chp2 - 1 Charting a company's future course begins with...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1. Charting a company's future course begins with senior management A) deciding what its aspirations are for the company's future profitability and the future well-being of shareholders. B) thinking strategically about the road ahead and drawing conclusions about "where do we go from here, what changes lie ahead in the business landscape, and what difference will these changes make to the company's present business." C) coming up with a catchy phrase or slogan that conveys to customers, investors, and employees how the company intends to be competitively successful. D) choosing what performance targets the company should to try to achieve and what the deadline is for achieving them. E) crafting a long-term strategic plan for the organization and deciding what actions to take to implement it. 2. For a company to have a strategically revealing mission statement, the statement should reveal A) what customer groups are being satisfied, what customer needs are being satisfied, and what stakeholder priorities are being met. B) what is being satisfied, how it is being satisfied, and why it is being satisfied. C) which industry or industries the company is in, the products it produces and markets, and the types of companies that it competes against. D) what the company's profit targets are, what products the company makes, and whether the company is fully integrated, partially integrated, or specialized. E) what is being satisfied, who is being satisfied, and what activities, technologies, and competencies the company employs in creating and delivering value to its customers. 3. Which of the following statements provides the best example of a business definition grounded in serving the needs of a narrow or specific customer group? A) Nike is in the footwear business. B) Royal Cruiselines is in the business of providing economical ship cruises in the Caribbean Ocean. C) Coca-Cola is in the beverage business. D) The U.S. Postal Service is in the business of providing global mail delivery services for all types of senders. E)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 07/03/2011 for the course ECON 101 taught by Professor Ramiz during the Spring '11 term at Abilene Christian University.

Page1 / 4

chp2 - 1 Charting a company's future course begins with...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online