Ch 5

Question 1

Steps to developing a strategic plan

Answer 1

Write a mission statement
Identify core values
Asses company’s strengths and weaknesses
Establish goals
Develop plans

Question 2

S W O T analysis

Answer 2

Used to assess company’s environment

Question 3

S W O T

Answer 3

Strengths
Weaknesses
Opportunities
threats

Question 4

Types of plans

Answer 4

Strategic
Tactical
Operational

Question 5

Contingency planning

Answer 5

Identify aspects of the business most likely to be adversely affected by change

Question 6

Organizational structure activities

Answer 6

Job specialization
Departmentalization

Question 7

Matrix structure

Answer 7

Employees from various functional areas form teams to combine skills

Question 8

Leadership styles

Answer 8

Autocratic
Demo critic
laissez-faire

Question 9

Autocratic

Answer 9

Managers inform subordinates

Question 10

Democratic

Answer 10

Manages seek input from subordinates

Question 11

Laissez-faire

Answer 11

Subordinates have freedom to make their own decision

Question 12

Transactional leaders

Answer 12

Are considered the bad boss

Question 13

Transformational

Answer 13

Considered the good boss