M103-3-A

An organization’s _____ is a statement of its fundamental, unique purpose that sets a business apart from other firms of its type and identifies the scope of the business’s operations in product and market terms.

Choose at least one correct answer

1.     Answer 1

mission

2.     Answer 2

statement of qualification

3.     Answer 3

article of incorporation

4.     Answer 4

operational goal

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Which of the following statements is true about strategic goals?

Choose at least one correct answer

1.     Answer 1

They are set by an organization's middle managers.

2.     Answer 2

They are set by first-line managers.

3.     Answer 3

They provide plans for the day-to-day operations of an organization.

4.     Answer 4

They focus on broad and general issues.

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Strategic goals are set by

Choose at least one correct answer

1.     Answer 1

first-line managers.

2.     Answer 2

middle managers.

3.     Answer 3

top managers.

4.     Answer 4

stockholders.

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Goals set for and by line-managers are called _____ goals.

Choose at least one correct answer

1.     Answer 1

strategic

2.     Answer 2

tactical

3.     Answer 3

developmental

4.     Answer 4

operational

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Which of the following statements is true about tactical goals?

Choose at least one correct answer

1.     Answer 1

Their focus is on how to operationalize actions necessary to achieve strategic goals.

2.     Answer 2

Their focus is on broad and long-term issues such as increasing the profitability of the organization over a period of time.

3.     Answer 3

They are set for and by top managers.

4.     Answer 4

They are set for and by the board of directors.

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A(n) ____ goal for a waste management plant could be to "identify barriers to recycling as well as means to overcome those barriers; determine recycling rates by neighborhood and find correlations, if any, between barriers and neighborhoods." It would develop naturally out of a strategic goal "to increase recycling by 10% everywhere."

Choose at least one correct answer

1.     Answer 1

strategic

2.     Answer 2

departmental

3.     Answer 3

functional

4.     Answer 4

tactical

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A(n) _____ plan is a general plan outlining decisions about resource allocation, priorities, and action steps necessary to reach the goals set by the top managers.

Choose at least one correct answer

1.     Answer 1

recovery

2.     Answer 2

contingency

3.     Answer 3

operational

4.     Answer 4

strategic

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Strategic plans

Choose at least one correct answer

1.     Answer 1

focus on how to operationalize actions necessary to achieve goals.

2.     Answer 2

are concerned more with actually getting things done than with deciding what to do.

3.     Answer 3

have a short-term focus and are relatively narrow in scope, dealing with a fairly small set of activities.

4.     Answer 4

generally have an extended time horizon, and address questions of scope, resource deployment, competitive advantage, and synergy.

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A difference between tactical and strategic plans is that

Choose at least one correct answer

1.     Answer 1

tactical plans have a more concrete focus.

2.     Answer 2

tactical plans are set for and by the board of directors.

3.     Answer 3

tactical plans have broader time horizons.

4.     Answer 4

strategic plans are developed by first-line managers.

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_____ plans have a short-term focus and are relatively narrow in scope.

Choose at least one correct answer

1.     Answer 1

Corporate

2.     Answer 2

Tactical

3.     Answer 3

Operational

4.     Answer 4

Contingency

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