Strategic Management David - Chapter 2

Strategic Management David - Chapter 2 - 1 Most...

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1. Most practitioners and academicians of strategic management feel that an effective mission statement exhibits ______ characteristics or components. o five o twelve o nine o three 2. Carefully prepared _____________ and ____________ are widely recognized by both practitioners and academicians as the first step in strategic management. o long-term objectives; goals o vision statements; mission statements o short-term objectives; long-term objectives o creeds; long-term objectives 3. The vision and mission statement can often be found: o in the SEC report. o in a competitive market analysis. o on the front of annual reports. o on supplier invoices. 4. It is important to involve ______________ in the process of developing a mission statement.
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o as many managers as possible o very few people to ease consensus-building o as wide a variety of upper-level managers as possible o only those managers who will use the mission 5. An article by Campbell and Yueng emphasizes that the process of developing a mission statement should create a (n) ________ and ________ between the organization and its employees.
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