MBA 706 Exam 2 Questions and Answers 100% Verified

MBA 706 Exam 2 Questions and

Answers 100% Verified


Mission - ANSWER-A proclamation of the organization's primary objective

that encapsulates its core values




Influences on an organization's mission - ANSWER-Corporate Governance

Stakeholders

Business Ethics

Cultural Context




broad mission statement - ANSWER-Common and not restraining




Narrow mission statement - ANSWER-Is restraining and focuses too much on

one thing




Characteristics of successful mission statements - ANSWER-Credibility

Uniqueness

, Specific Capabilities

Aspirational




How is Cost Leadership achieved? - ANSWER-Through policies such as

controlling overhead costs and cost minimization




Basic drivers of cost leadership strategy - ANSWER-Economy of scale,

linkages and relationships, infrastructure




Sources of differentiation strategy - ANSWER-Product performance,

perception, and augmentation (adds value)




SMART goals - ANSWER-Specific, Measurable, Attainable, Realistic, Time

scaled




Characteristics of successful objectives - ANSWER-1. Acceptability

2. Flexibility

3. Comprehensibility




hierarchy of objectives - ANSWER-- Corporate