PLANNING & STRATEGY QUIZ Page 1 of 2 1, A formalized, written set of organizational ideas 9. A is a broad guide for organizational result in the corporate members to follow when dealing with important and a. _ philosophy recurring areas of decision making. b. motto a. program C. mission statement b . budget d rules manual C . standing plan d. policy 2. Strategic planning is the process of developing a mission and long-range objectives and: 10. A corporate strategy is the strategic plan for: a, setting goals. a. managing multiple lines of businesses. b. determining in advance how they will be b. managing one line of business. accomplished. C . managing one area of a business. C. assigning who will accomplish them. d none of these d. determining which planning level will accomplish them. A business strategy is the strategic plan for: a. managing multiple lines of businesses. 3. A course of action created to achieve a long-term managing one line of business. goal is called a , while a course of action managing one area of a business. designed to achieve a short-term goal is considered a d. none of these a. stretch goal, tactic 12. A functional strategy is the operational plan for: b . strategy, tactic a. managing multiple lines of businesses. C . strategy, goal b . managing one line of business d LT tactic, ST tactic C . managing one area of a business. none of these 4 . Short-term goals set by middle managers that must be achieved in order to reach top management's goals are 13 The industry and competitive situation analysis is called: primarily used: a. strategic plan. a. at the corporate level. b. operational goals. at the business level. C . tactical plans. C . at the functional level. d. standing goals. d. to develop contingency plans. 5. One difference between strategic planning and 14 A SWOT analysis is used to determine: operational planning is: a. whether a company might be useful to take over. a. the time frame involved. b. what can be done to deal with a specific problem b. their success rate. confronting the company. C . the effort involved. C. a company's critical success factors. d. budgeted resources. d an organization's internal environmental strengths and weaknesses and external environmental opportunities 6. Specifically, rules, policies, and procedures are and threats. known as plans. a. single-use 15. is the process of comparing an b . temporary organization's products or services and processes with those C. tactical of other companies. d standing Acquisition b . SWOT analysis 7. Programs and budgets are which type of operational C . Strategic planning plan? d. Benchmarking a. single-use b. standing 16. The four "must" criteria for writing objectives C. continuous, ongoing include all of the following EXCEPT: occupational a. single result. b. measurable. 8. Rules, policies, procedures, programs, and budgets C . specific. are all known as plans. d open-ended. a. strategic b. operational tactical single-use
