BUSI 310 Read & Interact Chapter 5 Assignment solutions complete answers

BUSI 310 Read & Interact Chapter 5 Assignment solutions complete answers 

 

What is the name of the human-centered approach to innovation that integrates customer needs, the potential of technology, and the requirements for business success?

 

Which actions are NOT requirements for effectively managing group decisions? (Choose every correct answer.)

 

Which statement about the design thinking process is true?

 

What are three requirements for effectively managing group decisions? 

 

Which tactics are generally NOT employed by fast-acting firms to meet time pressures without sacrificing quality? (Choose every correct answer.)

 

What are potential advantages of using a group to make a decision? (Choose every correct answer.)

 

How do social realities affect decision making? (Choose every correct answer.)

 

What are common potential problems associated with group decision making? (Choose every correct answer.)

 

Which are tactics employed by fast-acting firms to meet time pressures without sacrificing quality? (Choose every correct answer.)

 

Which statement is true about using a group to make a decision?

 

Which factors should managers take into account when considering the social realities of a decision? 

 

Which factors may be barriers to effective decision making? (Choose every correct answer.)

 

What actions should be taken during the sixth and final stage of the decision-making process? (Choose every correct answer.)

 

Once a choice is made in the decision-making process, managers must put their choice into action. What term is used to describe this process?

 

What are some psychological biases that act as barriers to effective decision making?

 

Which factor is NOT a barrier to effective decision making?

 

What name is given to the stage of decision making where information is collected and compared to goals and plans to determine success or failure?

 

What is the fourth step in decision making, which occurs after all the possible consequences of the options have been evaluated?

 

What factors should managers compare current performance to in order to find sources of discrepancies in performance? (Choose every correct answer.)

 

What is involved in the second stage of decision making?

 

A company that is a leader in the pet food category decides to expand its operations into electric vehicles and cosmetics. What kind of strategy is the company adopting? 

 

What is the first step in the ideal decision-making process?

 

What name is given to the state that exists when decision makers have accurate and comprehensive information?

 

What are two generic business strategies? (Choose every correct answer.)

 

What kind of diversification is a company using when it expands into different types of businesses in order to minimize risk?

 

What is the fifth step of the strategic management process?

 

A strategy of related diversification involves moving into new businesses that are related to the company's ________ business.

 

What kind of strategy is a company using when it focuses all energies in a single industry? 

 

What type of strategy defines the major actions by which a company builds or strengthens its competitive position in the marketplace?

 

What type of strategy identifies the set of businesses in which the organization competes and the distribution of resources among those businesses?

 

A company that is a leader in the pet food category decides to expand its operations into electric vehicles and cosmetics. What kind of strategy is the company adopting?

 

In which general business environment do opportunities and threats arise?

 

What type of strategy involves moving into new businesses that are similar to the company's original core business?

 

What type of strategy involves expanding the domain of the organization to include supply channels and distributors?

 

What is the goal when companies concentrate on a single industry?

 

Which are components of the internal resource analysis? (Choose every correct answer.)

 

The process of assessing a company's internal strengths and weaknesses as well as determining external threats and opportunities is known as a ___________ analysis.

 

What are inputs to a system that can enhance performance?

 

What process involves managers from all parts of the organization in the formulation and implementation of strategic goals?

 

Which statement is true about aligning tactical, operational, and strategic plans?

 

Which analysis is made up of components such as a financial analyses and marketing audits?

 

Which type of plan focuses on the specific actions a particular unit must take to fulfill its part of the strategic plan?

 

What is the second step in the strategic management process?

 

Strategic plans have a strong ______ orientation and cover major portions of the organization.

 

As noted in step 5 of the planning process, proper ______ is the key to achieving goals.

 

A strategic plan involves making decisions about the organization's ________ goals.

 

What is the fourth step of the formal planning process?

 

Which action takes place during Step 3 of the planning process?

 

The second step of the planning process should generate ______ goals and plans for the future.

 

What is step 1 of the basic planning process?

 

Implementation of the plan comes after which step in the planning process?

 

What term describes the conscious, systematic process of making decisions about goals and activities that an individual, group, or organization will pursue in the future?

 

The goal and plan selection step of the formal planning process comes after which action?

