Designates a specific required action correct answers Rule
Encompasses a wide range of activities or projects correct answers Program
Outlines a set of responses to particular circumstances correct answers Procedure
Used for activities that are not likely to be repeated again correct answe...
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Designates a specific required action correct answers Rule
Encompasses a wide range of activities or projects correct answers Program
Outlines a set of responses to particular circumstances correct answers Procedure
Used for activities that are not likely to be repeated again correct answers Single-use plan
Has less complexity and scope than a program correct answers Project
Best for activities that occur over and over again correct answers Standing plan
Gives a general idea of how to respond to a designated situation correct answers Policy
The McCloskeys started Fair Oaks with a plan to see how the farm could convert 430,000
gallons of daily manure into a sustainable asset. This is known as
a) tactical planning
b) a mission statement
c) operational planning
d) a vision statement
e) strategic planning correct answers E
The 21-day process used to break down the manure into "compost-like material while releasing
biogas, which is captured in pipes" is part of a(n)
a) operating plan
b) master plan
c) strategic plan
d) common plan
e) action plan correct answers A
Plan that breaks long-term output into short-term targets or goals correct answers operating plan
Based on the case, which of the following has not resulted from the McCloskeys's planning and
strategic management processes?
a) higher employee satisfaction
b) sustainable competitive advantage
c) innovation
d) environmentally-sound practices
e) direction and momentum correct answers A
,The McCloskeys developed an ultra-filtration process for a new milk drink. Based on the case
and VRIO framework, which of the following is surely true?
a) The new product does not build on the McCloskeys's mission statement.
b) The McCloskeys are about equally competitive with competitors.
c) Fair Life LLC is organized to exploit their new capability.
d) The McCloskeys have a sustained competitive advantage.
e) The McCloskeys have at least a temporary competitive advantage. correct answers E
Former-CEO Kalanick's question of "What kind of brand do we want to be?" represents which
stage of the strategic management process?
a) implement the strategy
b) assess the current reality
c) establish the mission and vision and values
d) maintain strategic control
e) formulate the grand strategy and strategic, tactical, and operational plans correct answers C
CEO Khosrowshahi's strategic goal is for Uber to raise funds via an Initial Public Offering (IPO)
in 2019. Which of the following would be an example of an operational goal in support of this?
a) redeveloping the company's mission statement
b) increasing Uber Eats sales by 10 percent in the next six months
c) developing a self-driving car prototype
d) expanding to Indonesia by the end of the year
e) settling a self-driving car trade secrets lawsuit with Waymo correct answers E
Uber's expansion on the innovation front depends on its self-driving cars plan. The
implementation of this plan would be the responsibility of which of the following managers?
a) product-line
b) chief executive officer
c) vice president
d) unit manager
e) team leader correct answers A
The _________ of the plan would involve tactical planning, such as functional, product-line, and
department, which is done by middle managers. correct answers implementation
Based on what you know about the types of plans, self-driving cars would be an example of
which of the following?
a) program
b) policy
c) project
d) procedure
, e) rule correct answers A
Assume Uber planned to cut losses by 40 percent by withdrawing from countries like China and
Singapore. A year has now passed since they have withdrawn, and the company determines that
losses have actually increased. Which step in the planning/control cycle does Uber need to now
execute?
a) make the plan
b) define objectives
c) make the goal
d) carry out the plan
e) control the direction correct answers E
________ is setting goals and deciding how to achieve them
a) Focusing
b) Planning
c) Regulating
d) Organizing
e) Controlling correct answers B
Strategic management is a process in the formulation, implementation, and execution of
strategies and strategic goals to advance the purposes of the organization. T/F correct answers
True
Prior to opening his business, Francois, the owner of The Crepe Factory, is writing a document
that explains the reason for his business. This statement would be a part of his mission statement.
T/F correct answers True
Chelsea, a middle manager for a large clothing chain, received an e-mail from the CEO outlining
the new goal of decreasing company costs over the next three years. This is an example of a
strategic goal. T/F correct answers True
Samantha is the return desk coordinator in a department store, and she has set a goal this month
of finishing her daily office work quicker so she can assist at the Return Desk earlier in the
morning. She knows this will also help decrease theft, which will assist the company in
achieving its goal of decreasing costs. Samantha's goal of finishing her office work quicker is
a(n)
a) operational goal
b) strategic goal
c) operating plan
d) strategic plan
e) tactical plan correct answers A
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