FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 2: The Business Vision and Mission

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 1

True/False

Review LaterAdd Note

Review Later

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.

Correct Answer

verified

Show Answer

Question 2

True/False

Review LaterAdd Note

Review Later

In order to motivate a workforce effectively,both profit and vision are needed.

Correct Answer

verified

Show Answer

Question 3

True/False

Review LaterAdd Note

A mission statement is a declaration of an organization's financial status.

List the two major characteristics of an effective mission statement.

A mission statement promotes a sense of shared expectations among all levels and generations of employees.

Which component of a mission statement addresses the basic beliefs,values,aspirations,and ethical priorities of the firm?

What is the best time to develop a mission statement?

According to Vern McGinnis,an effective mission statement should define what the organization is and what the organization aspires to be.

Business Week reports that firms using mission statements have a ________ percent higher return on certain financial measures than those without such statements.

A sense of self-concept is one of the nine components a good mission statement should include.

The mission statement should be short - preferably one sentence.

A good mission statement effectively reflects the anticipations of customers and reveals the utility that various products or services offer customers.Give three examples of this.

When developing a mission statement,it is usually advisable to involve as few managers as possible.

Which component of a mission statement addresses the firm's distinctive competence or major competitive advantage?

Good mission statements identify the utility of a firm's products to its customers.

In order to appeal to its diverse stakeholders,an effective mission statement should be

The purpose of a mission statement is to declare all of these except

Who is referred to as "the father of modern management?"

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.

According to Campbell and Yeung,an organization's vision is associated with behavior and with the present.