 

Which step of the formal planning process involves evaluating goals and plans?

 

Which of the following is true of the design thinking process?

 

A common technique used for eliciting creative ideas from group members that requires group members to generate as many ideas about a problem as they can is called:

 

A human-centered approach to innovation that integrates customer needs, the potential of technology, and the requirements for business success is known as ______.

 

Suhindra is in a work group that has a goal of coming up with a proposal for workplace childcare. The group strives to work cohesively as a team, and as a result Suhindra does not want to question members' ideas. In fact, nobody in the group voices any disagreement. Suhindra's group is guilty of ______.

 

When using groups to make decisions, what is one of the potential disadvantages?

 

Which of the following is not a barrier to effective decision making?

 

Which of the following is NOT one of the steps managers take when planning an implementation?

 

______ feedback suggests that the implementation will require more time, resources, effort, or thought; alternatively, the decision was a bad one.

 

The decision strategy that results in the greatest benefit, at the lowest cost, with the largest expected total return is called:

 

When assessing alternatives in decision making, which of the following actions is fundamental to the process?

 

In the decision-making process, which one of the following actions comes directly AFTER the act of generating alternative solutions?

 

Which stage in the formal decision making process involves making the choice among the alternatives?

 

Which stage of the decision-making process involves the fundamental process of predicting the possible consequences that will occur if the various options are put into effect?

 

Which stage in the formal decision-making process involves determining the value or adequacy of the alternatives that were generated?

 

Which of the following are common consequences of a manager making the wrong decision? (Choose all that apply.)

 

The state that exists when decision makers have accurate and comprehensive information is called _____.

 

What is the term to describe a novel and unstructured problem that leaves a decision maker uncertain about how to proceed?

 

What exists when thRisk

 

______ decisions are used when there is no predetermined structure and the decision maker must create a method for making the decision.

 

Senior executives generally ______ the implementation of strategies, while lower-level managers ______ the implementation.

 

True or false: As a manager, you will constantly be making decisions.

 

The final step in strategy formulation is to establish the major ______ strategies.

 

An organization's _____ must support its strategy.

 

A company using a differentiation strategy is attempting to be ______ in its industry or market segment.

 

In the BCG matrix, a ______ is a company that has a strong competitive position in a low-growth market.

 

A ______ business strategy is one where companies offer a standard, no-frills product.

 

Businesses that need heavy investment but are able to perform well and generate needed revenues due to their strong competitive position in a high-growth market are ______.

 

Which of the following are the characteristics of a cash cow, according to the BCG matrix? (Choose all that apply.)

 

When a corporation has a business portfolio it has _____.

 

When a company has a(n) ______ diversification strategy, it expands into diversified businesses to minimize risk.

 

When conducting a SWOT analysis, opportunities and threats arise in the ______ environment.

 

A company that reinvests its profits back into the company's current industry to strengthen its competitive position is implementing a(n) ______ strategy.

 

A resource that is valuable, rare, inimitable, and organized can be viewed as a company's _______________.

 

When a company has a resource that is ______, competing firms cannot copy that company's business practices or provide similar customer benefits.

 

SWOT is an acronym that stands for ______, weaknesses, opportunities, and threats.

 

Which of the following is NOT an example of intangible resources?

 

The two types of resources are ______ resources that are things you can touch, such as buildings or machinery, and ______ resources that are things you cannot touch, such as reputation or knowledge.

 

Which of the following is NOT a tangible asset?

 

Which factors are part of an environmental analysis?

 

Which analysis is made up of components such as a financial analysis or a marketing audit?

 

An analysis of the environment of an organization would examine the company's industry growth, labor issues, and the social environment as well as the __________.

 

What drives the analysis of the external environment (opportunities and threats)?

 

The mission, vision, and goals statements should ______.

 

Which are elements included in an environmental analysis?

 

With whom should mission, vision, and goals statements be shared?

 

What does it mean for an organization to be "mission driven"?

 

_______ flow from the mission and vision of the organization.

 

Which process has six steps that begins with the creation of a mission, vision, and goals?

 

The strategic ______ points to the future by providing a perspective on where the organization is headed and what it can become.

 

In the past, ______ have been responsible for the development and execution of the strategic plan.

 

Traditionally, senior executives in an organization have been responsible for the development and execution of the __________ plan.

 

To be effective, an organization's strategic, tactical, and operational plans must be ______.

 

The type of plan that translates broad strategic goals into specific goals that are relevant to a particular organizational function is known as a(n) ______ plan.

 

What best describes the meaning of strategy in terms of business planning?

 

Typical ______ goals may include fostering quantity and quality of outputs and/or improving profitability.

 

In Step 6, managers need to develop control systems to: (check all that apply)

 

The major targets or end results that relate to the long-term survival, value, and growth of the organization are known as ______.

 

In general, managers in the selection step of the planning process will select the plan that

 

In order for a plan to be implemented successfully, managers and employees must understand the plan, ______, and have the resources to implement it.

 

In step 3 of the planning process (goal and plan evaluation), ________ is a typical task.

 

Which term best describes an ongoing sales plan?

 

Which type of plans are designed to achieve a set of goals that are not likely to be repeated in the future?

 

Which of the following is characteristic of the situational analysis?

 

Plans that respond to external events are known as ______.

 

Which type of plan is designed to achieve an enduring set of goals?

 

In the planning process the targets that managers want to achieve are known as ______.

 

What is the conscious, systematic process of making decisions about goals and activities that an individual, group, or organization will pursue in the future?

 

A     goal is one that is precise, describing particular behaviors and outcomes.

 

When generating and evaluating alternative plans, organizations sometimes create     that are descriptions of alternative future circumstances.

 

A decision resulting in the best possible outcome is called    .

 

Once completed, a SWOT analysis can formulate a strategy to capitalize on opportunities by leveraging organizational    .

 

    plans typically cover a time horizon of a year or two.

 

The BCG matrix is a popular technique that companies using a(n)     strategy can use to analyze their portfolio of businesses.

 

The monitor and control step of the planning process comes after which step?

 

The most effective strategy is one that     are unwilling or unable to imitate.

 

True or false: Satisficing is less likely in groups.

 

When a company employs an unrelated diversification strategy, the many businesses that make up the corporation may be referred to as a business    .

 

A resource that is both rare and not ____________ all competitors means that the firm with access to the resource has opportunities not available to the competitors.

 

When an employee is involved in the development of a goal or plan, the employee is usually: (Check all that apply.)

 

Stakeholders are groups and individuals who impact and are impacted by    .

 

    is the process of amassing, reviewing, and summarizing all information concerning a particular planning issue.

 

Which of the following elements are included in an environmental analysis? (Check all that apply)

 

What type of system is designed to support managers in evaluating the organization’s progress with its strategy and, when discrepancies exist, taking corrective action?

 

For mission and vision statements to actually guide the behavior of organizational employees, they must have    .

 

The    step in the strategic management process involves creating a mission, vision, and goals.

 

Strengths and weaknesses refer to     resources.

 

Khalid likes shopping at the Serendipitea website because it tracks his past tea orders, gives recommendations based on his past orders, and allows him to keep a wishlist of teas he wants to try. All of these features create ______.

 

A     goal is one that contributes to the organization’s mission while being consistent with its values.

 

One challenge of decision making that suggests problems are unique and have a high degree of uncertainty, and thus there is no standard way to approach the problems is referred to as:

 

In order to know if the desired outcome has been met, a goal must be    .

 

Achieving the best possible balance among several goals when making decisions is known as    .

 

Which type of plan focuses on ongoing activities designed to achieve an enduring set of goals?

 

A decision maker decides to allow clear cutting of timber in a pristine state forest. This allowance will infuse much-needed funds into state government, so the decision maker chooses not to consider the environmental impact reports. In decision-making terminology, what is this decision maker doing?

 

The challenges associated with decision making include risk, uncertainty, conflict, and    .

 

If a decision appears inappropriate, the decision-making process cycles back to the     stage.

 

The result of a SWOT analysis can identify organizational     that make it more difficult to pursue a preferred strategy because they limit what a firm can do.

 

A universal review is the type of analysis that examines other forces in the environment such as economic conditions and technological factors.

 

A     is a company with a weak competitive position in a low-growth market, according to the BCG matrix.

