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Self Quiz
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1

Planning is a goal-making process, but it is not a strategy-making process.
A)True
B)False
2

Goals should be challenging for managers, but the also need to be realistic and achievable.
A)True
B)False
3

The last step in strategy formulation is to do a SWOT analysis.
A)True
B)False
4

Global strategies have a cost advantage because they do not require producing customized products.
A)True
B)False
5

A planning process entails much more than simply identifying strategies.
A)True
B)False
6

Top management's decisions about the company's mission and overall strategy are contained in which type of plan?
A)Division-level plan
B)Business-level plan
C)Corporate-level plan
D)Functional-level plan
7

Setting the organization's mission and goals is what step of the planning process?
A)second
B)third
C)first
D)last
8

In terms of a SWOT analysis, when an organization is considering diversifying into a new type of business, this represents a(n) _______ for the organization.
A)opportunity
B)threat
C)strength
D)weakness
9

When PepsiCo expanded into the fast-food business by purchasing KFC, this was an example of:
A)exporting.
B)importing.
C)a low-cost strategy.
D)diversification.
10

When a company sets specific dates for the completion of important steps in a project, this is an example of:
A)establishing a timetable.
B)writing detailed action plans.
C)holding specific managers responsible for implementation.
D)allocating needed resources.





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