Question

Burger King’s successful Angus Burgers pushed McDonald’s to come out with a new Angus Burger in order to compete. Burger King is using the ______ strategy, while McDonald’s is using the ______ strategy.

	a.	analyzing; prospecting
	b.	prospecting; analyzing
	c.	defensing; analyzing
	d.	defending; prospecting

Asics successfully competes with much larger Nike and Adidas by concentrating on the running shoe market. What kind of strategy does this represent?

	a.	a focus strategy
	b.	a differentiation strategy
	c.	a cost leadership strategy
	d.	an operations strategy

Most strategic plans are ______, whereas operational plans are more often ______.

	a.	procedures; policies
	b.	single use; standing plans
	c.	policies; procedures
	d.	standing plans; single use

In case of emergency (e.g., fire), Crackers, Inc. has established a number of steps that are effective and will lead to the safety of the employees. Most likely this refers to a ______.

	a.	procedure
	b.	rule
	c.	policy
	d.	program

John is a manager on a manufacturing line. He has cross-trained a few employees on all stations so that if a key employee calls in sick, another employee can fill in to do the job. John is making ______ plans.

	a.	repeating
	b.	standing
	c.	contingency
	d.	turnaround

Knowing when it is appropriate and limiting distractions and interruptions are part of deciding whether or not to ______.

	a.	set priorities
	b.	make a contingency plan
	c.	multitask
	d.	implement a time management system

An important part of controlling is ______.

	a.	staying within the budget when appropriate and changing it when necessary
	b.	to keep changing, as change is always good
	c.	multitasking so that more tasks are under control
	d.	implementing everything you have planned for even though the environment will change

The final stage of the strategic planning process involves ______.

	a.	identifying the problem and implementing the solution
	b.	setting objectives and controlling
	c.	implementing and setting criteria
	d.	implementing and controlling strategies

The following objective is missing a specific and measurable result: “To increase sales in 2016.”

True

False

Answer 1

1. b) prospecting; analyzing.
2. a)  a focus strategy.
3. c) policies; procedures.
4. a)  procedure.
5. c)  contingency.
6. d)  implement a time management system.
7. a)  staying within the budget when appropriate and changing it when necessary.
8. d)  implementing and controlling strategies.

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