A broad declaration of an organisation's overriding purpose is called
A. A mission
what is a mission?
A broad declaration of an organisation's purpose that identifies the organisation's products and customers and distinguishes the organisation from its competitors is a mission statement.
Which of the following types of managers are responsible for approving business- and functional level plans to ensure that they are consistent with the corporate plan?
B. Corporate level managers
who is responsible for corporate level planning?
in general, corporate-level planning is primarily the responsibility of top managers.
One way in which managers can try to create plans that have the four qualitites that Henri Fayol described is by utilising:
B. Scenario planning
What does Scenario or contingency planning involve?
Scenario planning involves the generation of multiple forecasts of future conditions followed by an analysis of how to respond effectively to each of those conditions (also called contingency planning).
Top management's decisions pertaining to the organisation's mission, overall strategy and structure is referred to as:
A. Corporate level plan
What does the corporate-level plain contain?
The corporate-level plan contains top management's decisions pertaining to the organisation's mission and goals, overall strategy, and structure.
Which type of managers supervise the various functions such as manufacturing, accounting and sales, within a division?
What does the business-level plan provide?
The business-level plan provides the framework within which functional managers devise their plans.
Which of the following control the various divisions of an organisation?
What does the corporate-level plan provide?
The corporate-level plan provides the framework within which divisional managers perform their planning function.
A planning exercise to identify strengths and weaknesses inside an organisation and opportunities and threats in the environment is called:
A. SWOT analysis
The Five Forces model was introduced by:
B. Michael Porter
What model helps managers isolate particular forces in the external environment that are portential threats?
A well-known model that helps managers isolate particular forces in the external environment that are potential threats is Michael Porter's five forces model.
Which of the following is the strategy of expanding operations into a new business or industry and producing new goods or services?
Expanding operations into a new business or industry and producing new goods or services is called?
A strategy that allows an organisation to create value by producing its own inputs or distributing and selling its own outputs is referred to as:
A. Vertical integration
What is vertical integration?
Vertical integration is the corporate-level strategy through which an organisation becomes involved in producing its own inputs (backward vertical integration) or distributing and selling its own outputs (forward vertical integration).
Which of the following is the process by which managers make specific organising choices that result in a particular kind of organisational structure?
D. Organisational design
What is organisational design?
Organisational design is the process by which managers make specific organising choices about tasks and job relationships that result in the construction of a particular organisational structure.
Most managers of large organisations choose which type of structure to create a series of business units to produce a specific kind of product for a specific kind of customer?
C. Divisional structure
What is common in divisional strucutures?
In divisional structures, each division is a collection of functions or departments that work together to produce the product.
Market strucutre is also called:
A. Customer structure
what are the characteristics of a market or customer structure?
To satisfy the needs of diverse customers, a company might adopt a market structure (also called a customer structure), which groups divisions according to the particular kinds of customers they serve.
Managers grouping people and resources in two ways simultaneously by function and by product is called: