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Mixed Quiz
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1

Long-term objectives translate short-range aspirations into this year's targets for action.
A)True
B)False
2

The mission statement can empower the "doers" in an organization by reducing the time required to decide and act.
A)True
B)False
3

A benefit of short-term objectives and action plans comes from the process of developing them.
A)True
B)False
4

Functional tactics are different from business or corporate strategies in their lack of specificity.
A)True
B)False
5

Functional tactics are directives designed to guide the thinking, decisions, and actions of managers and their subordinates in implementing a firm's strategy.
A)True
B)False
6

___________ translate business strategy into daily activities people need to execute.
A)Mission statements
B)Policies
C)Functional tactics
D)Goals
7

Which of the following "operationalize" long-term objectives?
A)Business strategies
B)Corporate strategies
C)Short-term objectives
D)Mission statements
8

Short-term objectives are usually accompanied by
A)action plans
B)long-term objectives
C)policies
D)functional tactics
9

"To improve support of the sales effort" is an example of a deficient objective because it is not
A)ambitious
B)noble
C)measurable
D)challenging
10

Which of the following is NOT a quality of effective short-term objectives?
A)Measurable
B)Priorities
C)Linked to the mission statement
D)Linked to long-term objectives
11

One benefit of short-term objectives and action plans is that they give operating personnel a better understanding of their role in the firm's
A)competition
B)industry
C)market
D)mission
12

One benefit of short-term objectives and action plans is that they provide a
A)basis for formulating strategy
B)basis for strategic control
C)basis for competitive action
D)basis for employee compensation
13

________ identify activities to be undertaken "now" or in the immediate future.
A)Mission statements
B)Objectives
C)Functional tactics
D)Goals
14

Functional tactics are different from business or corporate strategies in
A)time horizon
B)specificity
C)participants who develop them
D)all of the above
15

Policies establish ________ control over independent action.
A)direct
B)indirect
C)external
D)internal
16

Policies ________ uncertainty in repetitive and day-to-day decision making.
A)increase
B)reduce
C)maintain
D)avoid
17

The goal of an executive bonus compensation plan is to motivate executives to achieve maximization of
A)market share
B)dividends
C)shareholder wealth
D)all of the above
18

Stock options provide the executive with the right to purchase company stock at a ____ price in the future.
A)lower
B)higher
C)market
D)fixed
19

Under which bonus compensation plan is the executive prohibited from selling the shares for a specified time period?
A)Golden parachute
B)Stock options
C)Restricted stock
D)None of the above
20

Golden handcuffs are similar to
A)golden parachutes
B)restricted stock
C)stock options
D)cash





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