 

In order for a resource to be able to help a company attain a competitive advantage it must create value for the customer, be rare, be difficult to imitate, and be:

 

A narrative that describes a particular set of possible future conditions is a(n)    .

 

One method for encouraging different views involves assigning the role of     to criticize ideas to ensure the downsides are exploited.

 

In companies such as McDonald’s, whose mission and vision statements have successfully guided change, the support of     was essential to strategy implementation.

 

When conducting a SWOT analysis, _____________ and ___________ arise in the macroenvironment and competitive environments.

 

A relevant goal should contribute to the     mission.

 

Cosmetics company Skinnit offers a unique eye cream formula that is touted by the industry as the best. Consumers are willing to pay a lot of money for the eye cream, and many consider the cream’s benefits to be superior to all other eye creams. Skinnit is offering a     resource.

 

Kandy's Koffee is engaging in the strategic management process. The company is deciding whether or not to make its mission to provide the most environmentally friendly and locally sourced coffee at the best price to customers. Kandy's Koffee is working on which step of the strategic management process?

 

The most effective strategy is one that competitors are unwilling or unable to    .

 

For a plan to be successfully implemented, the organization has to link the plan to a     to ensure adequate financial resources.

 

Even a company that has successfully implemented a(n)     strategy must still offer products with features that are acceptable to customers compared to competitors’ products.

 

A method for encouraging different views involves a process called    , a structured debate between two conflicting courses of actions.

 

Managers at     levels are involved with identifying and executing ways to implement the chosen strategy.

 

In order to successfully     a business strategy, a company’s structure, technology, human resources, information systems, and leadership style must all support the strategy.

 

True or false: The final step in strategy formulation is to establish the major corporate strategies.

 

In the selection step of the planning process, managers will select the plan that they believe to be    .

 

Typically,     are responsible for the development and execution of the strategic plan.

 

    occurs when the customer gains an increase in benefit from a good or service relative to its cost.

 

For a goal to be measurable, it needs to be     so that there is no doubt that it has been achieved.

 

Zappos.com offers customer service that is practically unheard of in business. Customer service representatives are allowed to take whatever measures they feel are appropriate to make sure their customers are happy. This feature gives Zappos a competitive advantage because    .

 

A city planner preparing for an upcoming bicentennial celebration would likely use which of the following type of plan?

 

When creating scenarios of possible future states, it is helpful to have     plans associated with each scenario.

 

“What if” plans are known as    .

 

Efficiency occurs when a decision results in the best possible outcome.

 

Which of the following statements about businesses that are question marks in the BCG matrix is true?

 

Choosing the first option that is minimally acceptable or adequate when making a decision is known as

 

According to the BCG matrix, a     is a company with a strong competitive position in a high-growth market.

 

Why is Step 6 of the planning process so important?

 

Which of the following are among the steps of the strategic management process?

 

While it is important for goals to be challenging, they also need to be     so that employees are not discouraged.

 

True or false: Strategic goals evolve from the mission and vision of the organization.

 

The environmental analysis includes an investigation of labor needs and shortages, which is part of which component?

 

A successfully completed internal analysis of the firm will allow a company to identify its strengths and    .

 

Which of the following are typically responsible for the development and execution of the strategic plan?

 

The formal decision making process has six steps. Which step involves implementing the decision?

 

Which of the following are two generic business strategies? (Check all that apply.)

 

When a company attempts to stand out by focusing on high product quality, outstanding marketing, or superior service, it is using a     business strategy.

 

What are the potential advantages of using a group to make a decision? (Check all that apply.)

 

Which of the following are examples of major functional areas?

 

Which of the following are the SMART characteristics of effective goals?

 

In step 2, the process of generating several alternative goals, managers and other decision makers are encouraged to be    .

 

A strategy of     involves moving into new businesses that are similar to the company’s original core business.

 

After a strategy is formulated, strategic managers must help make sure it is    .

 

The condition in which managers have insufficient information and thus cannot know what the outcome of actions will be is    .

 

Strategy formulation comes immediately after    .

 

Companies concentrate on a single industry to    .

 

 

According to the BCG matrix, a dog is a company that has a weak competitive position in a _______ market.
 
