BRAINSCAPE1
MGMT-3013, Exam 2 Exam with
complete solutions latest version
A mission statement expresses what? - CORRECT ANSWER-Why the organization
exists
What does a vision statement express? - CORRECT ANSWER-What the organization
wants to become
Decreasing costs by 15% over three years is an example of what? - CORRECT
ANSWER-An Action plan
if Juan runs a ranch and is partnering with a butcher to start a beef delivery service, how
will Juan know if his company has a sustainable advantage? - CORRECT ANSWER-
Juan will produce and deliver more beef more effectively than competitors
What would excellent customer classify under the SWOT analysis? - CORRECT
ANSWER-A strenth
Cost leadership strategy and differentiation strategy have what in common? -
CORRECT ANSWER-Both focus on wide markets
A company that discontinues product lines or withdraws from certain markets is
pursuing a what type of strategy? - CORRECT ANSWER-Defensive Strategy
Sally runs a chicken sandwich shop and has been brainstorming ways to grow her
business in a competitive market. She has considered giving away free sandwiches,
starting reward programs, and increasing advertising. What stage of decision-making is
this? - CORRECT ANSWER-Thinking up alternative solutions
Michael likes working as an accountant because it has structure, certainty and the daily
work is routine. Michael posses what quality? - CORRECT ANSWER-Has a value
orientation of task and technical concerns
BRAINSCAPE1
, BRAINSCAPE1
The competing values framework lists four types ______ which includes market, clan,
adhocracy, and hierarchy - CORRECT ANSWER-Organizationals cultures
what cultures use collaboration to encourage employees to have a strong sense of
identification with and commitment to the organization? Employee behaviors are
governed by strong norms rather than formal rules and authority figures - CORRECT
ANSWER-Clan cultures
What is planning? - CORRECT ANSWER-Setting goals and deciding how to achieve
them. It is coping with uncertainty by formulating future courses of action to achieve
specificied results?
What is a plan? - CORRECT ANSWER-A plan is a document that outlines how goals
are going to be met
What is a business plan? - CORRECT ANSWER-A document that outlines a proposed
firm's goals, the strategy for achieving them, and the standards for measuring success
What is Strategy? - CORRECT ANSWER-A strategy sets the long-term goals and
direction for an organization. It represents an educated guess about long-term goals or
direction to pursue
What is strategic management? - CORRECT ANSWER-The formulation and the
implementation of strategies and goals. It is a process that involves managers from all
parts of the organization.
What level of strategy concerns top management? - CORRECT ANSWER-Strategic
planning, 1-5 years
What level of strategy concerns middle management? - CORRECT ANSWER-Tactical
planning, 6-24 months
What level of strategy concerns first-line managers and team leaders? - CORRECT
ANSWER-Operational planning, 1-52 weeks
What are the smart goals? - CORRECT ANSWER-1. Specific
2. Measurable
3. Attainable
4. Results-oriented
5. Target-date
What is the S in SMART goals? - CORRECT ANSWER-Specific - Goals should be
stated in specific terms
What is the "M" in SMART goals? - CORRECT ANSWER-Measurable - Goals should
be measurable or quantifiable
BRAINSCAPE1
MGMT-3013, Exam 2 Exam with
complete solutions latest version
A mission statement expresses what? - CORRECT ANSWER-Why the organization
exists
What does a vision statement express? - CORRECT ANSWER-What the organization
wants to become
Decreasing costs by 15% over three years is an example of what? - CORRECT
ANSWER-An Action plan
if Juan runs a ranch and is partnering with a butcher to start a beef delivery service, how
will Juan know if his company has a sustainable advantage? - CORRECT ANSWER-
Juan will produce and deliver more beef more effectively than competitors
What would excellent customer classify under the SWOT analysis? - CORRECT
ANSWER-A strenth
Cost leadership strategy and differentiation strategy have what in common? -
CORRECT ANSWER-Both focus on wide markets
A company that discontinues product lines or withdraws from certain markets is
pursuing a what type of strategy? - CORRECT ANSWER-Defensive Strategy
Sally runs a chicken sandwich shop and has been brainstorming ways to grow her
business in a competitive market. She has considered giving away free sandwiches,
starting reward programs, and increasing advertising. What stage of decision-making is
this? - CORRECT ANSWER-Thinking up alternative solutions
Michael likes working as an accountant because it has structure, certainty and the daily
work is routine. Michael posses what quality? - CORRECT ANSWER-Has a value
orientation of task and technical concerns
BRAINSCAPE1
, BRAINSCAPE1
The competing values framework lists four types ______ which includes market, clan,
adhocracy, and hierarchy - CORRECT ANSWER-Organizationals cultures
what cultures use collaboration to encourage employees to have a strong sense of
identification with and commitment to the organization? Employee behaviors are
governed by strong norms rather than formal rules and authority figures - CORRECT
ANSWER-Clan cultures
What is planning? - CORRECT ANSWER-Setting goals and deciding how to achieve
them. It is coping with uncertainty by formulating future courses of action to achieve
specificied results?
What is a plan? - CORRECT ANSWER-A plan is a document that outlines how goals
are going to be met
What is a business plan? - CORRECT ANSWER-A document that outlines a proposed
firm's goals, the strategy for achieving them, and the standards for measuring success
What is Strategy? - CORRECT ANSWER-A strategy sets the long-term goals and
direction for an organization. It represents an educated guess about long-term goals or
direction to pursue
What is strategic management? - CORRECT ANSWER-The formulation and the
implementation of strategies and goals. It is a process that involves managers from all
parts of the organization.
What level of strategy concerns top management? - CORRECT ANSWER-Strategic
planning, 1-5 years
What level of strategy concerns middle management? - CORRECT ANSWER-Tactical
planning, 6-24 months
What level of strategy concerns first-line managers and team leaders? - CORRECT
ANSWER-Operational planning, 1-52 weeks
What are the smart goals? - CORRECT ANSWER-1. Specific
2. Measurable
3. Attainable
4. Results-oriented
5. Target-date
What is the S in SMART goals? - CORRECT ANSWER-Specific - Goals should be
stated in specific terms
What is the "M" in SMART goals? - CORRECT ANSWER-Measurable - Goals should
be measurable or quantifiable
BRAINSCAPE1
