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102. The terms "goal" and "objective" are often used interchangeably; however, in both cases, which of the following statements would be most accurate? A. All lower-level goals must contribute to achieving goals at the next, higher level.B. Goals and objectives are actually the detailed day to day activities necessary to get a job done.C. A company's goals and objectives are often laudable (worthy) in intent, but unrealistic in practice.D. Few companies or firms find it necessary to communicate upper level goals to lower level workers.E. The terms goal and objective are notused interchangeably. Goals are philosophical and objectives are performance based.103. Classic economic theory assumes a firm seeks to maximize its long-run __________, achieving as high a financial return on its investments as possible. 104. A new company projects that its sales will be greater than its expenses within the first year of operation. This is an example of which type of goal? 105. If profits are acceptable, a firm that has set sales as its goal may elect to __________ even though profitability may not be maximized.
Chapter 02 - Developing Successful Marketing and Organizational Strategies106. A small businesswoman was preparing her staff for the upcoming holiday season. "We want to move as much inventory as possible. Not only can we highlight our holiday items, why not mark down some of our other seasonal items while people are in a shopping mood." From this statement, she is most concerned with __________ goals. A. profitB. sales revenueC. market shareD. social responsibilityE. survival107. When sales revenue is chosen as an organizational goal, a firm whose profits are acceptable 108. The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself, is referred to as