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MNGT 3100 Exam 2 Questions And Correct Answers
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which of the following sequences of steps best represents the most appropriate sequence for the planning process? - ANSWER Perceive the environment
Define the organization's mission
Define strategic goals
Develop strategic plans
Define tactical goals
Develop tactical plans
Define operational goals
Develop operational plans
In the planning process, what is the role of strategic goals and plans? - ANSWER Defines company direction
In the planning process, the mission statement sets - ANSWER The overall purpose of the business
The tactical goals and plans link - ANSWER The strategy with the operations
The operational plans and goals guide - ANSWER The daily activities
You've decided to give the department with the most participation in the united way campaign a pizza party. When you ask your supervisor for the funding for the pizza, what do you say to justify your decision? - ANSWER Goals motivate employees
Goals serve 4 purposes for organizations - ANSWER Providing guidance, promoting good planning, motivating employees, and enhancing evaluation and control
What level: we seek to enhance efficiency by the introduction of a new computerised payment system - ANSWER Level 4
What level: we seek to operate a chain of restaurants that prepares high-quality food on a timely basis for a reasonable price - ANSWER Level 1
What level: we seek to expand by opening 150 new restaurant locations in the next 10 years - ANSWER Level 3
What level: we seek to provide a 14% or greater annualized return of investment for our shareholders - ANSWER Level 2
What level of management: we seek to provide a 14% or greater annualized return of investment for our shareholders - ANSWER Top
What level of management: we seek to operate a chain of restaurants that prepares high-quality food on a timely basis for a reasonable price - ANSWER Board of directors
What level of management: we seek to expand by opening restaurants along every major highway in the region - ANSWER Middle
What level of management: we seek to improve efficiency by implementing a new computerized payment system - ANSWER Lower
What level: strategic - ANSWER 1
What level: operational - ANSWER 3
As project leader for the organization's involvement in the annual United Way campaign, you have planned a party to mark the end of the fundraising initiative. What must you do to ensure the party is developed successfully? - ANSWER Add the party to the planning document for the United Way initiative
A program plan is an example of a - ANSWER single-use plan
Policy is an example of a - ANSWER Standing plan
What type of plan: a plan for designing a new computer application - ANSWER Single-use plan
What type of plan: a rule that prohibits the use of company computers for personal communications - ANSWER Standing plan
What type of plan: a schedule for completing the redesign of an organization's gardens and landscape - ANSWER Single-use plan
What type of plan: procedures for responding to customer complaints - ANSWER Standing plan
You are developing a plan for your department to use when replenishing supplies needed to accomplish ongoing activities. What type of plan should you create? - ANSWER Standard Operating Procedure
Enrique wants every member of his team to commit to learning one new skill each quarter. Enrique will thank everyone for their commitment to the team with a quarterly luncheon. Which major barrier to goal setting is most likely to impact whether the members of his team reach this goal? - ANSWER Improper reward system
With the same mindset, Enrique wants to incentivize his team members to achieve the
goal of learning a new skill each quarter. What should Enrique do? - ANSWER Reward those who accomplish the goal
Given what you know about twitter's plans, which one of twitter's objectives listed is a tactical objective? - ANSWER Special #NFL timeline: users can see NFL-related tweets from people in their network, as well as relevant tweets from teams, players, coaches, press, fans and celebrities
Developing/executing: determine human resources - ANSWER Developing
Developing/executing: assess outcomes - ANSWER Executing
Developing/executing: identify resources required - ANSWER Developing
developing/executing: track progress - ANSWER Executing
Developing/executing: comprehend tactical plans - ANSWER Developing
As managers plan an tactic plan implementation, what type of activities does this involve? - ANSWER Assessing course of action
Assigning resources
Assessing outcome
You are the project leader for your organization's participation in the annual United Way campaign. You have arranged a celebration to conclude the fundraising event. What do you need to do to follow through on the party? - ANSWER Ensure the right people receive the appropriate information at the right time
Planning/executing: notify throughout process - ANSWER Executing
You are developing a plan to ensure that employees in your department are dressed appropriately when clients are on-site. What type of plan should you create? - ANSWER Rule
Enrique wants to set a goal for his team to generate 50% more in revenues than it did last quarter. Which major barrier to goal setting is most relevant for him to consider given what you know about this team? - ANSWER Inappropriate goals
To surmount the barrier to success implied by the goal above, what should Enrique do? - ANSWER Communicate why the goal is appropriate
Enrique knows that, in order to measure results, he will need to have documentation. Thus, he intends to require all team members to log their time at work in 15-minute increments. Because this is a new procedure, you want to help Enrique anticipate possible concerns. Which major barrier to goal setting is most relevant for him to consider given what you know about this plan? - ANSWER Resistance to change
To surmount the barrier to success implied by the goal above, what should Enrique do? - ANSWER Understand the purpose of goals
A company's ________________ serves as an organizational plan, outlining how the company will create a competitive advantage - ANSWER Strategy
After a company has analyzed the environments in which it operates and develops a specific plan of action, it becomes time for ____________________________________ - ANSWER Strategy implementation
When conducting a SWOT analysis, information about turnover, profit margins, and staff quality can be used to identify: - ANSWER Company strengths and weaknesses
When referring to a SWOT analysis, the letter T stands for ____________, and it refers to the factors that are _______________ to the organization - ANSWER Threats; external
One of your company's major competitors recently filed for bankruptcy, which has caused many of its customers to look for a new supplier. This presents your company with an - ANSWER Organizational opportunity
Which of the following should be classified as a strength for the team? - ANSWER The starting pitchers of the team are extremely strong and young and can keep the current champions at the top of the league for years to come.
