David_TIF_Ch02 - 23 CHAPTER 2 The Business Vision and...

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CHAPTER 2 The Business Vision and Mission True/False Introduction 1. Vision and mission statements can often be found in the front of annual reports. Ans: T Page: 56 2. Although it is important for companies to have a clearly defined mission statement, research has shown that less than 50% of all companies have used a mission statement in the previous five years. Ans: F Page: 56 What Do We Want To Become? 3. The foundation for development of a comprehensive mission statement is provided by a clear vision. Ans: T Page: 56 4. The mission statement should be short—preferably one sentence. Ans: F Page: 56 5. When developing a vision statement, input should be received from as many managers as possible. Ans: T Page: 56 6. If an organization chooses to have both a mission and a vision, the mission statement should be established first. Ans: F Page: 56 What Is Our Business? 7. According to Peter Drucker, asking the question “What is our business?” is synonymous with asking the question “What is our vision?” Ans: F Page: 59 23
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8. A declaration of an organization’s “reason for being” is the mission statement. Ans: T Page: 59 9. A mission statement, sometimes called a creed statement, can be defined as an “enduring statement of purpose that distinguishes one organization from other similar enterprises.” Ans: T Page: 59 10. There is no need for a mission statement in small, nonprofit organizations. Ans: F Page: 59 11. A mission statement is a declaration of an organization’s financial status. Ans: F Page: 59 12. A mission statement can sometimes be called a statement of philosophy. Ans: T Page: 59 13. Carefully prepared statements of vision and mission are widely recognized as the first step in strategic management. Ans: T Page: 59-60 14. An important question a mission statement should answer is, “What do we want to become?” Ans: F Page: 60 15. Whereas the mission statement answers the question “What do we want to become?,” the vision statement answers the question “What is our business?” Ans: F Page: 60 16. In order to motivate a workforce effectively, both profit and vision are needed. Ans: T Page: 60 17. When developing a mission statement, it is usually advisable to involve as few managers as possible. Ans: F Page: 60 24
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18. The first step in the process of developing a mission statement is to ask all participants to prepare what they believe the organization’s mission should be. Ans: F Page: 61 19. According to Campbell and Yeung, the process of developing a mission statement should create an “emotional bond” and “sense of mission” between the organization and its employees. Ans: T Page: 61 20. According to Campbell and Yeung, an organization’s vision is associated with behavior and with the present. Ans: F
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David_TIF_Ch02 - 23 CHAPTER 2 The Business Vision and...

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