True (T) or False (F)?Place a T or F on the line beside the question.

____1.Best Buy decides to renovate an existing store in The Shops of Don Mills.This is an example of strategic planning.

____ 2.A car company decides to create over the next four years a new kind of vehicle powered by hydrogen fuel cells rather than gasoline.This is an example of strategic planning.

____3.York Company wants to expand its product line in computer equipment.This expansion is estimated to cost $40 million.However, York has only $25 million available.In planning, this is properly called a threat.

____ 4. Because of its decision- making Canada's WestJet Airlines has one of the lowest levels of operating expenses in the airline industry.In planning, this is properly called an opportunity.

____ 5. Only large business organizations require planning.

____ 6. Top managers have such titles as Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer.

___7. A General Sales Manager would be classified as a middle level manager.

____8.An individual who establishes weekly work schedules, sets unit budgets, and unit policy is usually classified as being at a supervisory level.

____ 9.A statement concerning what business a firm is currently in is regarded in planning as a MISSION STATEMENT.

____ 10.A statement of what a business plans to be in the future such as "We plan to be the leading Canadian low-cost airline"is called a vision statement.

___11. There is one restaurant chain, Starbucks, which offers their employees full medical and other health benefits.This would be included in Starbucks' strategic plan.

___12.Japanese companies have provided quality products with a goal of "not following the crowd".

____13.Harvard Professor Michael Porter developed a model which helps explain the competitiveforces faced by a company.

____14.In the GTA, the market for pizza can be viewed as non-competitive.

____ 15.First movers may capture an entire market and "shut out" new competitors.

Various corporate statements are given to you in Questions 16 to 20.Classify each either as a GOAL (put a G on the line)or an OBJECTIVE (put an O on the line).

______16. "We want to strengthen our relationships with communities."

______17."We plan to open 10 new stores in Eastern and Western Ontario in 2021"

_____18."We plan to reduce our operating costs by 10% in 2020"

______ 19 "We are planning for a sustainable future by reducing our carbon emissions during the coming year."

_____20. "We offer employees an extraordinary workplace."