Given all of the factors listed in the preceding question, what course of action would make the most sense for the championship team as it prepares for the upcoming season? - ANSWER Sign a free-agent outfielder to bolster the current roster and sign the younger pitchers to long-term contracts
Business/corporate: pepsico manufactures and distributes huge quantities of products, from pepsi cola to lay's potato chips to cap'n crunch cereal. Last tuesday, pepsico evaluated the sales of near east rice pilaf mix. Considering the rise of sales for imported foods and given how much money that pepsico has available in its coffers, managers decided to keep near east rice pilaf mix on the market and promote it even harder - ANSWER Business-level strategy
Business/corporate: at apple, the managers are asking themselves, "should our next ipad product be innovative and new, so we can charge a higher price for it, or should we go down one more size, so people with less money can buy an ipad?" - ANSWER Business-level strategy
Business/Corporate : a company's managers ask "Does it make sense for our vacuum cleaner Company to buy a company that manufacturers space heaters?" - ANSWER Corporate-level strategy
Business/corporate: Chobani yogurt opened a flagship store in SoHo, where customers can have special creations like fig and walnut, cucumber and olive oil amongst many. Even though it has been in the business of making yoghurt for 7 yrs the firm has never run a restaurant till now - ANSWER Corporate-level strategy
strategy while others are more consistent with overall cost leadership. If UNIQLO decided to target its marketing at individuals between the ages of 16 and 30 it would be pursuing _____________ strategy - ANSWER A focus
In the first 10 months of 2014, spending-per-customer fell at UNIQLO's stores in Japan. As a result, starting in October 2014, top management shifted the focus of the company's marketing. Rather than promoting low prices, the company began touting the high quality of the materials used to restimulate interest in its current lines of clothes, and it continued to look at aggressively expanding the number stores in various countries. Which type of strategy was UNIQLO using? - ANSWER Analyzer
UNIQLO expects demand to be extremely strong for its patent-protected line of clothing, not least because of climate concerns in its key markets. With close to US $20 billion worldwide, what stage of the product life cycle is the company at? - ANSWER Growth
Business/corporate: The managers of a company ask, "Should we make our Bluetooth wireless speaker larger and sell it for more money?" - ANSWER Business
business/corporate Never having been recognized as a computer hardware company, Microsoft enters the tablet manufacturing business and produces the Microsoft Surface.
