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Management
Connect answers Quiz 5-6
| Term | Definition |
|---|---|
| The planning/control cycle has two planning steps: _____ | make the plan, then carry out the plan |
| Susan is a front-line supervisor in a grocery retailer. She desires to decrease the time she spends working on doing her daily closing work. This objective set by Susan and for her is an example of a(n) _____ | operational goal |
| Research suggests that when writing out and achieving a person's biggest goals, it is important to ____ | make a concrete plan and break goals into manageable bites |
| In a late Oct marketing meeting, Theresa, the branch manager, told her marketing manager, Sal, that she needed two things by the end of the year from him: "First I want your goals for next year, and then I need your action plan to reach your goals, your | marketing plan |
| Andre, the plant manager, is interested in increasing the facility's productivity by utilizing MBO so that his managers are more focused on objectives. This month Andre asked his managers to concentrate on the two first steps of MBO, which are | to jointly set objectives and have managers develop action plans |
| The top mgt of Tasty Foods, has set strategic goals of increasing org. market share. Greg, a manager for T.F. has looked at his resources, and decided how his division can contribute to the two strategic goals. These types of objectives set by Greg are: | tactical goals |
| Brenda, a manager for Beautiful Florist told her stor to set goals .A new manager, Paula, said, "I am going to sell over $100,000 flowers next year." Brenda later told Paula that "I need to know specifically" Brenda's request for a specific answer is: | SMART goal |
| With MBO, research shows people are impelled to set more difficult goals—if _____ | there is joint participation by management and subordinates |
| The upper mgt of a large national retail grocery store has passed along the new goals to the district managers. The district managers need to determine how the stores will achieve top mgt's goal with the given resources during the next 6 to 24 months. | tactical planning (upper) |
| While sitting at her desk, Ann is setting goals and deciding how to achieve them. She is ___ | planning |
| Billy told his boss, Gwen, that he is going to start training for the upcoming marathon to be healthier and to have more energy for work. When Gwen asked him about his running history, Billy said, "I really have never run before and don't exercise much. | SMART goal |
| Because several computers and keyboards in the computer labs have been damaged recently by drinks and food being spilled, the department chair issued a directive that "No food or drink is allowed in any computer lab." This statement is a(n) ______ | rule |
| Says one authority, strategic planning should communicate not only general goals about growth and profits but also _____. | ways to achieve them |
| Clothing maker Patagonia states that its purpose as an organization is to "build the best product, cause no unnecessary harm, [and] use business to inspire and implement solutions to the environmental crisis." This is the company's ___. | mission statement |
| Abe and April are considering starting a family business, so their banker advised them to write a business plan because it helps an entrepreneur ____. | get financing and think through important details, and it better guarantees success |
| When utilizing SMART goals or MBO, deadlines can help you keep your eye on the ______ while simultaneously paying attention to _____. | big picture; the necessary details |
| Alice, the branch manager of Quality Computer Sales, has heard several complaints from customers that Quality employees do not return calls. Hearing enough, Alice mandated that "all customer phone calls must be returned within 24 hours." This is | policy |
| At the strategic level of planning, managers must pay attention to the environment outside the organization, be future oriented, and ____. | deal with uncertain and competitive conditions |
| For MBO to be successful, top management must be committed, it must be applied organization wide, and _____. | objectives must cascade |
| The upper managers of Synergy Technology are meeting to look at the long-term company goals. The CEO has expressed her concern over the economy and has told her managers to look closely at the environment outside the organization before making decisions. | doing strategic planning |
| Rashid, the CEO of Top Productions, was telling his new president of accounting that "In the past I had resistance to new ideas by people who felt that one of our plans threatens their. Selling middle managers on changes to overcome their resistance is: | strategy implementation |
| Tom and his family have developed a successful business selling a liquid spray fertilizer to other farmers in his area. Recently ABC Seed, has been marketing a powdered chemical fertilizer to his customers that is less expensive than Tom's product. | threats of substitute products and services |
| Michael Porter proposed that business-level strategies originate with the primary competitive forces in the firm's environment; these forces are _____. | threats of new entrants and substitute products or services, bargaining power of suppliers and buyers, and competitive rivalries |
| Quality Services is an organization that operates several companies that market food products, restaurant equipment, and paper and plastic products. Quality Services is involved in a _____ strategy | diversification |
| Tom is the CEO of Yost Tech, a large global manufacturing company, and he is having lunch with a longtime friend, Greg. Tom told Greg that. I just read an article about several studies that found that strategic management and planning _____." | benefits both small and large organizations |
| The owners of Smith's Yard Mart, a family-owned garden center in a rural community, is concerned over the news that a large retailer with a garden center is building a new store on the other side of town. This new retailer is a(n) ____ for Smith's. | threat |
| Organic Foods Int. has decided to increase its market share by hiring a marketing rep to visit businesses in the area and invite their employees to shop at Organic Foods. The store also hired two new employees to handle increase in customer traffic. | growth strategy |
| The basic assumption that the picture of the present can be projected into the future is the basis of a ___ | trend analysis |
| The second step in the strategic-management process is to look at where the organization stands and see what is working and what could be different to maximize efficiency and effectiveness in achieving the organization's mission. This step is : | current reality assessment |
| To provide direction and momentum, encourage new ideas, and develop a sustainable competitive advantage are reasons why an organization should adopt _____. | strategic management and strategic planning |
| More important than profit growth, stimulating innovation, customer loyalty, and finding qualified employees, global CEOs desire ____. | excellence in execution |
| Pedro, CEO of a successful IT company, is constantly reading press releases, ads, and news articles about his competition, and he regularly checks information about new competitive products Pedro is involved in ____. | competitive intelligence |
| Delux Technology has a reputation of reliability and winning customer service. As a business conference, Steve, the CEO of Delux, told his audience that "We have built our reputation by changing little over the last years. Delux Technology utilizes: | stability strategy |
| Doug is the CEO of Johnson Motors, a business consisting of Chevrolet, Buick, Cadillac, and Mercedes-Benz dealerships. He also sells Fleetwood and American Coach RVs. Doug mentioned that "there is economic value in having many related businesses." | synergy |
| ABC Technology makes and sells only one product, a high-quality processor for mainframe computers, within its market, Silicon Valley, California; ABC utilizes a _____ strategy. | single-product |
| George, a chef and owner of a popular restaurant, is always visiting his competition to observe how they are doing things in their restaurants. He told one of his managers that "I do this because I want to know what is going on. George is utilizing ___ | competitive intelligence |
| Ben attended a workshop hosted by SCORE, an SBA organization that counsels small-business owners on developing a good vision statement. In that workshop the speakers discussed how an organization's vision needs to describe _____. | what the company wants to become, and its long-term direction and strategic intent |
| Bryan Barry suggests that to keep a strategic plan on track, organizations should ____. | engage people, keep it simple, stay focused, and keep moving |
| Is it appropriate for the organization and for the times? Does it set standards of excellence and reflect high ideals? Is it ambitious? These are all questions that are answered in a good _____. | vision statement |
| A company's overall ability to execute is a function of effectively executing according to three processes, but Bossidy and Charan proposed that the _____ process is the most important. | people |
Created by:
Josefine Hippi