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MGT 300 Exam 2 USM || QUESTIONS & ANSWERS 100% SOLVED!!
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  • MGT 300
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  • MGT 300

Planning correct answers - Allows organization to cope with uncertainty - Setting goals and how to achieve them Advantages of Planning correct answers - Gives direction - Helps you check on your progress of meeting goals - Helps you coordinate activities - Helps you cope with uncertainty - ...

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  • August 29, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • MGT 300
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MGT 300 Exam 2 USM || QUESTIONS & ANSWERS
100% SOLVED!!
Planning correct answers - Allows organization to cope with uncertainty
- Setting goals and how to achieve them

Advantages of Planning correct answers - Gives direction
- Helps you check on your progress of meeting goals
- Helps you coordinate activities
- Helps you cope with uncertainty
- Intensifies (focuses) work of employees

Disadvantages of Planning correct answers - Must set aside time to do it
- May have to make decisions without enough time to plan
- Planners can become too detached
- Gives a false sense of security

Specific
Measurable
Attainable
Results Oriented
Target Dates correct answers What is the meaning of SMART?

Strategic Goals correct answers Broad goal of organization and is set by top management

Tactical Goals correct answers How to go about meeting strategic goals. More practical and
set by middle managers.

Operational Goals correct answers Focus on short term issues. Set by lower level managers

Strategic Planning correct answers - Set by top management
- Long term decisions about overall direction of organization
- 1-5 years

Tactical Planning correct answers - Are the specific ways to carry out the strategic plan
- Generally are carried out over the next 6-24 months
- Carried out by middle management

Operational Planning correct answers - Determine how to accomplish tasks with available
resources over the next 1-52 weeks
- Carried out by firm line/lower level management

Four correct answers How many major goals does the USM strategic plan have?

USM Strategic Plan correct answers 1. A Climate for Academic Success
2. Connections with Community
3. Image Development
4. Healthy Minds, Bodies, and Campuses

, once a year correct answers USM Strategic Plan communicates results at least...

A Climate for Academic Success correct answers - Degrees Awarded
- Retention Rates

Connections with Community correct answers - Student Volunteer Hours
- Attendance at University Sponsored Events

Image Development correct answers - National Media Hits
- Membership in Alumni Association

Healthy Minds, Bodies, and Campuses correct answers - Employee Absenteeism
- Total Recycled Units

Operating Plan correct answers How you go about implementing action plan. Usually about 1
year in duration.

Standing Plan correct answers Plan developed for activities that occur repeatedly over a short
period of time

Single Use Plan correct answers Plan developed for 1 time

Contingency Plan correct answers Having an alternative course of action if first plan does not
work

Strategy correct answers Large scale action plan that sets direction for the organization

Strategic Management correct answers Process of implementing strategy.

Strategic Positioning correct answers What makes a company or organization different or
better

Internal correct answers Strengths - Internal or External?

Internal correct answers Weaknesses - Internal or External?

External correct answers Opportunities- Internal or External?

External correct answers Threats- Internal or External?

SWOT Analysis correct answers - Must understand your own business and the external
environment
- Must constantly scan the environment of both threats and opportunities

Porter's Competitive Strategies correct answers - Cost Leadership
- Differentiation
- Focus

Cost Leadership correct answers Keep costs at a minimum (Walmart and Target)

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