UNLV MGT 301 Exam 2 Isbel UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Planing - CORRECT ANSWER - Setting goals and deciding how to achieve them
Strategy - CORRECT ANSWER - Sets the long-term goals and direction for an
organization
Strategic Management - CORRECT ANSWER - A process that involves managers from
all parts of the organization in the formulation and the implementation of strategies and strategic
goals
values statement - CORRECT ANSWER - Expresses what the company stands for, its
core priorities, the values its employees embody, and what its products contribute to the world
Organization's mission - CORRECT ANSWER - It's purpose or reason for being
Mission Statement - CORRECT ANSWER - Expresses the purpose of the organization
Vision - CORRECT ANSWER - A long-term goal describing "what" an organization
wants to become, it is a clear sense of the future and the actions needed to get there
Vision statement - CORRECT ANSWER - Expresses what the organization should
become, where it wants to go
goal or objective - CORRECT ANSWER - a specific commitment to achieve a measurable
result within a stated period of time
, Long-term goals - CORRECT ANSWER - Strategic goals. Goals that tend to span 1 to 5
years and focus on achieving the strategies identified in a company's strategic plan
Short-term goals - CORRECT ANSWER - Tactical goals or operational goals. Generally
span 12 months and are connected to strategic goals in a hierarchy known as a means-end chain
Means-end chain - CORRECT ANSWER - Shows how goals are connected or linked
across an organization
Operating plan - CORRECT ANSWER - A plan that "breaks long-term output into short-
term targets" or goals
Action plan - CORRECT ANSWER - Defines the course of action needed to achieve a
stated goal
Standing plans - CORRECT ANSWER - Plans developed for activities that occur
repeatedly over a period of time
Policy - CORRECT ANSWER - A standing plan that outlines the general response to a
designated problem or situation
Single-use plans - CORRECT ANSWER - Plans that developed for activities that are not
likely to be repeated in the future
Project - CORRECT ANSWER - A single-use plan of less scope and complexity than a
program
SMART goals - CORRECT ANSWER - Specific, Measurable, Attainable, Realistic,
Timely
ACTUAL Exam Questions and CORRECT
Answers
Planing - CORRECT ANSWER - Setting goals and deciding how to achieve them
Strategy - CORRECT ANSWER - Sets the long-term goals and direction for an
organization
Strategic Management - CORRECT ANSWER - A process that involves managers from
all parts of the organization in the formulation and the implementation of strategies and strategic
goals
values statement - CORRECT ANSWER - Expresses what the company stands for, its
core priorities, the values its employees embody, and what its products contribute to the world
Organization's mission - CORRECT ANSWER - It's purpose or reason for being
Mission Statement - CORRECT ANSWER - Expresses the purpose of the organization
Vision - CORRECT ANSWER - A long-term goal describing "what" an organization
wants to become, it is a clear sense of the future and the actions needed to get there
Vision statement - CORRECT ANSWER - Expresses what the organization should
become, where it wants to go
goal or objective - CORRECT ANSWER - a specific commitment to achieve a measurable
result within a stated period of time
, Long-term goals - CORRECT ANSWER - Strategic goals. Goals that tend to span 1 to 5
years and focus on achieving the strategies identified in a company's strategic plan
Short-term goals - CORRECT ANSWER - Tactical goals or operational goals. Generally
span 12 months and are connected to strategic goals in a hierarchy known as a means-end chain
Means-end chain - CORRECT ANSWER - Shows how goals are connected or linked
across an organization
Operating plan - CORRECT ANSWER - A plan that "breaks long-term output into short-
term targets" or goals
Action plan - CORRECT ANSWER - Defines the course of action needed to achieve a
stated goal
Standing plans - CORRECT ANSWER - Plans developed for activities that occur
repeatedly over a period of time
Policy - CORRECT ANSWER - A standing plan that outlines the general response to a
designated problem or situation
Single-use plans - CORRECT ANSWER - Plans that developed for activities that are not
likely to be repeated in the future
Project - CORRECT ANSWER - A single-use plan of less scope and complexity than a
program
SMART goals - CORRECT ANSWER - Specific, Measurable, Attainable, Realistic,
Timely
