David - Chapter 2 - MC - Multiple Choice Questions DAVID...

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Multiple Choice Questions DAVID CHAPTER 2 The Business Vision and Mission Introduction 1. The vision and mission statement can often be found a) in the SEC report. b) in annual reports. c) on customer receipts. d) on supplier invoices. e) on community news bulletins. Ans: b Page: 56 2. Which of these basic questions should a vision statement answer? a) What is our business? b) Who are our employees? c) Why do we exist? d) What do we want to become? e) Who are our competitors? Ans: d Page: 56 3. Which statement should be created first and foremost? a) Strategic b) Vision c) Objectives d) Mission e) Competitive advantage Ans: b Page: 56 4. The ideal length of a vision statement is: a) one page. b) several paragraphs. c) one sentence. d) as long as necessary to convey the message. e) several sentences. Ans: c Page: 56 5. Who is referred to as “the father of modern management?” a) Deming b) Peters c) Drucker d) McGinnis e) Smith Ans: c Page: 59 6. What is the first step in the comprehensive strategic-management model? a) Developing vision and mission statements b) Performing external audits c) Performing internal audits d) Measuring and evaluating performance e) Establishing long-term objectives
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Ans: a Page 59 7. According to the comprehensive strategic-management model, which step needs to be completed immediately following the establishment of long-term objectives? a) Developing vision and mission statements b) Performing external audits c) Performing internal audits d) Generating, evaluating, and selecting strategies e) Measuring and evaluating performance Ans: d Page 59 8. The purpose of a mission statement is to declare all of these except: a) a reason for being. b) an annual financial plan. c) a statement of purpose. d) a statement of beliefs. e) whom it wants to serve. Ans: b Page: 59 9. As indicated in the strategic-management model, a clear _______ is needed before alternate strategies can be formulated and implemented. a)
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This note was uploaded on 05/30/2011 for the course MIM 1001 taught by Professor Fredser during the Spring '11 term at International University in Germany.

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David - Chapter 2 - MC - Multiple Choice Questions DAVID...

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