UGRD-MGT6370A Strategic Management

Prelim quiz 2

It is designed to help potential shareholders and investors understand the purpose of the
company.
Mission Statement
Answer: 

Question 2
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It seeks to explain the business undertaken by the firm, with respect to the customer needs,
target audience, and alternative technologies.
Business Definition
Answer: 

Question 3
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Organizations need to set adequate and appropriate objective to cover all performance
areas.

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True 
 False

Question 4
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Both an Art and science of formulating, implementing, and evaluating, cross-functional
decisions that facilitate an organization to accomplish its objectives.
Strategic Management
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Question 5
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A statement, that provides a perspective of the means, which will lead the organization,
reach the vision in the long run.
 

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Strategic Intent

Verifiability
Management Intent
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Question 6
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This takes Strategic Intent to an all-together new level by including the employee's
emotions with the organization aspirations.
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Sense of Discovery

Sense of Destiny

Sense of Direction

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Question 7
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It is the dream of the business and an inspiration, base for the planning process.
Vision
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Question 8
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Goals are the end results that the organization attempts to achieve.
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True 

False

Question 9
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The quality of the objectives can be judge on the basis of its ability to give scientific
direction.

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True
 False 

Question 10
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It is time-based measurable actions, which help in the accomplishment of goals.
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Plan

Objectives

Business Model

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