Revision Chapter 3

Which of the following is NOT a function of planning?

• defining goals

• identifying a strategy for attaining goals

• settling disputes between employees

• coordinating organizational activities

Planning is concerned with ________.

• both ends and means

• ends only

• means only

• neither ends nor means

Informal planning is ________.

• always performed at the lowest organizational level

• general and usually lacks continuity

• performed exclusively by middle managers

• more specific than formal planning

Which of the following is NOT a reason for managers to plan?

• to give direction to an organization

• to deal with change

• to establish goals

• to establish responsibility for mistakes

Planning gives organizations a way to deal with change that ________.

• eliminates all uncertainty

• reduces uncertainty

• reduces certainty

• increases ambiguity

The first step in the six-step strategic management process is to ________.

• analyze the organization's strengths and weaknesses

• identify the organization's mission

• identify feasible strategies

• analyze the opportunities the organization has

A mission statement includes identification of an organization's ________.

• strengths and weaknesses

• purpose and basic philosophy

• assets and resources

• resources and strengths

SWOT analysis combines ________.

• a company's mission with its goals

• external and internal analyses

• a company's philosophy with its ethics

• profit with productivity

The three different types of strategies that managers implement are ________.

• corporate, private, functional

• corporate, competitive, functional

• long-term, short-term, public

• competitive, noncompetitive, corporate

Which of the following makes up the three main types of corporate strategies?

• growth, vertical integration, horizontal integration

• growth, retrenchment, renewal

• renewal, retrenchment, diversification

• growth, stability, renewal