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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 Difficulty: Hard Learning Objective: 1 3. (p. 21) The mission: Difficulty: Medium Learning Objective: 1 2-1
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Chapter 02 - Company Mission 4. (p. 21) The mission reflects the: 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? Difficulty: Hard Learning Objective: 1 7. (p. 21) The company mission reflects the firm's 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 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? 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. What is our operating philosophy in terms of quality, company image and self-concept?
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