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  • Chapter 2 The Business Vision and Mission: Strategic Management: A Competitive Advantage Approach, 14e (David)

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    Chapter 2 The Business Vision and Mission: Strategic Management: A Competitive Advantage Approach, 14e (David)

    Uploaded by

    Juna Majistad Crismundo

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Strategic Management: A Competitive Diff: 1 Page Ref: 45

    Advantage Approach, 14e (David) Objective: 2.01 Describe the nature and role of
    Chapter 2 The Business Vision and Mission vision and mission statements in strategic
    management.
    1) Vision and mission statements can often be Learning Outcome: Discuss the functions of
    found in the front of annual reports. vision statements, mission statements, and
    Answer: TRUE long-term corporate objectives
    Diff: 2 Page Ref: 45
    Objective: 2.01 Describe the nature and role of 5) When developing a vision statement, input
    vision and mission statements in strategic should be received from as many managers as
    management. possible.
    Learning Outcome: Discuss the functions of Answer: TRUE
    vision statements, mission statements, and Diff: 1 Page Ref: 45
    long-term corporate objectives Objective: 2.01 Describe the nature and role of
    vision and mission statements in strategic
    2) Although it is important for companies to management.
    have a clearly defined mission statement, Learning Outcome: Discuss the functions of
    research has shown that less than 50% of all vision statements, mission statements, and
    companies have used a mission statement in the long-term corporate objectives
    previous five years.
    Answer: FALSE 6) If an organization chooses to have both a
    Diff: 2 Page Ref: 45 mission and a vision, the mission statement
    Objective: 2.01 Describe the nature and role of should be established first.
    vision and mission statements in strategic Answer: FALSE
    management. Diff: 2 Page Ref: 45
    Learning Outcome: Discuss the functions of Objective: 2.01 Describe the nature and role of
    vision statements, mission statements, and vision and mission statements in strategic
    long-term corporate objectives management.
    Learning Outcome: Discuss the functions of
    3) The foundation for development of a vision statements, mission statements, and
    comprehensive mission statement is provided long-term corporate objectives
    by a clear vision.
    Answer: TRUE 7) According to Peter Drucker, asking the
    Diff: 1 Page Ref: 45 question "What is our business?" is
    Objective: 2.01 Describe the nature and role of synonymous with asking the question "What is
    vision and mission statements in strategic our vision?"
    management. Answer: FALSE
    Learning Outcome: Discuss the functions of Diff: 2 Page Ref: 45
    vision statements, mission statements, and Objective: 2.01 Describe the nature and role of
    long-term corporate objectives vision and mission statements in strategic
    management.
    4) The mission statement should be short — Learning Outcome: Discuss the functions of
    preferably one sentence. vision statements, mission statements, and
    Answer: FALSE long-term corporate objectives

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