- ANSWER Corporate-level strategy
Business/corporate: Managers for IBM's SPSS statistics software meet to decide how they will market the product in the coming year. They decide that they will sell SPSS by demonstrating to potential clients how effective SPSS is at analyzing extremely large data sets, and how the "Direct Marketing" part of the program helps identify which customers will respond to advertisements. - ANSWER Business-level strategy
Tesco managers sold their Fresh & Easy U.S. grocery-store chain after comparing the returns from that division with the returns from Tesco's other divisions around the world. The analysis led managers to decide that the market couldn't deliver acceptable returns for the company, which is based in England. - ANSWER Corporate-level strategy
Walmart, Dollar Tree, and 99ยข Only Stores pursue a(n) - ANSWER Overall cost
leadership strategy
A ____________________________ strategy employed by Proctor & Gamble is designed to reduce risk by selling a large number of unrelated products. - ANSWER Portfolio management
Some aspects of UNIQLO's strategy appear to be in line with Porter's differentiation strategy, while others are more aligned with overall cost leadership. UNIQLO sells clothes made with Heattech, a fabric that sucks up moisture and retains heat from the body. The clothing is extremely lightweight, while nevertheless keeping people warm. No other store carries Heattech fabric. Heattech clothes correspond to __________________________ strategy for UNIQLO. - ANSWER A differentiation
Although UNIQLO has traditionally faced an environment in which only moderate innovation is typically possible, its leadership team prefers that the firm be more growth-oriented and take risks. Which strategy should UN IQLO develop? - ANSWER Prospector
Given that UNIQLO is in the growth stage, with demand high and little competition, which of the following would be appropriate activities to include in the company's short-term plan? - ANSWER Research whether supplies will be sufficient to provide necessary inputs to the manufacturing plants
Business/corporate: google managers ask, "which company should we acquire next to access new technologies and customers?" - ANSWER Corporate-level strategy
Business/corporate: cisco managers sat down recently to review the portfolio of their company. They looked at all of the businesses the company has acquired in the last year and determined how much money each acquisition was making for cisco. They then decided which companies to keep and which to spin off - ANSWER Corporate-level strategy
Business/corporate: Last week, top managers for the post-it note product line at 3M gathered to decide how best to manage their product. No matter how 3M positions its other products, the post-it notes will stay in high demand and maintain a premium price.
that one of them appears to change strategies frequently, without anticipating trends in the environment. What type of strategy does this competitor seem to be? - ANSWER Reactor
UNIQLO had very strong demand for its products and it reached the growth stage very quickly. Which of the following is most common during this stage? - ANSWER Managing inventories
If the firm is using Porter's differentiation strategy, what should operations emphasize? - ANSWER That the products customers want are available
If the firm has decided to utilize Miles and Snow's prospector strategy, which of the following actions would most support that strategy? - ANSWER Adopt a flat, decentralized organization design
Since its establishment in 2002, Crocs has manufactured shoes. For women, men, and children and for casual and work settings, it does manufacture shoes, but nothing other than footwear. Crocs is pursuing ____________________________ focus strategy. - ANSWER A single-product
The company was initially a manufacturer and distributor of gourmet candies, and it enjoys global brand recognition in the product. It has acquired several other businesses over the years, some in the food industry and some in different industries, and all have been less successful than hoped. The board of directors has informed you that key shareholders have little appetite for continued business failures. Based on this information, which corporate-level strategy would you lean toward? - ANSWER Single-product strategy
Invest heavily in - ANSWER Star
invest cautiously in - ANSWER question marks
Take profits in - ANSWER cash cows
Sell business in - ANSWER Dogs
High relative market share, low market growth rate - ANSWER Cash cow
High relative market share, high market growth rate - ANSWER Star
Low relative market share, high market growth rate - ANSWER question marks
low relative market share and low market growth rate - ANSWER dogs
You've just successfully led a global diversification strategy for your firm, and you've been invited to give the keynote address to a conference on globalization. Which of the following are advantages of diversifying internationally that you might cite in your address? Check all that apply. - ANSWER - companies may be able to use one facility to serve a larger number of customers
- after gaming entry to a country's market, companies may be able to leverage their presence in the country to expand their product offerings there
- companies may be able to locate their facilities closer to customer of to raw materials
A fast-food company makes significant changes to its menu offerings in the various countries in which it opens restaurants, and caters to different expectations for customer service. This firm would likely pursue a ______________ strategy. - ANSWER Multidomestic
Programmed/Nonprogrammed: Last spring, your spouse surprised you with a puppy (named Loki after the Norse god of mischief). Fortunately, the puppy gets along well with your 17 cats. The decision you make every day about whether to feed Loki is a: - ANSWER Programmed decision
Programmed/Nonprogrammed: Facebook announced in 2020 that it would be releasing a mobile gaming app for live gameplay. The app took several years to develop and was
alternatives as she decides whether or not Gingerforge should begin producing patio furniture. Which of the following would you use to show a proper example to Paula? - ANSWER Paula would make a list of actions Gingerforge might take, such as leaving its product line as it is, adding patio furniture, or deciding to enter some other niche market-such as manufacturing wrought-iron bird cages.
While Paula appreciates the structure that the rational decision-making process brings, you point out to her that it has a number of limitations. Why is the rational decision-making process difficult to apply completely in many situations? Check all that apply. - ANSWER - managers cannot always obtain complete and accurate information
- managers do not always evaluate situations rationally
- managers are limited by their values and unconscious beliefs
After you go over the six steps with Matt, he asks that you provide an example of how to evaluate alternatives as he considers whether VoxSigns should lay off employees. Which of the following would you use as the example you give to Matt? - ANSWER Matt would evaluate each alternative on the basis of the following three dimensions to wit feasibility, satisfactoriness, and consequences; he will like to know whether the firm can do each alternative along with the financial outcome of such options among other consequences for instance reduced employee morale for leftover employees.