 
Buyers, suppliers, competitors, government, and regulatory agencies are all ______.
 
 
A decision bias influenced by the way a problem or decision alternative is phrased or presented is known as a(n) ______ effect in decision-making terminology.
 
 
The fourth step in decision making, after all the possible consequences of the options have been evaluated, is called _______.
 
 
Gambling is an example of the ______ in that some people believe they have the skill to beat the odds, even though most of the time they cannot.
 
 
Just possessing a resource, even one that is rare and difficult to imitate, may not be sufficient to attain a competitive advantage. In order to create value for the customer, the resource must also be:
 
 
______ occurs when you achieve the best possible balance among several goals.
 
 
The primary difference between tactical and operational plans is that tactical plans have a time horizon of ______ while operational plans only cover a few months.
 
 
The process of assessing how well one company's basic functions and skills compare with those of another company or set of companies is called:
 
 
A strategic plan differs from an operational plan in that a strategic plan requires a _______ level of detail while an operational plan requires a ________ level of detail.
 
 
A strategic plan involves management at the ______ level creating a plan with a _____ level of detail.
 
 
True or false: A strategic vision helps a company understand its past so it can succeed in the present.
 
 
True or false: The two types of resources are tangible and quantifiable.
 
 
The type of planning that identifies the procedures and processes, such as delivery schedules, required of the lower levels of the organization is known as ______ planning.
 
 
When a company does something particularly well relative to its competitors, it can be said to have a:
 
 
When searching for solutions, there are times when what has been done before is not applicable. In these unique situations, managers search for ______ solutions, or those that must be designed for specific problems.
 
 
Which of the following are among the levels of organizational planning? (Choose all that apply)
 
 
Which of the following tasks are typically conducted by managers in the goal and plan evaluation step of the formal planning process? (Choose all that apply.)
 
 
According to the BCG matrix, ______ are those businesses that have a weak competitive position in a high-growth market.
 
 
Along with dialectic, another method managers can implement for encouraging different views is ______.
 
 
A(n) ________ plan focuses on the specific actions a particular unit or function must take to fulfill its part of the strategic plan.
 
 
A(n) ______ plan is an alternative plan that can be implemented when circumstances change, and the original plan is no longer effective.
 
 
A(n) ______ plan specifies actions when initial plans fail or events in the external environment create sudden change.
 
 
______ are inputs to production that can be accumulated over time to enhance the performance of a firm.
 
 
The belief that one can influence events even when one has no control over what will happen is known as ______.
 
 
A company is a leader in the pet food category. It decides to expand its operations into electric vehicles and cosmetics. The company is adopting a(n) ______ strategy.
 
 
The      describes the organization as it currently operates, whereas the strategic vision points to the future.
 
 
Evaluating a firm's staff on its abilities and its drawbacks is part of which step of the strategy implementation process?
 
 
An example of a process that operational planning considers is ______.
 
 
The first step in the planning process, situational analysis, summarizes information relevant to the planning issue. In the second step, the planners should use the findings from the first step to produce ______.
 
 
The fourth step of the formal planning process is ______.
 
 
Frank needs to make a decision but does not know the probabilities of alternative outcomes. Future outcomes are also unknown. This exemplifies ______.
 
 
Generally, it is important for goal achievement to be linked to the organization's ______ to encourage employees to work hard to attain the plan's goals.
 
 
The goal of ______ is to have a good understanding of the "best practices" of other companies and to undertake actions to achieve better performance or lower costs.
 
 
How do social realities affect decision making? (Check all that apply.)
 
 
Ideas that have been seen or tried before are called      -made solutions. (Remember to type only one word in the blank.)
 
 
In Step 6, managers need to develop      systems to measure performance and take corrective action when the situation changes.
 
 
In the first stage of decision making, the sources of discrepancies that exist in organizational or unit performance may be detected when comparing current performance against: 
 
 
Josephine decided to go with option three because it resulted in the lowest cost and provided the greatest benefits with the largest expected total return. Josephine is using the decision strategy called ______.
 
 
The long-term direction and strategic intent of a company is its ______.
 
