MGT 1013 CHAPTER 3

Planning reduces uncertainty by anticipating change.

• True

• False

Strategic plans are generally short-term and flexible.

• True

• False

Planning helps managers establish coordinated effort by aligning goals across departments.

• True

• False

In informal planning, specific goals are written down and made available to organization members.

• True

• False

Formal planning is mostly used in smaller businesses.

• True

• False

Directional plans provide flexibility and set general guidelines.

• True

• False

Operational plans are typically designed for longer time frames.

• True

• False

A company using horizontal integration is combining with competitors.

• True

• False

Strategic management involves only the development of strategies, not their implementation.

• True

• False

An organization's core competencies are its major value-creating capabilities.

• True

• False