Quiz 2

7. Which of the following best represents a product-oriented vision statement? A. "To be the world's most loved, most efficient, and most profitable airline."- Southwest B. "Transportation as reliable as running water, everywhere for everyone."- Uber C. "To give people the power to build community and bring the world closer together."- Facebook D. "We believe in free expression and think every voice has the power to impact the world."- Twitter

A. "To be the world's most loved, most efficient, and most profitable airline."- Southwest

3. The mission statement of a typewriter manufacturing company is- "A typewriter in every office." What is wrong with this mission statement? A. It is too specific. B. It does not indicate how the company will achieve its goal. C. It is not future-oriented. D. It is not visionary.

B. It does not indicate how the company will achieve its goal.

5. Google states: "Google will redefine the search engine industry by organizing information and making it accessible and useful universally." This is an example of a A. Vision statement B. Mission statement C. Value

B. Mission Statement

2. Which of the following is true regarding vision statements? A. Vision statements are more specific than mission statements B. Vision statements are more general than mission statements C. Vision statements are short-term as compared to mission statements D. Employees play an important role in formulating a vision statement

B. Vision statements are more general than mission statements.

6. Which of the following best represents a customer-oriented vision statement? A. "To be the fastest airline in the world." B. "We are in the computing business." C. "Education for all children in the nation." D. "To create great-tasting beverages."

C. "Education for all children in the nation."

8. A technology company is operating in a highly volatile environment with new players entering into the market, changing customers' tastes and preferences, and the government formulating new laws regularly. Which of the following strategy plans might not be suitable for such a company? A. Scenario planning B. Strategy as planned emergence C. Strategic planning

C. Strategic planning

4. Jeff Bezos, Founder and Ex-CEO of Amazon, named the company 'Amazon' after Amazon river, the largest river on the planet, as he wanted to make the company earth's largest bookstore. This example can be best stated as the strategic leaders' first step towards deciding A. the mission of the company B. organizational value C. the vision of the company

C. The vision of the company

1. ________ are considered the ethical standards and norms that govern the behavior of individuals within a firm. A. Vision Statements B. Mission Statements C. Values

C. Values

10. John and Jackie are working in the advertising department of a company as a manager and lead, respectively. They have both been asked by the top managers to create two different advertisements for a new product that will be launched next month, one emphasizing the quality of the product and the other on the price. This strategic decision-making technique represents A. devil's advocacy B. dialectic inquiry

NOT A. Devil's Advocacy

9. A traditional top-down strategic planning process typically begins with A. strategic leaders adjusting a company's vision and mission based on environmental analysis. B. employees who have close contact with customers taking autonomous actions. C. functional managers formulating functional strategies for their respective departments. D. employees at the operational level identifying problems within an organization.

NOT A. strategic leaders adjusting a company's vision and mission based on environmental analysis.