Mgmt 3013: Oklahoma State University
Exam 2 Questions and Answers 100%
Pass
Planning - ✔✔Coping with uncertainty and making future actions to achieve results;
setting goals and deciding how to achieve them.
Business Plan - ✔✔Starting a plan; document that outlines a proposed firms' goal, the
strategy for achieving them and standards for measurement.
Business Model - ✔✔Outlines the need the firm will fill, operates the business, it's
components and functions, and expected revenues and expenses.
Strategy - ✔✔Over all guiding; Large- scale plan that sets the direction for an
organization; educated guess about what must be done long term
Strategic Management - ✔✔Incorporating managers from all levels of the organization
in the formulation and cooperation of the organizations strategy; Engaging with first
line managers and top managers helps the organization because they can see what is
realistic or feasible
Brittie Donald, All Rights Reserved © 2025 1
, Why planning and strategic management are important- - ✔✔Provide direction and
momentum, encourage new ideas, develop a sustainable competitive advantage.
Mission statement - ✔✔"what is our reason for being" "description of product/ service
and why it's offered" Purpose of organization.
Vision statement - ✔✔"What do we want to become?" What the organization should
become, where it wants to go strategically.
Strategic Planning - ✔✔Top managers for next 5-10 yrs.- Goals- Action Plans- Top
managers determine what the organization's long-term goals should be for the next 5-10
yrs, with the resources they expect to have available.
Tactical planning - ✔✔"Done by middle managers for the next 6-24 mo.- Goals- Action
Plans- How to get cusomers to make better purchasing decisions
Operational planning - ✔✔"Done by first line managers for 1-52 wks." How to
accomplish specific tasks with available resources.
Top management - ✔✔Chief executive officer, president, vice president, general
managers, division heads. 1-5 yrs; Long term, future oriented, pay attention to
environment outside the organization.
Middle management - ✔✔Functional managers, product-line managers, department
managers. 6-24 mo. Implement policies of top management and coordinate activities of
Brittie Donald, All Rights Reserved © 2025 2
Exam 2 Questions and Answers 100%
Pass
Planning - ✔✔Coping with uncertainty and making future actions to achieve results;
setting goals and deciding how to achieve them.
Business Plan - ✔✔Starting a plan; document that outlines a proposed firms' goal, the
strategy for achieving them and standards for measurement.
Business Model - ✔✔Outlines the need the firm will fill, operates the business, it's
components and functions, and expected revenues and expenses.
Strategy - ✔✔Over all guiding; Large- scale plan that sets the direction for an
organization; educated guess about what must be done long term
Strategic Management - ✔✔Incorporating managers from all levels of the organization
in the formulation and cooperation of the organizations strategy; Engaging with first
line managers and top managers helps the organization because they can see what is
realistic or feasible
Brittie Donald, All Rights Reserved © 2025 1
, Why planning and strategic management are important- - ✔✔Provide direction and
momentum, encourage new ideas, develop a sustainable competitive advantage.
Mission statement - ✔✔"what is our reason for being" "description of product/ service
and why it's offered" Purpose of organization.
Vision statement - ✔✔"What do we want to become?" What the organization should
become, where it wants to go strategically.
Strategic Planning - ✔✔Top managers for next 5-10 yrs.- Goals- Action Plans- Top
managers determine what the organization's long-term goals should be for the next 5-10
yrs, with the resources they expect to have available.
Tactical planning - ✔✔"Done by middle managers for the next 6-24 mo.- Goals- Action
Plans- How to get cusomers to make better purchasing decisions
Operational planning - ✔✔"Done by first line managers for 1-52 wks." How to
accomplish specific tasks with available resources.
Top management - ✔✔Chief executive officer, president, vice president, general
managers, division heads. 1-5 yrs; Long term, future oriented, pay attention to
environment outside the organization.
Middle management - ✔✔Functional managers, product-line managers, department
managers. 6-24 mo. Implement policies of top management and coordinate activities of
Brittie Donald, All Rights Reserved © 2025 2
