Which of the following steps in planning increases the scope of adaptability of a plan?

	Maintaining flexibility in planning
	Developing commitment to goals
	Developing long-term action plans
	Tracking progress toward goal achievement

Management by objectives is a management technique often used by middle managers to develop and carry out operational plans.

	True
	False

Carolyn, a designer at Logisign, was not given the promotion she was expecting during the annual performance appraisal. She took this personally and got into an argument with her supervisor. In this scenario, the disagreements between Carolyn and her supervisor can best be classified as _____ conflict.

	a-type
	cognitive
	c-type
	constructive

According to your textbook, research suggests the nominal group technique typically produces better decisions than the devil's advocacy and dialectical inquiry approaches.

	True
	False

Daniel has started a small shoe manufacturing company. He has a tight budget and does not want the best equipment at the moment, so he is using equipment that is good enough to work with. In this scenario, Daniel is _____.

	maximizing
	discounting
	specializing
	satisficing

FreeSpirit is a global consumer-products company. It manufactures a number of new products ranging from personal care to food and beverages. Its products are sold all across the world, and it continuously searches for new markets. It has doubled its investment to market its products, and it invests heavily in social media and other advertisement mediums. In the context of adaptive strategies, FreeSpirit is most likely to be categorized as a(n) _____.

	reactor
	analyzer
	cost leader
	prospector

Cardwire Inc. has decided to lower the price of all its products to keep up with its competitors. To achieve this, the company needed to lower its overall costs. However, the procurement department at Cardwire has been spending twice its allotted budget to buy raw materials. Which of the following best illustrates the situation at Cardwire?

	Competitive inertia
	Job deskilling
	Strategic dissonance
	Price fixing

In the context of direct competition, __________is defined as the degree to which two companies have overlapping products, services, or customers in multiple markets.

	related diversification
	resource similarity
	direct competition
	market commonality

SmartHand, a company that manufactures wristwatches, has started manufacturing and selling sunglasses in the American market. The products turn out to be a huge success. Inspired by SmartHand's success, Jeremy & Daniel, manufacturers of wristwatches in Europe, start selling sunglasses in the European market. In the context of adaptive strategies, Jeremy & Daniel would most likely be categorized as a(n) _____.

	defender
	prospector
	analyzer
	reactor

A competitive advantage becomes a sustainable competitive advantage when

	a company collaborates with its competitors to obtain a larger market share.
	other companies cannot duplicate the value a firm is providing to customers.
	a company uses a competitive move designed to reduce a rival's market share or profits.
	market commonality is large, and companies have overlapping products or services.