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37.
Debra, a manager of a glassware company, is in the process of deciding what items to add
to next year's line of merchandise. For research purposes, she analyzed the past and
present conditions of the market and also forecasted future trends. Which of the following
steps of the formal planning process has Debra performed?
38.
To be effective, goals should have certain qualities, which can be easily remembered with
the acronym SMART
39.
The actions or means managers intend to use to achieve organizational goals are called
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40.
Isabel is developing contingency plans for her catering business. In other words, she is
developing
41.
Peppy Pizza plans to open five new stores before 2015. However, if the economy does not
improve and if consumer confidence does not rise as hoped, it might open just two stores.
This backup plan is an example of a
42.
Which of the following is true of a contingency plan?
43.
In the _____ stage of the formal planning process, managers should pay careful attention
to the cost of any initiative and the investment return that is likely to result.
44.
The managers at Federated Fabricators believe that several of the product ideas being
considered have the potential of becoming iconic brands that will distinguish Federated
from its competitors—which is one of their high-priority goals. In which of the following
stages of the formal planning processes is Andover involved?
45.
Once alternative goals and plans have been identified, the next step in the formal planning
process is
46.
Which of the following statements is true about goal and plan selection?
47.
The managers of Sizzling Software have decided on their goals for the next two years.
Now they are required to
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48.
Which of the following steps in the formal planning process helps managers know if their
plan is working?
49.
The three levels of planning coordinate with the three levels of
50.
A set of procedures for making decisions about an organization's long-term goals and
strategies is known as
51.
Who is responsible for an organization's strategic plan?
52.
The level of planning that involves the least amount of details is
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53.
Strategic goals are
54.
A(n) _____ is a pattern of actions and resource allocations designed to achieve goals of an
organization.
55.
Glen is in charge of the purchasing department at his company. He needs to translate the
broad strategy of increasing company profits by 5 percent into specific goals and plans
that are relevant to his department. What type of planning must Glen do?
56.
The process of identifying the specific procedures and processes required at lower levels
of an organization is known as
57.
Operational planning is done by _____ managers.
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58.
A method used for aligning an organization's operational and strategic goals is a _____.
59.
A process that involves managers from all parts of an organization in the formulation and
implementation of strategic goals and strategies is called
60.
Which of the following is a component of strategic management?
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61.
A clear and concise expression of what an organization does, whom it does it for, its basic
goods or services, and its values is known as its _____.
62.
Which of the following best describes strategic vision?
63.
Which of the following is true of an effective vision statement?
64.
"To fly what others only imagine" is an example of a _____.
65.
Strategic goals evolve from an organization's
66.
Which of the following does environmental analysis examine?
67.
Which of the following is a major component of an internal analysis?
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68.
_____ are inputs to production that can be accumulated over time to enhance the
performance of a firm.
