QUESTION What is the major difference between a vision and a mission statement? A) A vision statement is an operational statement, whereas a mission statement is a strategic concept. B) Unlike a mission statement, a vision statement discusses the core values of the organization. C) A vision statement is a current description of purpose, whereas […]
QUESTION Which one of the following is NOT a benefit of planning? A) Planning helps you cope with uncertainty. B) Planning helps you avoid unforeseen emergencies. C) Planning helps you think ahead. D) Planning helps you coordinate activities. E) Planning helps you check on your progress. ANSWER Answer: B Explanation: B) Planning can help […]
QUESTION What do a company’s vision and mission statement have in common? A) They are both used to generate profits. B) They are both directed toward employees. C) They are both used to keep management on track. D) They are both directed toward customers. E) They are both used to set short-term objectives. ANSWER […]
QUESTION Top managers look ahead to the next one to five years in which of the following type of plan? A) strategic B) vision C) operational D) tactical E) mission ANSWER Answer: A Explanation: A) With the company’s vision and mission in mind, top managers like CEOs look at long-term goals set according to […]
QUESTION Who are responsible for tactical planning and creating specific plans that coordinate with the firm’s strategic vision? A) strategic managers B) middle managers C) supervisory managers D) top managers E) CEOs ANSWER Answer: B Explanation: B) Middle managers take the strategic plans of top management and apply their knowledge of their units’ specific […]
QUESTION Which of the following tasks is usually performed by top-level managers? A) generating strategic plans B) coordinating specific plans with the established strategic vision C) establishing short-term goals D) carrying out operational planning E) verifying that objectives are established for all goals ANSWER Answer: A Explanation: A) Top managers generate strategic plans looking […]
QUESTION The people involved with creating a strategic plan must incorporate each of the following EXCEPT which one? A) fluctuations in the economy B) organizational resources C) long-term goals D) personal bias E) short-term objectives ANSWER Answer: D Explanation: D) Personal bias has no place in any of the planning documents.
QUESTION How might a tactical plan contribute to a company’s success? A) It depends on daily or weekly schedules and focuses on specific departments or employees. B) It determines the resources and actions required to implement particular aspects of the organization’s course of action for a 6- to 24-month time frame. C) It presents an […]
QUESTION How does an operational plan contribute to a company’s success? A) It depends on daily or weekly schedules and focuses on specific departments or employees. B) It determines the resources and the actions required to implement particular aspects of the organization’s main course of action for a 6-month to a 2-year time frame. C) […]
QUESTION Transformational leaders model desirable values by displaying high ethical standards. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Transformational leaders inspire trust by expressing their integrity.