 
Management at Dungaree Denim acquired a factory at an incredibly low price. The factory came outfitted with necessary equipment, and it could discard the water involved in producing its high-end jeans into the neighboring river. Dungaree was aware that the river was undergoing an environmental survey due to talks of endangered fish, but Dungaree believed everything would work out fine. Which type of psychological bias did Dungaree's decision demonstrate?
 
 
Managers are faced with tough decisions daily, and most complex managerial decisions lack structure. Which of the following characteristics add to the difficulty and pressure managers experience when making tough decisions? (Choose all that apply)
 
 
Mason has considered all possible consequences of his options. Which of the following describes the behavior Mason would use to maximize his decision?
 
 
The ______ matrix is a popular technique for helping companies analyze their portfolio of unrelated businesses.
 
 
Merriwether Farms supplies ferns to Flowers Unlimited, Incorporated. In this example, how is Merriwether Farms related to Flowers Unlimited?
 
 
Most people do not like having to attend meetings and may display negative behaviors, such as criticizing members who want to explore new options, as a way to end a meeting. This occurs more frequently in group decision making and may result in _______, rather than working to arrive at the best decision.
 
 
_________ occurs when you choose the first option that is acceptable, although it may not be the best or perfect option.
 
 
One of the outcomes of environmental analysis is to predict future trends, also known as ______.
 
 
A person who has the role of criticizing ideas to ensure that their downsides are fully explored is referred to as:
 
 
A phenomenon that occurs in decision making when group members avoid disagreement as they strive for consensus is known as ______.
 
 
Planning occurs at four levels of the organization; the strategic, ______, team leader, and operational level.
 
 
The second step in the strategic management process is ______.
 
 
The state that exists when decision makers have accurate and comprehensive information is known as     .
 
 
Strategic goals are the major targets that relate to the long-term ______ of the organization. (Choose all that apply)
 
 
______ strategies are implemented by each functional area of the organization to support the company's business strategy.
 
 
A _________ strategy identifies the set of businesses in which the organization competes and the distribution of resources among those businesses.
 
 
A strategy of related diversification involves moving into new businesses that are related to the company's original ________ business.
 
 
A structured debate between two conflicting courses of action is called a ______.
 
 
There are four levels of managers, top-level, middle-level, ____________ and team leaders, but there are three levels of planning.
 
 
The three requirements for effectively managing group decisions include which of the following? (Check all that apply.)
 
 
To succeed in the low-cost strategy, companies generally need to be the _______ in the market segment and offer a product that is acceptable to the customers.
 
 
The unique or differentiated position within the industry is often based on: (check all that apply)
 
 
Using decision-making terminology, a decision bias influenced by the way in which a problem or decision alternative is phrased or presented is known as a(n)       effect.
 
 
A vertical integration strategy involves expanding the domain of the organization into _____ or to _____.
 
 
When considering the social realities of a decision, it is important that managers take into account which of the following?
 
 
When evaluating alternatives, it is important to refer to your original      defined in the first stage.
 
 
When the resources of the firm meet four particular conditions--they create value for the customer, they are rare, they are difficult to imitate, and they are well organized--then they become a source of ______.
 
 
Which of the following are actions to take during the sixth and final stage of the decision-making process? (Check all that apply.)
 
 
Which of the following are among the categories of businesses that are identified by the BCG matrix? (Choose all that apply)
 
 
Which of the following are among the steps of strategy implementation? (Choose all that apply.)
 
 
Which of the following are common potential problems associated with group decision making?
 
 
Which of the following are examples of intangible assets? (Choose all that apply.)
 
 
Which of the following are examples of tangible assets?
 
 
Which of the following are methods managers can implement for encouraging different views? (Check all that apply)
 
 
Which of the following are necessary for successful implementation of a plan? (Choose all that apply.)
 
 
Which of the following are NOT tactics employed by fast-acting firms to meet time pressures without sacrificing quality? (Check all that apply)
 
 
Which of the following are psychological biases that act as barriers to effective decision making?
 
 
Which of the following are risks associated with technology leadership? (Check all that apply)
 
 
Which of the following are steps managers should take when planning an implementation? (Check all that apply.)
 
 
Which of the following are tactics employed by fast-acting firms to meet time pressures without sacrificing quality? (Check all that apply)
 
 
Which of the following are the usual outcomes of involving employees in the planning of a company goal or plan?
 
