MAN Ch 8 & 9 Flashcards
(10 cards)
Robert Downs is in the process of setting up a small community newspaper in his home town. As a first step, he sets the following goal for his company: “To be a champion for free speech and for the development of the community.” This goal is to appear clearly on top of every page of the newspaper. The above goal constitutes the ________ goal of the company.
strategic
When making editorial decisions for his newspaper, the owner/editor mostly picks issues that are in line with his political beliefs and those that his advertisers approve of despite his publicly stated goal “to be a champion for free speech and for the development of the community.” This indicates that ________.
the company’s stated goals are not its real goals
Sarah is the owner of a small company that sells corporate gifts through an online store. Business has slowed down in recent months and he realizes that the organization must move in a different direction if it is to survive. She has reset some of the company’s overall goals and wants to develop a plan to achieve those goals. She is anticipating the business environment to be volatile for next few years. Considering the above information, it can be determined that her plan must be ________, ________, and ________.
strategic; specific; flexible
Which of the following is one of the problems associated with traditional goal setting?
Transition of strategic goals into departmental, team, and individual goals is difficult.
Bonnie is discussing with her subordinate Julie the types of projects Julie would like to work on in the coming year. They are setting goals and determining what success would look like. Bonnie and Julie are engaged in ________.
management by objectives
David, the owner of Crazy Cupcakes, is conducting a SWOT analysis of his company. Which of the following represents an opportunity for expansion?
There has been a trend toward personalized cupcakes for a variety of occasions.
At Ronald’s fast food business for five years the French fries are its most popular product. During the past year, its profits have suffered because the farm that supplies it with potatoes has increased its prices drastically. What should Ronald’s do to control its production costs?
Ronald’s should buy out the farm and become its own supplier.
AI Rubber is one of four suppliers of molded rubber products and has a 45% market share. The market for its products is shrinking. AI Rubber is part of a larger corporation that includes a total of seven different companies. In the BCG matrix, AI Rubber would be considered ________.
a cash cow
During the Great Recession, Ashley’s Racing Bikes lost a considerable amount of its business because customers could no longer afford the expensive models in her shop. She was very near bankruptcy. Ashley began carrying a line of less expensive bikes to appeal to recreational bicyclists and families and also opened a repair service. Ashley used a ________ strategy.
turnaround
Bixler Corporation boasts that it has the fewest warranty claims in its industry. We can infer from this that ________.
Bixler’s quality is a competitive advantage
