MAN2021 Midterm Review Questions
And Correct Answers.
Goal - Answer Desired future state that the organization attempts to realize
Plan - Answer Blueprint for goal achievement and specifies the necessary resource allocations,
schedules, tasks and other actions
Organizational Planning Process - Answer 1. Develop the Plan 2. Translate the plan 3. Plan
operations 4. Execute the plan 5. Monitor and Learn
Organizational Mission - Answer the organization's reason for existence
Strategic goals - Answer official goals, broad statements describing the organizations future
Strategic plans - Answer define the action steps the company will take
Operational Planning - Answer Direct employees and resources, and guide toward efficient
and effective performance
Planning approaches - Answer Management-By-Objectives (MBO), single use plans, standing
plans
Effective goal characteristics - Answer are specific and measurable, have a definite time
period, cover key result areas, are challenging but realistic, and are linked to rewards
Model of the MBO process - Answer Defined by Peter Drucker 1954, method for defining goals
and monitoring performance: Step 1- set goals Step 2- develop action plans Step 3- Review
Progress Step 4- Appraise overall performance
Single use Plans - Answer achieve one time goals; programs and projects
Standing Plans - Answer ongoing plans; policies, rules, procedures
Planning for a turbulent environment - Answer Contingency planning, building scenarios, crisis
planning
,Contingency Planning - Answer planning for emergencies, setbacks, or unexpected conditions
Building Scenarios - Answer forecasting technique to look at current trends and discontinuities
and visualize future possibilities
Crisis Planning - Answer unexpected events that are sudden and devastating
Stretch goals - Answer set for highly ambitious goals requiring innovation
Strategic management - Answer specific type of planning; decisions and actions used to
formulate and execute strategies that will provide competitively superior fit between the
organization and its environment to achieve organizational goals
Thinking Strategically - Answer long-term view of organization and competition, impacts
performance and financial success, required in today's environment
Competitive advantage - Answer the organization's distinctive edge for meeting customer
needs
Strategies - Answer should exploit core competencies, build synergy, deliver value and target
customers
SWOT analysis - Answer internal Strengths and Weaknesses, external Opportunities and
Threats
The BCG Matrix - Answer organizes business by business growth rate and market share;
high/low market share and high/low business growth
Decision making - Answer the process of identifying opportunities
Decision - Answer choice made from available alternatives
Programmed Decisions - Answer recurring problems, apply rule
Nonprogrammed decisions - Answer unique situations, poorly defined, unstructured,
important consequences
Certainty - Answer situation in which all information is fully available
, Risk - Answer future outcomes associated with an alternative are subject to chance
Uncertainty - Answer depends on the amount and value of information available
Ambiguity - Answer the goals and the problem are unclear; making decisions in difficult
situations
Wicked decisions - Answer involve conflict over goals and have changing circumstances, fuzzy
information, and unclear links (often no
"right" answer)
Ideal, Rational Model - Answer rational economic assumptions drive decisions
Bounded rationality - Answer people have limits or boundaries on how rational they can be
Satisficing - Answer decision makers choose the first solution that satisfies minimal criteria
Intuition - Answer quick apprehension of situation based on practice and experience
Administrative model - Answer goals are often vague, rational procedures are not always used,
managers' searches for alternatives are limited, most managers settle for satisficing
Political model - Answer decisions involve managers with diverse interests, managers must
engage in coalition building, information is ambiguous and incomplete, decisions are result of
bargaining and discussion among coalition members
Decision making steps - Answer recognition of decision requirement, diagnosis and analysis,
develop alternatives, selection of desired alternative, implementation of chosen alternative,
evaluation and feedback
Directive style - Answer people who prefer simple, clear-cut solutions to problems
Analytic style - Answer managers prefer complex solutions based on a lot of data
Conceptual style - Answer managers like a broad amount of information
And Correct Answers.
Goal - Answer Desired future state that the organization attempts to realize
Plan - Answer Blueprint for goal achievement and specifies the necessary resource allocations,
schedules, tasks and other actions
Organizational Planning Process - Answer 1. Develop the Plan 2. Translate the plan 3. Plan
operations 4. Execute the plan 5. Monitor and Learn
Organizational Mission - Answer the organization's reason for existence
Strategic goals - Answer official goals, broad statements describing the organizations future
Strategic plans - Answer define the action steps the company will take
Operational Planning - Answer Direct employees and resources, and guide toward efficient
and effective performance
Planning approaches - Answer Management-By-Objectives (MBO), single use plans, standing
plans
Effective goal characteristics - Answer are specific and measurable, have a definite time
period, cover key result areas, are challenging but realistic, and are linked to rewards
Model of the MBO process - Answer Defined by Peter Drucker 1954, method for defining goals
and monitoring performance: Step 1- set goals Step 2- develop action plans Step 3- Review
Progress Step 4- Appraise overall performance
Single use Plans - Answer achieve one time goals; programs and projects
Standing Plans - Answer ongoing plans; policies, rules, procedures
Planning for a turbulent environment - Answer Contingency planning, building scenarios, crisis
planning
,Contingency Planning - Answer planning for emergencies, setbacks, or unexpected conditions
Building Scenarios - Answer forecasting technique to look at current trends and discontinuities
and visualize future possibilities
Crisis Planning - Answer unexpected events that are sudden and devastating
Stretch goals - Answer set for highly ambitious goals requiring innovation
Strategic management - Answer specific type of planning; decisions and actions used to
formulate and execute strategies that will provide competitively superior fit between the
organization and its environment to achieve organizational goals
Thinking Strategically - Answer long-term view of organization and competition, impacts
performance and financial success, required in today's environment
Competitive advantage - Answer the organization's distinctive edge for meeting customer
needs
Strategies - Answer should exploit core competencies, build synergy, deliver value and target
customers
SWOT analysis - Answer internal Strengths and Weaknesses, external Opportunities and
Threats
The BCG Matrix - Answer organizes business by business growth rate and market share;
high/low market share and high/low business growth
Decision making - Answer the process of identifying opportunities
Decision - Answer choice made from available alternatives
Programmed Decisions - Answer recurring problems, apply rule
Nonprogrammed decisions - Answer unique situations, poorly defined, unstructured,
important consequences
Certainty - Answer situation in which all information is fully available
, Risk - Answer future outcomes associated with an alternative are subject to chance
Uncertainty - Answer depends on the amount and value of information available
Ambiguity - Answer the goals and the problem are unclear; making decisions in difficult
situations
Wicked decisions - Answer involve conflict over goals and have changing circumstances, fuzzy
information, and unclear links (often no
"right" answer)
Ideal, Rational Model - Answer rational economic assumptions drive decisions
Bounded rationality - Answer people have limits or boundaries on how rational they can be
Satisficing - Answer decision makers choose the first solution that satisfies minimal criteria
Intuition - Answer quick apprehension of situation based on practice and experience
Administrative model - Answer goals are often vague, rational procedures are not always used,
managers' searches for alternatives are limited, most managers settle for satisficing
Political model - Answer decisions involve managers with diverse interests, managers must
engage in coalition building, information is ambiguous and incomplete, decisions are result of
bargaining and discussion among coalition members
Decision making steps - Answer recognition of decision requirement, diagnosis and analysis,
develop alternatives, selection of desired alternative, implementation of chosen alternative,
evaluation and feedback
Directive style - Answer people who prefer simple, clear-cut solutions to problems
Analytic style - Answer managers prefer complex solutions based on a lot of data
Conceptual style - Answer managers like a broad amount of information
