Chapter 05 - Planning

Which management function involves defining goals, establishing strategies, and developing plans to coordinate work activities?

• Organizing

• Leading

• Planning

• Controlling

Goals that focus on financial performance are classified as:

• Strategic goals

• Financial goals

• Real goals

• Stated goals

What is the term for a unified, comprehensive, and integrated plan designed to achieve the basic objectives of an enterprise?

• Mission

• Strategy

• Goal

• Vision

In traditional goal-setting, who sets the initial goals?

• Employees

• Middle managers

• Top managers

• Stakeholders

What concept describes an integrated network of goals where achieving one goal serves as a means to achieve another?

• MBO

• Means-ends chain

• Strategic management

• Functional strategy

What is a key element of Management by Objectives (MBO)?

• Random goal setting

• Participative decision-making

• Setting indefinite goals

• Relying solely on individual efforts

Which of the following is NOT an advantage of MBO?

• Encourages active participation

• Links rewards to goal attainment

• Prioritizes continuous improvement

• Sets specific and challenging goals

What type of organizational strategy involves maintaining the status quo?

• Growth strategy

• Stability strategy

• Renewal strategy

• Competitive strategy

Which of the following is an example of a corporate strategy?

• Differentiation strategy

• Cost leadership strategy

• Growth strategy

• Functional strategy

The analysis of opportunities and threats is part of which step in strategic planning?

• Internal analysis

• Formulating strategies

• External analysis

• Mission development