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Exam 5: Planning and Decision Making

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Question 41

Multiple Choice

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Year in and year out, Coca-Cola outperforms in the soft drink industry. While this success is due in part to the quality of their products, it is also due to Coca-Cola's consistently strong marketing campaigns. These campaigns represent Coca-Cola's ongoing, or ________, plan to develop and execute a world-class marketing and promotion strategy.

A) operational
B) single-use
C) standing
D) contingency
E) subject

F) C) and E)
G) A) and D)

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Question 42

Multiple Choice

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________ is the phenomenon that occurs in decision making when group members avoid disagreement as they strive for consensus.

A) Goal displacement
B) Domination
C) Intuition
D) Groupthink
E) Brainstorming

F) All of the above
G) C) and D)

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Question 43

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Which stage of the planning process is Miteron Corp. involved in if it is assessing how well alternative plans meet high-priority goals while considering the cost of each initiative and the likely investment return?

In ________ planning, frontline managers usually focus on routine tasks such as production runs, delivery schedules, and human resource requirements.

An advantage in using a group for decision making is that it

Jim's manager and mentor, Naomi, helped Jim develop his first business plan. Naomi said, "Jim, one of the most powerful tools that you can use in developing a strategic plan for your division is to analyze the external environment and your internal resources. I will help you formulate this strategy by using a technique called

According to the ________ plan of Xenon Inc., if expansion to new markets in Australia does not materialize, the company will strive for expansion in Asia.

Functional strategies are implemented

If an organization's mission statement describes the organization as it currently operates then its strategic vision points to the

The two broad categories of resources typically considered during planning and SWOT analysis are tangible assets and intangible assets. List two examples of tangible assets and two examples of intangible assets available to or used by an organization. Describe under what circumstances resources can be a source of competitive advantage.

Differentiate between programmed and nonprogrammed decisions. Which type is more typical for managerial decisions?

In order to reduce production costs, Tryon Inc., an automobile manufacturer, decided to buy out a glass plant and begin manufacturing the glass for the windows of cars on its own. The corporate strategy adopted by the company is known as

With managerial decision making, decision evaluation is useful

In an effort to combat groupthink and an overall lack of creativity, the group leader assigned Lucy the job of criticizing ideas, for the sake of argument, throughout the meeting. Lucy is playing the role of a

The ________ matrix is not a substitute for management judgment; it helps managers of businesses evaluate their strategy alternatives.

Illusion of control, discounting the future, and framing effects are examples of

The goal of ________ is to thoroughly understand the "best practices" of other firms and to undertake actions to achieve better performance and lower costs.

The management team of True Care Medical Center is deciding whether to include more advanced, and substantially more costly, technologies. This is a nonprogrammed decision, because the underlying problem

"I am pleased to announce that we have acquired Halley's Fruit Juices, a premier producer of natural beverages," said Trent Lamb, CEO of Granddad's Root Beer. "This will allow us to take advantage of our strengths by applying them in a new business that is similar to our core business." Trent is speaking of a(n) ________ strategy.

In the context of planning, if there is alternative generation, evaluation, and selection steps which reveal several different future scenarios, a different ________ plan is attached to each scenario.