Capstone Chap.2 The Business Vision and Mission

11) According to Campbell and Yeung, what is/are most likely associated with behavior and the present? A) Mission B) Values C) Long-term objectives D) Vision E) Possibilities

A

13) 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.

A

15) Raising the question "What is our business" may cause a realization of fundamental disagreement among individuals who have worked together for a long time and who think they know each other.

A

16) All stakeholders' claims on an organization ________ pursued with equal emphasis. A) cannot be B) should always be C) are required to be D) must ideally be E) can usually be

A

17) All stakeholders A) have claims and concerns about an organization, but these claims and concerns vary. B) have the same claims and concerns about an organization. C) have ownership rights in an organization. D) have the same voting rights in an organization. E) have environmental concerns as their top priority.

A

20) An overly general mission statement that ________ could be dysfunctional. A) does not exclude any strategy alternatives B) encourages management creativity C) excludes all diversification D) endorses the consideration of feasible potential strategies E) allows for the generation and consideration of a range of alternative objectives

A

24) According to McGinnis, a mission statement should be all of the following EXCEPT A) it should be broad enough to include all ventures. B) it should be stated in clear terms. C) it should distinguish an organization from all others. D) it should define what an organization is. E) it should serve as a framework for evaluating both current and prospective activities.

A

31) Which of the following is NOT one of the nine recommended components of a mission statement? A) Strategies B) Self-concept C) Employees D) Markets E) Customers

A

7) According to Drucker, which question is synonymous with asking "What is our mission?"? A) What is our business? B) How can we improve ourselves? C) What do we want to become? D) Who are our stakeholders? E) How can we increase profitability?

A

8) A mission statement can sometimes be called a statement of philosophy

A

14) According to Drucker, what is the best time to ask "What do we want to become?" and "What is our business?"? A) When a firm is in decline B) When the firm is successful C) When the firm is in financial trouble D) When the firm is in legal trouble E) When the firm encounters competition

B

18) A good mission statement has A) an employee orientation. B) a customer orientation. C) a shareholder orientation. D) an environmental orientation. E) a profit orientation.

B

2) Which type of statement should be created first and foremost? A) Creed B) Vision C) Objectives D) Mission E) Competitive advantage

B

27) According to George Steiner, vagueness has no place in a good mission statement.

B

28) A mission statement is excessively broad if it represents an attempt to reconcile differences among an organization's various stakeholders.

B

30) Which component of a mission statement addresses the basic beliefs, values, aspirations, and ethical priorities of the firm? A) Technology B) Philosophy C) Concern for public image D) Customers E) Self-concept

B

5) If an organization chooses to have both a mission and a vision, the mission statement should be established first

B

23) In developing a mission statement, arousing emotion A) is not a benefit. B) is futile. C) is important. D) should be avoided if possible. E) is counterproductive

C

25) The recommended length of an effective mission statement is ________ words. A) approximately 25 B) no more than 100 C) less than 150 D) at least 300 E) more than 500

C

26) What question is asked in conjunction with the philosophy component of a mission statement? A) What are the firm's major products or services? B) Is the firm committed to growth and financial soundness? C) What are the basic beliefs, values, aspirations, and ethical priorities of the firm? D) Is the firm responsive to social, community, and environmental concerns? E) Are employees a valuable asset of the firm?

C

3) The ideal length of a vision statement is A) one page. B) several paragraphs. C) one sentence. D) several sentences. E) as long as is necessary to convey the message.

C

4) Which basic question should the vision statement answer? A) What is our business? B) How can we improve ourselves? C) What do we want to become? D) Who are our stakeholders? E) How can we increase profitability?

C

6) Who is referred to as "the father of modern management"? A) Cleland B) Campbell C) Drucker D) McGinnis E) Yeung

C

1) Which statement is TRUE? A) Companies must choose between having a mission statement or a vision statement. B) A company can't have a mission statement unless it has a vision statement. C) A vision statement cannot be established until a company has developed its mission statement. D) The vision statement should be established before the mission statement. E) Companies are required by law to have both mission and vision statements.

D

19) The potential for creative growth in an organization can be limited by A) an overemphasis on stakeholders. B) not enough emphasis on stakeholders. C) a mission statement that is too general. D) a mission statement that is too specific. E) a mission statement that is too dynamic.

D

22) In order to appeal to diverse stakeholders, an effective mission statement should be A) inflammatory. B) provocative. C) contentious. D) reconciliatory. E) dysfunctional.

D

10) A(n) ________ with expertise in developing vision and mission statements and with unbiased views, can at times manage the process more effectively than an internal group or committee of managers. A) external group B) external auditor C) outside process analyst D) internal auditor E) outside facilitator

E

21) The general public is especially interested in ________, whereas stockholders are more interested in ________. A) environmental concerns; social responsibility B) social responsibility; the treatment of employees C) the treatment of employees; environmental concerns D) profitability; social responsibility E) social responsibility; profitability

E

29) Which component of a mission statement addresses the firm's distinctive competence or major competitive advantage? A) Technology B) Philosophy C) Concern for public image D) Customers E) Self-concept

E

9) After a draft mission statement has been developed, it is important to A) ask managers to read several articles about mission statements as background information. B) vote on the mission statement. C) ask managers to prepare a mission statement for the organization. D) ask managers to seek support for the mission statement from their subordinates. E) request modifications, additions, and deletions.

E