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True or False Quiz
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1
The process by which managers select goals and courses of action for the organization is called planning.
A)TRUE
B)FALSE
2
A business unit that competes in a distinct industry is called a division.
A)TRUE
B)FALSE
3
Functional level plans should be consistent with corporate plans.
A)TRUE
B)FALSE
4
Long-term plans typically have a one to five-year time span.
A)TRUE
B)FALSE
5
A long term plan is called a rolling plan because it is rolled out or implemented over the next few years.
A)TRUE
B)FALSE
6
Single-use plans are developed to handle programmed decisions.
A)TRUE
B)FALSE
7
A rule is a formal, written guide to action.
A)TRUE
B)FALSE
8
A vision statement and a mission statement are basically the same thing.
A)TRUE
B)FALSE
9
Evaluating the success of the strategy is the last step in the planning process.
A)TRUE
B)FALSE
10
A SWOT analysis is a tool used in the formulation of corporate-level strategy only.
A)TRUE
B)FALSE
11
Companies that produce a product with a known substitute can usually charge a premium price for their product.
A)TRUE
B)FALSE
12
Corporate-level planning indicates how a division intends to compete.
A)TRUE
B)FALSE
13
The typical research finding is that diversification strategies have increased value.
A)TRUE
B)FALSE
14
A focused low-cost strategy serves only one market segment and tries to be the lowest cost provider serving that segment.
A)TRUE
B)FALSE
15
Strategy implementation includes the allocation of resources needed to implement the strategy.
A)TRUE
B)FALSE





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