correct Answer
verified

In the context of formal decision making, negative feedback indicates that

Correct Answer
verified

Management decisions typically

Correct Answer
verified

Correct Answer
verified

In the context of the levels of planning, the formal planning model is ________, with top-level strategies flowing down through the levels of the organization into more specific goals and plans.

Correct Answer
verified

In brainstorming,

Correct Answer
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Individuals usually make higher-quality decisions when compared to groups, provided there is enough time.

Correct Answer
verified

Situational analysis, as part of the formal planning process, focuses on

Correct Answer
verified

When generating alternative solutions during the decision-making process, ________ solutions must be designed for specific problems.

Correct Answer
verified

Compare and contrast strategic, tactical, and operational planning.

Correct Answer
verified
Planning is used by managers at all four...
View Answer

Resources provide competitive advantage only under certain circumstances, including when they are

Correct Answer
verified

In brainstorming, group members generate

Correct Answer
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Exam 5: Planning and Decision Making

Correct AnswerverifiedShow Answer

The corporate strategy of ________ involves expanding the domain of an organization into supply channels and to distributors.

Correct AnswerverifiedShow Answer

A ________ strategy identifies the set of businesses, markets, or industries in which the organization competes and the distribution of resources among those businesses.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In managerial decision making, the state that exists when decision makers have insufficient information is known as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In an organization, the process of planning moves in a linear fashion.

Correct AnswerverifiedShow Answer

The formal planning model emphasizes a ________ approach.

Correct AnswerverifiedShow Answer

________ planning involves a process of translating broad strategic goals and plans into specific goals and plans relevant to a particular portion of an organization.

Correct AnswerverifiedShow Answer

In the context of formal decision making, negative feedback indicates that

Correct AnswerverifiedShow Answer

Management decisions typically

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In the context of the levels of planning, the formal planning model is ________, with top-level strategies flowing down through the levels of the organization into more specific goals and plans.

Correct AnswerverifiedShow Answer

In brainstorming,

Correct AnswerverifiedShow Answer

Individuals usually make higher-quality decisions when compared to groups, provided there is enough time.

Correct AnswerverifiedShow Answer

Situational analysis, as part of the formal planning process, focuses on

Correct AnswerverifiedShow Answer

When generating alternative solutions during the decision-making process, ________ solutions must be designed for specific problems.

Correct AnswerverifiedShow Answer

Compare and contrast strategic, tactical, and operational planning.

Correct AnswerverifiedPlanning is used by managers at all four...View AnswerShow Answer

Resources provide competitive advantage only under certain circumstances, including when they are

Correct AnswerverifiedShow Answer

In brainstorming, group members generate

Correct AnswerverifiedShow Answer

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Correct Answer
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Planning is used by managers at all four...
View Answer

Correct Answer
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Correct Answer
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