Exam 1 Review

In: Business and Management

Submitted By fleon85
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Mid-Term Exam – Review Questions
1) All of these are pitfalls an organization should avoid in strategic planning EXCEPT (Ch. 1)
Some pitfalls to watch for and avoid in strategic planning are these:
 Using strategic planning to gain control over decisions and resources
 Doing strategic planning only to satisfy accreditation or regulatory requeriments
 Too hastily moving from mission development to strategy formulation
 Failing to communicate the plan to employees, who continue working in the dark
 Top managers making many intuitive decisions that conflict with the formal plan
 Top managers not actively supporting the strategic-planning process
 Failing to use plans as a standard for measuring performance
 Delegating planning to a “planner” rather than involving all managers
 Failing to involve key employees in all phases of planning
 Failing to create a collaborative climate supportive of change
 Viewing planning as unnecessary or unimportant
 Becoming so engrossed in current problems that insufficient or no planning is done
 Being so formal in planning that flexibility and creativity are stifled
2) The strategic-management process represents a(n) logical , systematic , and objective approach for determining an enterprise's future direction.
3) Strategic Management is used to refer to strategic formulation, implementation and evaluation, with strategic planing referring only to strategic formulation.
4) Which statement best describes intuition? Ch.1 Pag. 7 or 8
It should be coupled with analysis in decision-making.
5) The act of strengthening employees' sense of effectiveness by encouraging and rewarding them for participating in decision-making and exercising initiative and imagination is referred to as empowerment.
6) The first step in strategic planning is generally developing a vision statement.
7) According to…...

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