While Matt likes the structure provided by the rational decision-making process, you caution him that it has some shortcomings. Why is the rational decision-making process difficult to apply completely in many situations? Check all that apply. - ANSWER - managers may lack the resources to explore creative solutions
- managers do not always evaluate situations logically
Managers are often known to make decisions that are not founded on facts and logic.
After you explain the six steps to Eric, he requests that you provide an example of how to define the decision as he makes a choice about his college major. Which of the following would you use as the correct example for Eric? - ANSWER Eric would clearly state the specific issue being decided: choosing a major so that his schedule will allow the right upper-division classes.
While Eric likes the structure provided by the rational decision-making process, you caution him that it has some shortcomings. Why is the rational decision-making process difficult to apply completely in many situations? Check all that apply. - ANSWER - managers may lack time to consider new and previously untested alternatives
- managers do not always make decisions based on the company's best interest
managers can't always consider all the relevant information available prior to making a decision
Mara and her sorority sisters had agreed it would be entertaining to wear coordinated outfits for this particular event. The sorority sisters got together in the window of a downtown clothier store. Sorority sisters started pulling stuff from the racks and eliciting a range of reactions from passersby. Mara held up a short-sleeve Michael Kors dress that had a scoop neck line with an A-line cut. All the sorority sisters thought it looked good. There were enough in stock and, even better, it was on sale! They decided that each one would purchase the Michael Kors dress. - ANSWER Satisficing
Nolan is the director of the Lycarta Society, an organization dedicated to identifying art forgeries throughout the world. Nolan has been doing his job for almost 20 years, and he is a particular expert in the works of Jackson Pollock, an American painter. Last week, Nolan merely glanced at a painting, and he was able to instantly say it had not been created by Pollock, with virtually no information other than a quick visual scan of the piece. - ANSWER Intuition
Lana is a marketing manager for Prika Software. Prika makes a product called "App Finder," which helps people find the apps they want to have on their cell phones. Last year, Prika sold only 4,000 copies of App Finder at $5.00 each, and projections for this year aren't much higher. This year, Lana wants to invest $75,000 in creating a new home page for the product. The reason being that her company has already spent $100,000 in development. - ANSWER Escalation
Jack wanted to buy the highest-performance Tesla Model S. However, because the car costs over $100,000 and Jack is a student with only a part-time job, principles of ________________ led him to test drive only cars within his realistic price range. - ANSWER Bounded rationality
Businesses commonly rely upon groups to make decisions because of the many advantages to group decision making. Which of the following are advantages of group
goals
-reward tenure within an organization with higher salaries - ANSWER - Reward behaviors supporting goals and punish behaviors that work against goals
A key feature of management by objectives (MBO) is its focus on __________.
-Activities
-Attitudes - ANSWER Results
__________ represent the steps to implement the strategy, leading to accomplishing the organization's mission. They usually apply to the entire organization.
-Objectives
-Goals
-Measures
-Values - ANSWER Goals
The broader principle behind __________ is to make sure that everybody within the organization has a clear understanding of the organization's goals, as well as awareness of their own roles and responsibilities in achieving objectives that will help to attain those goals.
-Corporate social responsibility (CSR)
- management by objectives (MBO)
- entrepreneurship
-diversification - ANSWER management by objectives (MBO)
__________ are specific, timely, measurable activities to aid in the accomplishment of a goal.
-Missions
-Strategies
-Objectives
-Values - ANSWER Objectives
A characteristic of balanced scorecards is that they _______.
-reward employees for some actions, even though the organization hopes they would do other actions
-include both leading and lagging indicators of performance
-ensure that all stakeholders' interests are satisfied by the organization's strategy
-turn all goals and objectives into dollar amounts- ANSWER
include both leading and lagging indicators of performance
The most common performance evaluation error is __________, and managers often realize they are committing this error.
-too lenient
-too honest
-too specific
-give feedback on time - ANSWER -too lenient
Which of the following is not a true statement about performance evaluations?
- Performance appraisals provide a documented record of past performance and may be used years later when considering promotions.
- Performance appraisals aid in the subordinate's understanding of his expectations and what improvements are required of him in the areas where he shows weakness.
- Appraisals enable the managers to feel more honest towards their relationships with subordinates.