 
Which of the following are typical strategic goals? (Check all that apply)
 
 
Which of the following best explains what takes place in setting a strategy?
 
 
Which of the following characteristics are consistent with a nonprogrammed decision?
 
 
Which of the following is NOT a risk associated with technology leadership?
 
 
Which of the following levels of managers utilize planning? (check all that apply)
 
 
Which of the following statements about aligning tactical, operational, and strategic plans is true?
 
 
Which of the following statements about using a group to make a decision is true?
 
 
Which of the following statements concerning managerial decision making and risk are true?
 
 
Which stage of the formal decision making process involves generating alternative solutions?
 
 
Goal      is a condition that occurs when a decision-making group loses sight of its original goal and a new, less important goal emerges.
 
 
 
 
 
A ______ identifies the set of businesses, markets, or industries in which the organization competes and the distribution of resources among those businesses.
 
 
Implementation of the plan follows which of the following steps of the planning process?
 
 
In      , group members generate as many ideas about a problem as they can in order to elicit creative ideas.
 
 
A ________ is a clear and concise expression of the basic purpose of the organization.
 
 
The process of making decisions about goals and activities that an organization will pursue in the future is referred to as     .
 
 
The stage in which goals and plans are evaluated is the ______ step of the formal planning process.
 
 
As noted in Step 5, proper ______ is the key to achieving goals.
 
 
The goal and plan selection step of the formal planning process follows which of the following steps?
 
 
A group or individual who affects or is affected by the achievement of the organization's mission, goals, and strategies is a(n) ______.
 
 
If a decision appears inappropriate, which stage should be re-examined first?
 
 
In terms of the planning process, the targets or ends that managers want to reach are known as     .
 
 
In the ______ stage, planners assemble and study all information relevant to the planning issue in question.
 
 
Negative feedback regarding the implementation of the decision suggests: (check all that apply)
 
 
Once a choice is made in the decision-making process, managers must take action to operationalize their choice. This step of decision making is called ______ the decision.
 
 
A process that involves managers from all parts of the organization in the formulation and implementation of strategic goals is known as ______.
 
 
The stage of decision making where information is collected and compared to goals and plans to determine success or failure is called ______.
 
 
A ______ strategy involves expanding the domain of the organization to include supply channels and distributors.
 
 
Tamera is a manager at a medical device firm. She has a specific problem that cannot be addressed by existing solutions. Tamera should consider a(n) ______ solution.
 
 
The state that exists when the probability of an action succeeding is less than 100% and losses may occur is called    .
 
 
True or false: Good decision makers eliminate all risk.
 
 
When evaluating alternatives in decision making, what goal-related questions should managers consider when deciding among alternatives? (Check all that apply.)
 
 
When managers follow the suggestions of others who have faced similar problems, they are applying ______ solutions.
 
 
Which of the following is the first step in the ideal decision-making process?
 
 
Which of the following takes place during Step 3 of the planning process?
 
 
A company making use of a low-cost business strategy focuses on ______.
 
 
The fifth step of the strategic management process is ______.
 
 
The fourth step of the strategic management process is ______.
 
 
Personal biases that interfere with objective rationality in decision making are called _______ biases.
 
 
Which of the following are among the four conditions necessary for resources to be a source of competitive advantage? (Choose all that apply.)
 
 
Which of the following are barriers to effective decision making? (Check all that apply.)
 
 
Which of the following elements are NOT included in an environmental analysis? (Check all that apply)
 
 
Which of the following are characteristics of the situational analysis? (Check all that apply.)

 

Strategic management involves managers from ______ of the organization in the formulation and implementation of strategic goals and strategies.

 

Which of the following are NOT requirements for effectively managing group decisions? (Check all that apply)

 

A(n) _______ strategy defines the major actions by which a company builds or strengthens its competitive position in the marketplace. 

 

Inputs to a system that can enhance performance are: 

 

The process of assessing a company's internal strengths and weaknesses as well as determining external threats and opportunities is also known as a ___________ analysis. 

 

A __________ plan involves making decisions about the organization's long-term goals and how they intend to achieve the goals. 

 

The second stage of decision making involves: