Sarah Elise Alverson MANGMT 3000 Principles of Management Previously Submitted Lesson Review Lesson Submitted on 11 05 2014 Lesson Number 5 Remember to print a copy of this preview and mark your answers before submitting the actual progress evaluation 10 questions 2 points each 20 points total Multiple choice Choose the one best answer 1 What is the first step in the formal planning process A goal and plan evaluation B situational analysis C monitoring and controlling D implementation E generating alternative goals and plans 2 The three levels of planning are A strategic business and operational B strategic synergistic and operational C strategic tactical and operational D visionary strategy and operational E None of the above is correct 3 A is the most general statement that clarifies the long term direction of the company and its A mission strategic intent B vision strategic intent C vision operational goals D mission tactical goals E None of the above is correct 4 Developing a competitive advantage depends upon A strong financial backing of stakeholders B securing exclusive rights to technological applications C developing a corporate level strategy D identifying core competencies E All of the above are correct 5 Identification of the set of businesses markets or industries in which an organization is to compete is referred to as a strategy A business B industry C portfolio D functional E corporate 6 The outcome of situational analysis is A the identification of alternative plans of action B the identification of contingency plans to be followed under various scenarios C the identification of planning assumptions issues and problems D the identification of the consequences of those alternatives under consideration E None of the above is correct 7 If expansion to Australia does not materialize Widget Inc s backup plan is to expand to Asia This backup plan is an example of a plan A strategic B single use C contingency D standing E trial and error 8 Which are examples of strategic goals A production scheduling training of personnel accounting procedures and updating equipment used B profit levels share value growth return on investment and societal impact C advertising expenditures sales levels product use innovations and customer feedback levels D absenteeism levels benefit usage and value human resource utilization and compliance with civil rights laws E All of the above are correct 9 An organization s strategic operational and tactical goals must be A aligned B consistent C mutually supportive D focused on company purpose E All of the above are correct 10 To be children s and young adults best quick service restaurant experience is an example of a n A vision statement B mission statement C tactical goal D operational goal E idea