1. Writing SMART goals (Connect, Perform)
1) Using your knowledge of SMART goals, select the best goal
a. I will hire some salespeople to help with the new product
b. After the new product is released, I will hire some new
c. I will hire three new salespeople prior to our next product
d. I will hire three new salespeople soon
2) Identify the problem with each of the following goals.
2. Complete the following exercise by choosing they key
|To buy a new set of Michelin tires and change the oil using
four quarts of 10W-30 oil in my car by September 15
|To erect a four-foot-high stone retaining wall around the outer
perimeter of the pool
1) Part of the planning process, this term refers to the
long-term approach an organizaton will take to achieve its goals
and secure its place within a competitive environment.
a. competitve advantage
c. core competence
2) Part of the strategy formulaton process, this technique helps
organizations identify their internal strengths and weaknesses as
well as their external opportunities and threats.
b. SWOT analysis
d. BCG matrix
3. Use your knowledge of strategic planning to select
the words or phrases that bes complete the following
1) A SWOT analysis, which takes place during strategy
________________, is an important part of the strategic planning
2) When referring to a AWOT analysis, the letter T stands for
______(1)_______, and it refers to factors that are ______(2)_____
to the organization.
(1) a. targets
4. Which of the following factors should be classified
as a strength for the team?
a. Several Giants players have had extraordinary seasons, but
now some of them are not playing as well as they did when they were
b. The Giants’ starting pitchers are exceptionally strong and
young and can potentially keep the Giants at the top of the league
for years to come
c. During the off season, the Los Angeles Dodgers signed players
whose skills match or exceed Giants players’ skills.
d. There are a number of free-agent outfielders who are
available for signing by the Giants this year. Many of them have
better statistics than the current team members.
5. Considering all of the factors listed in the
preceding SWOT analysis question, what strategy would make the most
sense for the Giantsin the upcoming season?
a. Assume that as the players age, they will continue to produce
at their current levels.
b. Sign a free-agent outfielder tobolster the current roster and
sign the young pitchers to long-term contract.
c. Trade the Giants’ young pitchers to another team for
minor-league prospects who aren’t ready for the major league.
d. Keep the Giant’s intact and do not hire any new players
beause the team was good enough to win the World Series.
Identify whether each statement in the following is true
|1. A company that creates a distinctive product is likely to
use a differentiation strategy
|2. Differentitation strategies increase competition because
they reduce customer loyalty
|3. A company that actively tries to become more efficient is
likely to be pursuing aa cost leadership strategy
1. The answer is option “c” – I will hire three new salespeople
prior to our next product release.
The objective or the goal here is specific i.e hiring of 3 new
salespeople. The goal is measurable i.e you want to hire 3 new
salespeople. It would have been unmeasurable if the goal had been i
want to hire many sales people or few sales people. The goal seems
to be attainable as hiring of 3 sales people can be done without
much difficulty. The goal is result oriented. You want to hire
salespeople prior to the next product release. The obvious desired
result is promotion, marketing and sales of the new product. The
goal is time bound – the time frame here is before the next product
2 (i) the goal of changing tyres and oil is not clearly result
oriented. It is specific – change of oil and tyres, which type of
oil and tyres. It is measurable in terms of 1 set of new tyres and
4 quarts of oil. It is time bound – by September 15. However it is
not clearly result oriented.
(ii) the goal of erecting 4 feet wall is specific and
measurable. But the problem is it is not time bound. The goal does
not state by when will the wall be erected.