12e_TB_Chap_2

Strategic Management: Creating Competitive Advantages

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Chapter 02 - Company Mission Chapter 02 Company Mission Multiple Choice Questions 1. (p. 21) The unique purpose that sets a company apart from others of its type and identifies the scope of its operations. In product, market and technology terms is defined as the A. Adverse selection B. Company mission C. Moral hazard problem D. Vision statement Difficulty: Easy Learning Objective: 1 2. (p. 25) The company mission is a broadly framed but enduring statement of A. A firm's intent B. Corporate structure C. A firm's competitive positioning D. Stakeholder analysis Difficulty: Hard Learning Objective: 1 3. (p. 21) The mission: A. Sets policy B. Describes the firm's product C. Identifies stakeholders D. Creates the board of directors Difficulty: Medium Learning Objective: 1 2-1
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Chapter 02 - Company Mission 4. (p. 21) The mission reflects the: A. Values of the decision makers B. Goals of the decision makers C. Experiences of the decision makers D. Policies of firm Difficulty: Hard Learning Objective: 1 5. (p. 21) The company mission identifies the A. Key competitors in the marketplace B. Board of directors' responsibility towards the owners C. Specific strategies for gaining market share D. Scope of its operations in product and market firms Difficulty: Medium Learning Objective: 1 6. (p. 21) Which of these is NOT true about the company mission? A. It embodies the business philosophy of the firm's strategic decision makers B. It implies the image the firm seeks to project C. It provides specific strategies for front-line managers D. It reflects the firm's self-concept Difficulty: Hard Learning Objective: 1 7. (p. 21) The company mission reflects the firm's A. Vision B. Self-concept C. Corporate governance D. Agency costs Difficulty: Medium Learning Objective: 1 2-2
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Chapter 02 - Company Mission 8. (p. 21) Characteristically, the company mission is a statement of all of these EXCEPT A. Attitudes B. Outlooks C. Measurable targets D. Orientation Difficulty: Easy Learning Objective: 1 9. (p. 21) The mission statement is a message designed to be inclusive of the expectations of _______ stakeholders for the company's performance over the ______. A. All; long run B. Only key; short run C. All; short run D. Only key; long run Difficulty: Medium Learning Objective: 1 10. (p. 22) Which one of the following is NOT an outcome designed to be accomplished by a company mission? A. To provide a unifying purpose for the organization B. To provide a basis for strategic objective setting C. To provide a basis for decision making D. To reward stockholders Difficulty: Medium Learning Objective: 1 2-3
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Chapter 02 - Company Mission 11. (p. 22) In general terms, the mission statement addresses all of the following questions EXCEPT A. What are our economic goals? B.
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12e_TB_Chap_2 - Chapter 02 - Company Mission Chapter 02...

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