Management

Business

Quiz 5 :
Planning: The Foundation of Successful Management

Quiz 5 :
Planning: The Foundation of Successful Management

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Getting a college degree is not only a big goal,it's a hard goal-difficult,stressful,expensive,and time-consuming.
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True False
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Answer:

True
Explanation: Getting a college degree is not only a big goal,it's a hard goal-difficult,stressful,expensive,and time-consuming.

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Research has proven that writing out goals does not necessarily help a person feel more confident when entering a new group.
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True False
Answer:

Answer:

False
Explanation: Research suggests that writing about two paragraphs outlining your goals will help you feel more confident and energetic when entering a new group.

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Research suggests that when writing out and achieving a person's biggest goals,it is important to make a concrete plan,break goals into manageable bites,and seek social support.
Free
True False
Answer:

Answer:

True
Explanation: Research suggests the advice for writing out and achieving a person's biggest goals are to (1)make a concrete plan, (2)break goals into manageable bites, (3)put something of value on the line, (4)bundle temptations or rewards to efforts,and (5)seek social support.

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When Joseph,a restaurant manager,plans,he sets goals and then decides how to achieve them.This is the definition of planning.
True False
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A business plan is a management tool that contains a list of the competition,along with the competitors' product strengths and prices.
True False
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A business model outlines what customer needs the company will satisfy,the operations of the business,the company components and functions,and the projected revenue and expenses.
True False
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A business model is a type of business plan.
True False
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Strategic management involves all managers within the organization.
True False
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A company's mission and vision is the foundation of an organization's planning and strategic management.
True False
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Almost everyone starting a new business is advised to write a business plan.
True False
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When using MBO,managers should meet about once a year,either informally or formally,to review progress on meeting objectives.
True False
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One purpose of strategic planning is to "keep the eye on the plan" and avoid invention.
True False
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Upper-level managers prepare the action plans for attaining objectives for all levels of management.
True False
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Every five years,the upper-level managers of ABC Technology meet to develop a new large-scale action plan that will set the direction for the company for the next five years.In that meeting the managers are developing a strategy.
True False
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The upper-level managers of Deluxe Coffee are meeting to discuss the long-range goals and vision of the company.Like any organization,an organization should adopt planning and strategic management for two reasons: to provide direction and momentum and to encourage retention of high-value employees.
True False
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Quality Carwash is developing a new philosophy on company diversity.Like most organizations,Quality Carwash's reason for being is expressed in its diversity statement.
True False
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What the organization wishes to become is expressed in a mission statement.
True False
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The responsibility for the development of an organization's mission statement,which outlines the company's competition and how it will ethically compete in the market,is the responsibility of top management and the board of directors.
True False
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When Holiday Inn Express stated that the organization strives to "be the primary source of hospitality in the communities" it serves by providing its customers "the best possible experience and by being good neighbors," this is a code of ethics.
True False
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Strategic planning determines goals for an organization for a period of 5 to 10 years.
True False
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