LS125 - LT1 - Chapter 2
A mission statement is usually just a simple statement of specific beliefs.
FALSE
According to Campbell and Yeung, an organization's vision is associated with behavior and with the present.
FALSE
According to Peter Drucker, asking the question "What is our business?" is synonymous with asking the question "What is our vision?"
FALSE
Although it is important for companies to have a clearly defined mission statement, research has shown that less than 50% of all companies have used a mission statement in the previous five years.
FALSE
Mission statements should always be stated with a high level of specificity.
FALSE
Stakeholders of an organization include stockholders, customers and creditors, but not competitors.
FALSE
The mission statement should be short - preferably one sentence.
FALSE
According to Drucker, the most important time for a company to develop mission and vision statements is when the company is experiencing financial difficulty.
FALSE (WHY?)
The first step in the process of developing a mission statement is to ask all participants to prepare what they believe the organization's mission should be.
FALSE (What is it?)
A mission statement can sometimes be called a statement of philosophy.
TRUE
A mission statement, sometimes called a creed statement, can be defined as an enduring statement of purpose that distinguishes one organization from other similar enterprises.
TRUE
According to Campbell and Yeung, the process of developing a mission statement should create an "emotional bond" and "sense of mission" between the organization and its employees.
TRUE
According to King and Cleland, carefully developed and written mission statements ensure unanimity of purpose within the organization.
TRUE
According to Vern McGinnis, an effective mission statement should define what the organization is and what the organization aspires to be.
TRUE
An effective mission statement generates the impression a firm is successful, has direction, and is worthy of time, support and investment.
TRUE
Attracting customers is a major reason for developing a mission statement.
TRUE
Having a clear mission and vision can provide a basis for a company's internal and external assessment.
TRUE
In order to motivate a workforce effectively, both profit and vision are needed.
TRUE