MGT 521 Week 2 Knowledge Check

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MGT 521 Entire Course Link
https://uopcourses.com/category/mgt-521/
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MGT 521
Week 2 Knowledge Check


The material presented below is not meant
to be a comprehensive list of all you need to know in the content area. Rather
it is a starting point for building your knowledge and skills. Additional study
materials are recommended in each area below to help you master the material.

Personalized Study Guide Results: 

Score: 12 / 12





Concepts


Mastery


Questions





Strategies for SWOT Analyses


100%


·        
1
·        
2
·        
3




Strategic and Operational Plans


100%


·        
4
·        
5
·        
6




Differentiate Between Goals and Plans


100%


·        
7
·        
8
·        
9




Examples of Contingency Factors in Planning


100%


·        
10
·        
11
·        
12




Concept: Strategies
for SWOT Analyses





Mastery :


100%


Questions :


·        
1
·        
2
·        
3




Materials on the
concept:


·   
Strategic Management

·   
Step 3: Doing an Internal Analysis

·   
The Strategic Management Process

·   
Step 2: Doing an External Analysis



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1.

As a process of self-examination during
her senior year of college, Casey decides to develop a SWOT analysis of her
prospects relative to getting a job. Casey realizes that she has a personal
characteristic that suggests she is not comfortable interacting with strangers.
She interprets this as a(n) ________ if she is to get a job as a salesperson.

·        
A.

threat

·        
B.

strength

·        
C.

weakness

·        
D.

opportunity



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2.

Casey is looking for a new job. She
decides to develop a SWOT analysis of the industries she might want to work in.
Casey majored in marketing and enjoyed studying market research. Through her
research on the Internet and in the University Library, she learns that this
industry is currently doing well. She interprets this as a(n) ________.

·        
A.

weakness

·        
B.

threat

·        
C.

strength

·        
D.

opportunity



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3.

In performing a SWOT analysis, which of
the following would be considered as a threat?

·        
A.

Lack of a strategic plan

·        
B.

Increased product demand

·        
C.

Competitors

·        
D.

Recognized brand



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Concept: Strategic
and Operational Plans





Mastery :


100%


Questions :


·        
4
·        
5
·        
6




Materials on the
concept:


·   
Types of Plans

·   
Foundations of Planning

·   
Goals and Plans

·   
Strategic Management

·   
Five Forces Model

Show More



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4.

Strategic plans are usually ________.

·        
A.

short term, directional, and standing

·        
B.

short term, specific, and standing

·        
C.

long term, directional, and single use

·        
D.

long term, specific, and standing



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5.

Operational plans are usually ________.

·        
A.

short term, directional, and standing

·        
B.

short term, specific, and standing

·        
C.

long term, directional, and single use

·        
D.

long term, specific, and standing



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6.

When organizations think about entering a
market, they may be concerned with how unique their product might be. Which of
Porter’s Five Forces would be relevant in this case?

·        
A.

Threat of new entrants

·        
B.

Bargaining power of suppliers

·        
C.

Current rivalry

·        
D.

Threat of substitutes



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Concept: Differentiate
Between Goals and Plans





Mastery :


100%


Questions :


·        
7
·        
8
·        
9




Materials on the
concept:


·   
Foundations of Planning

·   
The What and Why of Planning

·   
What Is Planning?

·   
Goals and Plans

·   
Types of Goals



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7.

________ involves defining the
organization’s goals, establishing strategies for achieving those goals, and
developing plans to integrate and coordinate work activities.

·        
A.

Execution

·        
B.

Logistics

·        
C.

Planning

·        
D.

Operations



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8.

Goals are different from plans because
________.

·        
A.

goals identify specific steps that the
organization needs to achieve, and plans identify the overall mission of the
organization

·        
B.

goals describe financial objectives, and
plans describe objectives related to social responsibility

·        
C.

goals are important only for small
companies, and plans are important only for large companies

·        
D.

goals are desired outcomes, and plans
describe how those outcomes will be accomplished



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9.

Most company goals can be classified as
either ________ or ________.

·        
A.

operational; tactical

·        
B.

social; economic

·        
C.

strategic; financial

·        
D.

strategic; operational



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Concept: Examples
of Contingency Factors in Planning





Mastery :


100%


Questions :


·        
10
·        
11
·        
12




Materials on the
concept:


·   
Foundations of Planning

·   
Developing Plans

·   
Contingency Factors in Planning

·   
How Can Managers Use Environmental Scanning?

·   
Contemporary Issues in Planning



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10.

In response to a natural disaster, which
contingency factor will affect the choice of plans?

·        
A.

Commitment concept

·        
B.

Environmental uncertainty

·        
C.

Organizational level

·        
D.

Length of future commitments



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11.

What technique would managers use when
seeking to detect big trends and changing market conditions?

·        
A.

Benchmarking

·        
B.

Formal planning

·        
C.

Contingency planning

·        
D.

Environmental scanning



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12.

The commitment concept says that plans
should ________.

·        
A.

be done for as long a time period as
possible

·        
B.

extend far enough to meet those
commitments made when the plans were developed

·        
C.

be done for as short a time period as
possible

·        
D.

not commit to specifically meeting the
goals made when the plans were developed
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