MGMT3013 Exam 2 Questions and Answers 100% Pass

MGMT3013 Exam 2 Questions and Answers 100% Pass All 78 locations of Moviely Cinemas has a poster in the lobby that reads, "We want to become the epicenter for family entertainment that highlights creative talents and inspires the next generation of film legends." This is the vision statement for Moviely. - true A ________ expresses what the organization should become and where it wants to go strategically. - vision statement Mitski supervises the returns desk in a department store. Mitski has set a goal for the rest of the year of finishing her daily office work quicker so she can assist at the returns desk earlier in the morning. She knows this will improve customer service and also help decrease theft which will assist the company in achieving its goal of decreasing costs. Finishing her office work quicker represents a(n) ________ for Mitski. - operational goal After the manager and employee work together to set the employee's objectives, what is the next step of MBO? - The employee should develop an action plan for meeting the objectives 2Brittie Donald, All Rights Reserved © 2025 Fine Cuts has been manufacturing excellent cutlery for over 50 years. Management wants to hang a banner in the production facility with their mission statement. Which of the following statements would be on that banner? - "We will always provide the highest-quality cutlery at the lowest cost to our customers and always give honest, winning customer service, thereby earning a fair profit for our stakeholders." The key reasons that an organization should adopt planning and strategic management are to - provide direction and momentum, encourage new ideas, and develop a sustainable competitive advantage. When you encounter negative thoughts or sense that others are trying to elicit an emotional response from you, which key skill of being open-minded should you enact? - Watch for communication blocks A ________ is a document that outlines a proposed firm's goals, the strategy for achieving them, and the standards for measuring success, and a ________ outlines the need the firm will fill, the operations of the business, its components and functions, as well as the expected revenues and expenses. - Business plan; business model ________ designates how work units are going to optimize resources and make contributions over the next two years. - Tactical planning Once her team's goals were set, Alyssa asked each team member to come up with a(n) ________ to reach the goals. - action plan 3Brittie Donald, All Rights Reserved © 2025 A stability strategy is a grand strategy that involves little or no significant organizational change. For example, Two Become One is a jewelry store that sells only one type of item: engagement and wedding rings. The management of Two Become One does not plan to branch out into selling different types of jewelry; the company has a reputation for being the go-to store to purchase wedding rings, and it plans to maintain that strategy. - true Samir owns a dental practice, but business has slowed down significantly over the last six months. Which analysis would you recommend to Samir to help him determine whether his dental practice has competitive potential? - VRIO framework Higher-level corporate- and business-level strategies flow down